Bitdeer: Review and Detailed Mining Plans Analysis (October 2021)
Updated: Oct 16
Today we will take a look at the new contracts of the cloud mining service BitDeer, which has a close relationship with BitMain, mining pools and cooperates with major hashrate providers around the world.
I've written about this service before. If you need an analysis of the legality of a company - read about it here.
New contracts appeared earlier than those of BitDeer's main competitor - BitFuFu.
We are offered plans for mining for 200 and 360 days. The minimum cost for which you can buy a mining contract is $ 2156.
You need to understand that investing small amounts will be of no use. If you invest in Bitcoin and Cloud Mining, then this process should not be approached with $ 100 in your pocket.
Accelerator Mode: 360 Days
Classic Mode: 200 Days
To understand the difference between the Classic and Accelerator Bitdeer mods - read my review on these types of contracts. (will be published soon)
Analysis of BitDeer Cloud Mining Plans
Of course, I will take into account the "cheapest" BitDeer contracts, because we do not benefit from an increase in purchase volume. All calculations are standardized to minimum TH/s of hashpower you can buy for duration of contract. All days of electricity fees are included into calculation price. Electricity fees: why I prepay them when buying contracts? On the BitDeer cloud mining service, you can pay for up to 180 days of electricity when purchasing contracts. I try to pay for all the electricity when buying, so as not to worry about the availability of money to write off or about the Bitcoin rate, which can also make a correction to profitability.
The fact is that by paying for electricity immediately you know at what rate it was done. And nobody knows what will happen in a month. If the price of BTC rises, then you will spend less, but if it falls, then more. This is an additional variable in the calculations, and I try to make predictions accurate.
360-days BitDeer Acceleration Mode
With the changing network difficulty, these contracts are profitable to buy.
We will make a profit even if, within 360 days of the contract period, the Bitcoin Network Difficulty changes in the pessimistic scenario by +4% each period, reducing our income. In principle, such a scenario is likely, but a short contact period of 12 months helps to avoid mistakes when buying.
200-days BitDeer Classic Mode
In comparison with the contact Accelerator for 360 days, I like this contract less.
Bitdeer is a reliable company that has a close history with the giant Bitmain. Investing in this cloud mining service is legitimate in every sense.
Personally, I have been using Bitdeer to grow my BTC volume since February 2021 and constantly monitor the profitability of contracts.
My goal is to buy contracts for BTC and get even more BTC at the exit. Or, when there is free fiat, do not buy on the exchange, for example, 0.1 BTC, but buy a contract on Bitdeer and, over time, receive, for example, 0.11 BTC, thereby saving money and increasing the BTC.
I analyze the contracts several times a week and post the yield in the Bitdeer Daily Efficiency section of the website. In addition, it is convenient to follow the publications in the telegram channel "BitDeer Daily Analysis and Buy Signals".
And if you want to know more about the service, do not forget to read the great article about Bitdeer - "Bitdeer Review: Legit and Reliable mining for Everyone"
360-day Accelerator Mode Contracts should be considered for purchase at the moment, as they will bring you income. Whether to buy Classic contracts for 200 days is up to you.
I wish you a profitable investment and the right decisions!