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ScryptCube: They are Back! Review and Detailed Mining Plans Analysis (November 2021)

Yesterday we witnessed a wonderful event - the Return of the Scryptcube. Without any warnings or announcements until yesterday, they have resumed selling their mining plans for BTC and Ethereum on their website.

I jumped up in my chair when I saw the cherished words "Scryptcube resumes work"

Let me first explain what a ScryptCube is.


Scryptcube is a European cloud mining service that is officially registered and even has the ability to pay the price of contracts with Credit Cards.


I started working with Scryptcube in January 2021 and worked until March, when a fire broke out at their substation, and sales were stopped.

At the same time, the company did not run away with the users' money, but reimbursed all payments and purchases - it returned the money to Credit Cards, transferred back payments to Payeer, BTC and other cryptocurrencies. All this took only a week after the service was stopped.

That is why I trust these guys - they have already faced problems and left honestly, without letting their customers down. Therefore, you don't have to worry about your investment in ScryptCube.


If you want to know more about ScryptCube, read the following articles, which were written before Stopping the service:

ScryptCube: my opinion about their Contract Prices and why I bought 14 TH/s more (2021, Feb 24th)

ScryptCube Review: "Scam or Legit". Great Investigation and Proof of Mining! (2021, Feb 22th)


Today we will update the Scryptcube analysis and also answer the question "Is it more profitable to buy bitcoin on the exchange at the current rate or buy contracts for cloud mining?"


My Account

The accounts were not deleted, old users were able to log into their accounts as before. I found my small balance of 78,000 satoshi, and bought 0.1 TH/s for 1 year to look at the daily charges.

scryptcube contract
My Scryptcube

Also, in the account data, there were traces of the return of funds, at the time of the fire and the stop of the service:

Mining plans refunded
Mining plans refunded

In general, I had a maximum hashpower of 22.3 TH/s on my account, and here is the date of the last charge before the fire.

Scryptcube accruals
Scryptcube March 2021 Accruals

Scryptcube cloud mining contracts

Today, November 17, at a bitcoin price of 59,500, we have the following metrics for the 1-year BTC plan:

ScryptCube 1-year contract
Scryptcube 1 year contract

I still don’t know why the price was so high that it was simply unprofitable for users to buy contracts. Even in unrealistically favorable conditions (Very Very Optimistic scenario) of the growth of the Network Difficulty, they will lose 36% of their investment. In the Realistic Scenario - 49%, and in the Pessimistic - 58%.

This is not what we expect from mining, right?

Scryptcube advantages over competitors

Over the past months, Bitdeer and Bitfufu, two Chinese mines, have become familiar to me.

ScryptCube has advantages over them:

  • They do not deduct 4% of the mining pool fees from income.

  • They have the option of paying by credit card

  • They have no electricity or maintenance fees.

Conclusion

I think current prices are a bit of a joke or a mistake. It seems to me that soon the prices will return to the level when mining will be profitable for the clients of the service.

I like ScryptCube - it is a great and reliable service, as I found confirmation of real mining in the f2pool of their mining devices.

But all the same, everything depends on the price. There is no reason to buy contracts at such prices.

I will be glad if you register for ScryptCube using my link and wait for news about price changes in my Telegram group dedicated to the analysis of ScryptCube contracts (you can see the yields for January-February 2021, all records are saved in the feed)


Thanks for attention! I would be glad if this analysis helped you! I wish you a profitable investment and the right decisions!

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