Mar 19 2016 0

Mining Sweden

Mid February I have signed up for Mining Sweden and invested in some shares. Each share will be active for 12 months.

Product Price
Mining Sweden S7 VIP Shares (MSVS7) 2 $15.60
Mining Shares 20 GH - S7 Antminers 2 $20.52

The total investment for these shares was roughly $36, so hopefully these shares will generate at least 0.08569 to break-even (based on the Bitcoin rate at the time of purchase).

Mining Sweden

It however took a scary long time (2 hours) to have the order going from Processing’ to Completed’. Processing of orders and withdrawals seem to be processed manually, so that is the reason for the delays.

After one day of having an active contract the balance was 0.00032208. At the current difficulty that would take approximately 165 days to break-even on the investment.

As of yesterday I have made 0.00934703 in withdrawals and there is 0.0055 still in my balance at Mining Sweden.

So this makes 0.01474703 (minus the 0.0001 withdrawal fee) so far, which makes 17.2 % ROI. Since there is a withdrawal fee it makes senses to make your withdrawals larger.

Now only hope that the service will run at least this long without any nasty surprises that seem to be common-ground in the world of Bitcoin… According Badbitcoin.org this is a service that can be trusted since they have listed Mining Sweden together with Genesis-Mining as trustworthy hosted mining services.

Mining Sweden had a big outage of their website from March 14 through March 15 and again on March 17th. Throughout the initial outage occasional emails and some tweets.

No updates have been posted on their Facebook page have been sent out providing informing about the current status and next steps.

After the outage on March 17th an email was received that they would me moving to a new server

Mining Sweden New Server

So hopefully in a while Mining Sweden will again be running smoothly.

Mining Sweden Back Soon

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