PBMining Review - Week 15
Cloud Mining Service – PB Mining
Number of Days Since Initial Purchase – 15 weeks
Currency Mined – Bitcoin
Contract Hash Rate – 100 GH/s
Contract Length – 5 Years
Payout Frequency – Weekly (every Sunday 24:00 GMT -6)
Amount Purchased – approx. 0.5 BTC (payment made in BTC)
Time Purchased – May, 2014
ROI (BTC) at the end of Week 10 – 75%
PBMining Review – PB Mining has been working without any issues since our last reporting, at which point, our ROI was at 58%. Now, it is at 75%, and we only have 25% more to go!
However, with bitcoin difficulty rising once again (it was in the single digits for 3 weeks in August but now back to double digits), we are not yet confident whether we will achieve 100% ROI, though we believe there is a good chance of doing so (unlike the 2 Mh/s plan we purchased from Genesis-Mining at 360USD (for a 1-year contract)).
Although we have recouped 75% of the bitcoins invested, it won't be quick from here. The last mile is the longest!
Even if we were to receive the same payouts as our last payout from here onwards, it would still take 9 weeks to reach 100%. In reality, since difficulty will continue to rise, it should take take much longer than 9 weeks to reach 100% ROI, if we get there at all.
Other than that, no new updates for PBMining - price is still at 0.0029 BTC/GHs, which is among the lowest price per GHs in the cloud-mining industry.
However, the level of anonymity surrounding PBMining is high, and we don't know have much details on the mining operation, which is still a risk factor to keep in mind.