Should You Invest In Poloniex’s Mining Contract?

Poloniex, the extremely popular altcoin exchange, has begun selling shares of a 10THs Bitcoin mining contract. They have opened up the opportunity to purchase shares of this contract, but would it be a good idea? 

At this point in time, it’s hard to know for sure. 1GH/s shares are being sold at the cost of 0.0185 BTC, or around $8. Plugging that into a calculator, we will find out with today’s rates that it will take just over a year to earn back your initial investment.

However, this assumes that all factors stay the same the entire time, and this is simply not the case. Difficulty for Bitcoin mining is going to inevitably rise, and this will be the case for as long as it’s profitable. This means that it will take even longer to earn back your initial Bitcoin investment. While Poloniex claims that they will continue mining until it is no longer profitable, we can’t be sure how long that will be. For all we know, the mining contract could be over before you even get all of your Bitcoin back.

Even if that were to be the case, if you purchased Bitcoin now and put it in the mining contract today, you could still make a profit. However, you’d have to rely on Bitcoin rising in price, and really it’d be much safer just to buy Bitcoin and hold onto it.

For now, we recommend not purchasing a mining contract with Poloniex simply because the price they’re charging is too expensive. However, we do recommend (and have done so ourselves) purchasing a mining contract with, as the prices are determined by the market, meaning they are significantly cheaper.

Click here to visit’s website. 

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