Frequently Asked Questions

Questions & Answers

What is Bitmine?
Bitmine is a cryptocurrency cloud mining platform offering hosted cryptocurrency mining services.
What is Cloud Mining?
Cloud mining is a safe way to mine cryptocurrency without having to deal with complex hardware and software setup. All mined cryptocurrency is distributed among all members of Bitmine depending on their active hashing power.
Are you a legit company? Can I trust Bitmine?
Bitmine Platform is a subsidiary of Washington-based Salcido Enterprises, LLC, a company venturing into the world of cryptocurrency mining since early 2013. Salcido Enterprises is one of the heavyweight cryptocurrency mining operators in the world and one of the three biggest high-power cryptocurrency data centers in the US.
Why are you not mining yourself?
We prefer growth over value. The performance of our mining data centers has grown dramatically in the recent years. This is due to the fact that nearly half of our mining hardware was acquired with the borrowed funds.
Where is your mining farm located?
Currently, we have six blockchain data centers and are developing multiple additional ones in Central Washington, and will announce these locations in the coming months.
Which coins can I mine with Bitmine?
Only bitcoin cloud mining is available! As a rational, profit-motivated mining operator, we believe that only Bitcoin has practical use-value for the real world, while altcoins like Ethereum, Ripple, Litecoin, and others have the tendency to fall in price over time relative to Bitcoin.
What are the expected returns?
The results of cryptocurrency mining highly depend on the price and the difficulty of the Bitcoin Network. You can use our Profitability Calculator to estimate the current returns.
Which payment methods are accepted?
We believe that Bitcoin, and only Bitcoin, is the global currency of the future. No other cryptocurrencies are accepted and never will be.
How do I create a new account?
You can create an account very easily. Simply click on 'Get Started' and select 'Create an Account' in the top right drop-down menu when the Platform is loaded, fill out a short registration form, and you’re good to go.
How do I fund my account?
From the top right user menu select 'Add Funds'. Transfer any amount of funds to the wallet address associated with your account. You can either copy the wallet address or use the QR code provided in the middle of the screen.
I received a $100 Welcome Coupon after registration. How do I activate the welcome bonus?
From the top right user menu select 'Add Funds'. Click on the 'Apply Coupon' tab and enter the Coupon Code provided.
How do I purchase hashing power?
In the Dashboad section of your account click on 'Create Mining Contract', choose your desired hashrate and click 'Create Contract'. Alternatively, you can do so at any time in the top right user menu.
How long does the contract last?
Each contract lasts 100 calendar days.
How do I calculate estimated earnings before purchasing a contract?
You can use our Profitability Calculator to estimate current returns for a desired hash rate.
Is there a minimum/maximum hashing power I can purchase?
Currently, the minimum hashing power is 50 THs and the maximum is 5,000 THs.
What influences my income and profit?
The only factor which influences your income is the Bitcoin mining difficulty.
Who pays the maintenance and electricity fees?
You don't have to worry about any fees or commissions - they are already included in the total contract's price.
My contract has expired. How do I renew?
You cannot renew an expired contract, simply create a new one.
I have purchased a mining contract. When will I get my earnings on it?
Mining earnings are credited to your Available Balance daily.
I have some earnings in my account. How can I withdraw them?
In the Dashboard section click on 'Withdraw Funds' under the Available Balance block. Alternatively, you can do so in the top right user menu.
How quick do you process withdrawals?
Withdrawals are instant and processed automatically at the time you request them.
How does the Bitmine Affiliate Program work?
You can find your unique affiliate link in your account, which you can share to invite new clients to Bitmine. Any client who creates an account using your affiliate link becomes your lifetime referral.
What are the affiliate commissions?
We pay 10% on each hash power purchase of your referral. For example, if any of your affiliates purchases a $1,000 contract, you'll receive $100.
Why do some of my affiliate earnings not appear in my account?
Affiliate commissions are credited to your account after 3 confirmations on the Bitcoin network. This may happen due to the low network fee paid by one of your referrals, and can take up to 2-3 days. A sufficient network fee is required to broadcast your transaction to the network in a timely manner.