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About our Mining Center
RedBag Cloud Mining owns an area Mining Data Center that provides optimal miners and rigs, optimal in terms of operation, optimal in terms of security, and optimal in terms of protection.
WHY REDBAG CLOUD MINING?
Low cost electricity
Frequently Asked Questions
What is RedBag Cloud Mining?
RedBag Cloud Mining is our cloud mining service that offers an easy way to purchase hash power without having to deal with all the things that comes with a miner.
How does BitCoin mining with RedBag works?
It’s easy! As soon as we receive your payment, your contract will be added to your profile, and our miners will do the work for you. You can request your first mining output after a threshold, depending in which coin you selected.
What is mining performance? Why are you not mining yourself?
Besides the fact that we do mine with the very same hardware that we offer to our clients, our capital is limited. We believe in BitCoin and AltCoin mining are one of the best ways to get Cryptocurrencies.
Where is your mining farm located?
For security reasons we don’t provide the exact location of our mining farms. As of February 2019, we are operating our mining farm that is located in Europe.
Isn't buying the hardware cheaper?
At first look, one might think that buying a miner is cheaper than hosted mining.
However, there are hidden costs related to purchasing a miner, and maintaining it, that change the economics significantly.
- Customs dues / VAT: If it is an international delivery you will likely have to pay customs dues and VAT.
- Shipping costs: few merchant will cover this. WE will cover this, at RedBag , but in other cases they will charge you extra.
- Delivery time: when you pay for your device you have to wait until the miner is packaged and shipped; if it is held up in the customs this can take weeks.
- Costs for additional equipment: Things like an extra PSU that matches the electricy specs of your country, control units and specific shelves can rump up the prices. We usually include PSU in our Miner Website RedBag.
- Setting the system up: Begginers often underestimate the amount of work and technical knowledge that is needed to bring the device up and optimize it’s settings.
- Maintenance: Hardware failures, outages and crashes could lead to downtimes between seconds and weeks. If your miner breaks you have to start from scratch.
- Electricity: Having the machines at home brings heat and noise, but furthermore an increase of your electricity bill: We take care of that.
Do not get us wrong: We do not discourage anyone from mining at home. We are often asked about the prices. We just want to provide you the option to focus on mining your favorite coins while we take care of the rest. If you still want to buy a miner, we recommend you to check us at RedBag – ASIC Mining Worldwide Shop.
What are the expected returns?
Bitcoin and Altcoin mining depends highly on the prices and network difficulties of the Cryptocurrencies that your are mining, which cannot be predicted. We recommend our clients to do their own research and do their own performance calculation.
What is the maintenance fee?
Our products don’t have a maintenance fee attached.
The moment you pay, we take care of the maintenance: We don’t use a part of your daily rewards to pay for the electricty cost of the power you chose.
How frequently will I receive my mining outputs?
After a threshold, you can choose the amount of coin you want to retire and send us a request.
How can I reach if I have further questions?
Please, refer to our Contact.
How can I mine different coins at the same time?
RedBag Cloud Mining allows you to have multiple plans at the same time, you just have to decide which coins you prefer.
Which pools are you using for mining?
We do not publish the list of pools we’re using.
We atleast use two different pools, in some cases we use up to three, for each coins. If we become aware that a pool is getting close to 50% share, we will switch away from it to a backup instead.
Ok. How can I pay?
You can pay us via Stripe or bank transfer. If you want to pay us by different methods, you can contact us for that.