ViaBTC increased cloud mining commission

The main reason for raising the commission is the lack of resources
16 January 2018   576

The Chinese Mining Pool ViaBTC announced its intention to increase the commission charged under the contracts for cloud mining, citing increased pressure from regulators.

ViaBTC reports that it will temporarily raise the commission for servicing the AntMiner S9 miners, which are provided to customers through cloud mining contracts, from 6% to 50%. At the time of publication, ViaBTC accounts for 14.1% of the hash-capacity of the bitcoin network.

As a reason for such a decision, ViaBTC noted the deficit of the mining resources in China, caused by the latest actions of local regulators.

Recently, due to policy changes, some of our long-term hosting partners are facing a crisis of farm closure as mining resources in Mainland China become more scarce, leading to rocketing costs of our cloud mining operation. To guarantee the long run of cloud mining, ViaBTC has no choice but have to readjust our maintenance fees. 

ViaBTC Team

Although ViaBTC reports that these measures are temporary, the specific time frame isn't specified. At the same time, users who are owners of mining contracts for AntMiner S9 have the right to cancel them before January 18.

Nvidia to Unveil Mining GPUs Sales Profit

In the first quarter of the fiscal year 2019, miners brought to the giant $ 289 million in profit
11 May 2018   194

Nvidia Corporation published data on revenues from the sales of video cards for the production of crypto-currencies for the first time. So, in the first quarter of the fiscal year 2019, miners brought to the giant $ 289 million in profit. At the same time, the company expects that this figure will become much smaller in the second quarter, Bloomberg reports.

For example, during a group call on revenue, Nvidia CEO Huang Jenxun noted that the demand for video cards for mining was higher than expected, but the company believes that in future the number of GPUs bought by miners will decrease by about two-thirds.

Crypto miners bought a lot of our GPUs in the quarter and it drove prices up. I think that a lot of gamers weren’t able to buy into the new GeForce as a result.

Jensen Huang

Chief Executive Officer, Nvidia

The mining GPUs sales profit of Nvidia, was higher than that predicted by analysts. For example, Christopher Rolland of Susquehanna predicted that the corporation will earn about $ 200 million on video cards for the production of cryptocurrency.

Earlier, the head of Nvidia, Huang Jensen, said that, despite the pressure from regulators, cryptocurrencies will be popular for many more years. At the same time, according to a study by analyst firm Jon Peddie Research, the cryptocurrency alaquotes helped AMD reduce the market gap from Nvidia and secured 10% of the company's profit in the first quarter of 2018.