Bitmine Review: Scam project
Updated: Oct 12
In this article, I will give you a couple of reasons that will be enough for you to never contact this website that offers cloud mining services.
At the moment, there are ALREADY many reviews that the Bitmine does not withdraw money from the account, and there are even such that they ask for additional money in order to "unblock" the transfer.
Trustpilot does not always give an adequate assessment of the service, because reviews can always be cheated, as they did in Shamining (scam project, review here). But when there are ALREADY such reviews, you need to run from such a service as quickly as possible.
Fixed profitability of mining
As my readers already know, the profitability of mining capacities is not constant and depends on the difficulty of the bitcoin network, and even within such intervals it can vary.
And we are offered equipment with a fixed rate of return. Moreover, this value is constant and has not changed during the last rise in the difficulty of the network.
60 TH / s Antminer S9K costs 0.005 BTC for 1 month and will mine 0.00020833 daily.
This means that you receive 0.00624990 BTC monthly.
That's 24.998% monthly return.
Is the yield too accurate? In the world of true cloud mining, this value changes daily.
Their name is too similar to the giant BitMAIN. But BitMAIN is not Bitmine. Although, this does not stop them from posting videos from BitMAIN farms on the home page. Notice what is written on the hangar.
Bitmine "explore" page.
On the website you can find a link to an alleged list of transactions - who bought how much and who paid how much.
There are currently three address formats in use in Bitcoin mainnet:
P2PKH (Pay 2 Public Key Hash) which begin with the number 1
P2SH (Pay 2 Script Hash) type starting with the number 3.
Bech32 type starting with bc1.
There are no addresses on the bitcoin network that start with "9" or "A".
And when I want to buy something on this site, I am asked to transfer bitcoins to a "normal" wallet.
Never buy anything on this site, share this article to keep people from losing money.
This service is a totally scam.
I hope you are reading this review before investing in a project like this. Please consider investing in legal, stable and world-famous projects like cloud mining service Bitdeer, which has a close relationship with BitMain, mining pools and cooperates with major hashrate providers around the world.
Exclusive Cloud Mining plan for 30days of 50 TH/s cloud mining
a 50% discount coupon for further purchases
The ability to monitor the operation of cloud mining on the 3d-party mining pool website of your choice (ViaBTC, BTC.com, f2pool)
Feeling the security of your investment, since Bitdeer is a highly trusted sharing service platform of digital asset mining machines, news publications about which can be found on such websites as: Bloomberg, Yahoo, Cointelegraph, Forbes, Nasdaq, CNN and even Bitcoin.com
Stay away from scam projects, I wish you a profitable investment and the right decisions!