What to expect when mining with Cloud Rush
What to expect when mining with Cloud Rush, Part 1
Mining for Filecoin with Cloud Rush is easy, and the profit potential is excellent. Let’s talk about some of the steps you will go through when you decide to join the Cloud Rush family.
It is estimated that people create around 1.145 trillion MBs (megabytes) of data PER DAY. 51% of the world’s data storage is held on Amazon and Microsoft servers. Having so much data on centralized servers will result in more and more server outages and data hacks that are already common today.
Filecoin’s peer-to-peer network is much more efficient and secure than centralized servers. Filecoin’s network also achieves staggering economies of scale by allowing anyone to participate as a storage provider and compete for cloud storage business.
When you join the CR family, you join our Singapore mining pool. Cloud Rush has been mining for Filecoin in Singapore for over a year and our mining pool has moved to a ranking in the low 600’s of the 3,300+ Filecoin mining platforms around the world. You are in good company when you join the Cloud Rush family.
Cloud Rush currently offers eight mining plans, each with a very low entry price. Each plan is based on the amount of digital storage you want to create on the Filecoin network. Plans range from 16 terabytes to 1 petabyte. (Custom plans are also available.)
The effective storage created in each plan is approximately two-thirds of the plan’s full power; the remaining third is used for the mining operating system. For example, a 16T plan will create 10.72T of effective network storage capacity; a 288T plan will create 192.96T of effective network storage capacity.
The Cloud Rush contract term is five years. At the end of the term, you can keep your storage drives if you wish. If you’re mining on the 512T and 1P plans, you can also keep the mining equipment if you would like.
Cloud Rush mines for Filecoin because we believe that their business model which creates an actual product, digital storage, will help make a difference in today’s world. The new data storage created by Cloud Rush miners makes data storage safer, data easier to retrieve, and the decentralized network harder to censor.
Ready to join the digital currency industry?
Mining new Filecoin is usually much less expensive than purchasing it at the market price.
A 96T (terabyte) machine plan from Cloud Rush has an initial out-of-pocket cost1 of only $16,889. (A token pledge [priced at 5.1FIL/T as of 10/28/21] is also required at the commencement of mining; please contact Cloud Rush for details.) The estimated mining cost-per-token is $19.50 or less. On October 28, 2021, Filecoin tokens were priced at $58.00. This sounds like a pretty good deal.
Disclaimer: This blog is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.