Mining2 November 2026

Cloud mining or rent hashrate: 24 hours or a year?

Power Mining rents out bitcoin hashrate for 24 hours or a year. What you pay per TH/s, your odds of a block and how to spot cloud mining fraud.

On 2 November 2026, a renter at Power Mining found a bitcoin cash block with a €30 rental for 24 hours. The block sent 3.079 BCH straight to the renter’s address. Power Mining, from Latvia, rents out bitcoin hashrate in two ways: 24 hours for a budget of €10.94 to €2,500, or a virtual miner of 0.777 to 37.5 TH/s for a year. That is something different from much of what you find under ‘cloud mining’: in January 2026 the Italian regulator CONSOB suspended the offer of ‘mining contracts’ from two providers, and Austria’s FMA classes cloud mining packages as investment funds.

Cloud mining and renting hashrate in short

A chance, not an income: Power Mining promises no return. According to its own terms, by far the most likely outcome of a rental is ‘no reward at all’.
24 hours is the cheapest per TH/s: €0.060 to €0.109 per TH/s per day, against €0.121 to €0.155 for a virtual miner you pay for a year up front.
The year locks in the price: if the bitcoin price rises, a new 24-hour rental costs more per TH/s. A virtual miner keeps the price of the day you order.
Bitcoin is a lottery, bitcoin cash a little less so: €35 for 24 hours gives a 1 in 17,603 chance of a bitcoin block worth about €219,000, and 1 in 64 of a bitcoin cash block worth about €760.
On average you get back less than you put in: converted to euros, that €35 chance is worth €12.44 on average. Except you don’t get it on average: you get it all at once, or not at all.
Regulators are taking action: in January 2026 CONSOB suspended the mining contracts of two providers, the FMA treats cloud mining packages as investment funds, and since June 2025 the CNMV has put five parties with ‘miner’ or ‘mining’ in their name on its list.
The code CRYPTOCODES only works for the year: 10% off a virtual miner in the first year; on the 24-hour rental the code gives no discount.

What is the difference between cloud mining and renting hashrate?

‘Cloud mining’ is a catch-all term. It covers genuine services, but also offers that promise a fixed daily or monthly return on a dashboard of their own, without you being able to see anywhere whether any mining is really happening. What European regulators say and do about this:

The AMF (France) calls a guaranteed return an easily recognised red flag with crypto: ‘des rendements élevés garantis (au-delà de 2 à 3%), ça n’existe pas’ (high guaranteed returns, above 2 to 3%, do not exist). It also describes the pattern: a small withdrawal works at first, then larger amounts never come back.
CONSOB (Italy) suspended the public offering of ‘piani contrattuali di mining o di investimento’ from two providers for 90 days on 21 January 2026 and had their sites blocked in Italy. Since July 2019, CONSOB has had 1,537 sites blocked.
The FMA (Austria) warned on 5 December 2025 against a provider of cloud mining packages, which according to the FMA count in Austria as an ‘alternative investment fund (AIF)’. Anyone selling them needs a licence to do so.
The CNMV (Spain) put five parties with ‘miner’ or ‘mining’ in their name on its list of unauthorised entities between June 2025 and February 2026.
EBA, EIOPA and ESMA jointly warned on 6 October 2025 that your protection with crypto may be limited, partly because of ‘aggressive promotion on social media by finfluencers’.

Genuine hashrate rental is something you can check for yourself. At Power Mining you only give a receiving address, no keys or recovery phrase. The pool puts that address in the first transaction of the block, so the reward does not pass through Power Mining; only if you start without a wallet of your own does it first go to a Power Mining address. In block 975,601 of 2 November, 3.07894176 BCH went to the renter this way and 0.04688743 BCH to SoloBCH: the 1.5% from the terms.

24 hours or a year: what does it cost?

With the 24-hour rental you pick a budget; Power Mining uses it to buy as much hashrate as it is worth that day. The table shows the position at the time of writing, including 21% VAT; we calculated the price per TH/s ourselves.

Budget for 24 hours	Hashrate	Per TH/s per day	Chance of a bitcoin block
€15	154 TH/s	€0.097	1 in 47,892
€35	419 TH/s	€0.084	1 in 17,603
€80	1,191 TH/s	€0.067	1 in 6,193
€500	7,563 TH/s	€0.066	1 in 976
€2,500	41,335 TH/s	€0.060	1 in 179

With ‘Repeat weekly’ you book the same budget again every week, with 7.5% more hashrate from week two. You can cancel at any time.

A virtual miner is the longer product: a fixed hashrate that mines to your address every day for a year. You pay a start fee and then a running fee every three months, or the whole year up front for about 5% less. With the code CRYPTOCODES, 10% comes off the start fee and off every running fee in the first year; for the Virtual NerdOctaxe, Power Mining then showed €402.99 for the year up front.

Virtual miner	Hashrate	Year up front	Per TH/s per day	Chance of a block in a year
Virtual Bitcube	0.777 TH/s	€43.99	€0.155	1 in 26,006
Virtual Bitaxe Gamma	1.2 TH/s	€64.99	€0.148	1 in 16,839
Virtual NerdQaxe	4.8 TH/s	€236.99	€0.135	1 in 4,210
Virtual NerdOctaxe	9.6 TH/s	€446.99	€0.128	1 in 2,105
Virtual Avalon Mini 3	37.5 TH/s	€1,659.99	€0.121	1 in 539

Price per TH/s per day at Power Mining: 24 hours from €0.060 to €0.097, a year up front from €0.121 to €0.155

The sums with the same amount

Power Mining itself puts the two side by side with €446.99. In a single 24-hour rental, the chance of a bitcoin block is then 1 in 1,093. A Virtual NerdOctaxe for the same amount gives 1 in 2,105 over a whole year. Convert that with a block worth €219,000 and the 24-hour rental is worth €200.37 on average, the year €104.04. That annual figure assumes the difficulty stays the same; it rose by 5.54% as recently as 29 October. If the difficulty rises further, your chance over the year falls.

For comparison: on the bitcoin network, 1 PH/s earns about €30 a day on average (3.143 BTC per block, 144 blocks a day, 1,046.7 EH/s, €69,537 per bitcoin). Power Mining charges €60 to €109 per PH/s per day, including VAT: the price of a chance at the whole block.

Work out your own odds

Pick an example or enter your own hashrate. The calculator uses the network and the price as they stand right now.

Examples at Power Mining

Hashrate in TH/s

Term

Coin

Chance of at least one block: 0.0058%; about 1 in 17,000
Value of one block: €226,525; 3.125 BTC, excluding transaction fees
Average value of that chance: €13.21; Solo, you never get that average: you find a whole block or nothing.

Network 1,035 EH/s, price €72,488, as of 16 October 2026. The TH/s in the 24-hour examples reflect Power Mining's prices on 2 November 2026; they change every day.

What happens when the price rises or falls

An order you have paid for does not change; the difference lies in the next order. Power Mining works it out using 2024: from mid-September to mid-December, bitcoin rose 81% and the price of hashrate 58%, so that €35 bought only about 260 TH/s instead of 419. In the first half of 2022, the hashrate price fell 65% and €35 bought about 1,200 TH/s. A rising market rewards the year’s fixed price, a falling market renting by the day.

How do you check a provider?

Is your address in the block? With genuine solo rental, the reward goes to your address in the first transaction of the block. You can see this yourself on mempool.space (bitcoin) or a bitcoin cash explorer.
Can you see your hashrate in a public pool? At Power Mining you paste your bitcoin address on pool.powermining.io and compare the hashrate you see with your order.
Does the company exist in a register? SIA ‘Power Mining’ is listed in the Latvian business register (Uzņēmumu reģistrs) under number 40203109378, registered on 1 December 2017, with annual reports for 2018 to 2025 and no insolvency or liquidation proceedings. The address is in Garkalne, just outside Riga.

What does this mean for you as a European investor?

VAT. Power Mining charges the VAT of the country you live in. The amounts above include 21% Dutch VAT.

Withdrawal. For a service bought at a distance, you have 14 days in the EU to withdraw from the contract (Directive 2011/83/EU, Article 9). That right lapses once the service has been fully performed, if you expressly agreed to the start beforehand and acknowledged that you would then lose the right (Article 16(a)). Power Mining asks you at checkout to request an immediate start and refunds the unused part if you withdraw. A 24-hour rental has been fully performed after a day; with a one-year contract, you still get most of it back within the 14 days.

Supervision. MiCA does not regulate mining itself. A crypto-asset that is ‘automatically created as a reward for the maintenance of the distributed ledger’ falls outside the rules for an offer to the public (Article 4(3)(b)), and renting out hashrate does not appear in the list of crypto-asset services in Article 3. A MiCA licence therefore says nothing about a mining provider; a cloud mining contract can, however, fall under investment rules, as in Austria and Italy.

Tax. A block you find is taxable in most countries, but how differs from country to country. See crypto tax in Europe.

Warnings by country. If you have doubts about a provider, check with your own regulator: the AFM in the Netherlands, the FSMA in Belgium, BaFin in Germany, the AMF in France, the CNMV in Spain, the CMVM in Portugal, CONSOB in Italy and the KNF in Poland. If a name is not on the list, that still means little: the lists lag behind.

If you want to look at the product yourself: on our page on renting hashrate, CRYPTOCODES is already filled in at Power Mining. If you rent through our link, we receive a commission; you pay nothing extra. If you would rather buy a device of your own, you will find the sums in Rent hashrate or buy a Bitaxe? The sums for 2026. Those prices date from 16 October; the annual prices have fallen since.

What is not certain yet

Tomorrow’s price. The amounts for 24 hours follow the bitcoin price and the difficulty; at the time of writing, mempool.space estimated the next adjustment at −1.77%.
The company details in the terms. Power Mining writes that the sections on company details, liability and governing law are still ‘being finalised’.
The terms and the 24-hour rental. The terms of 8 October 2026 speak of a ‘Virtual Miner rental’; they do not literally say that the 24-hour rental falls under this.

This article is not investment advice. Crypto can fall sharply in value and you can lose your entire stake.

Frequently asked questions

Is cloud mining trustworthy?

That depends on what you buy. If a provider promises a fixed daily or monthly return, be careful: according to France’s AMF, high guaranteed returns do not exist. CONSOB in Italy and the FMA in Austria took action against mining contracts offered without authorisation. With genuine hashrate rental, you can see your hashrate in a public pool and a block you find goes straight to your own address.

Do you get your money back if you don’t find a block?

No. The amount pays for the computing time, even if no block comes. Power Mining itself compares a rental to a lottery ticket.

Is mining bitcoin cash better than bitcoin?

The chance is much greater (1 in 64 against 1 in 17,603 for €35), but a bitcoin cash block is worth about €760, against about €219,000 for a bitcoin block. Converted, the expected value is about the same. For bitcoin cash you need your own address in CashAddr format.

Sources

Read on 2 November 2026.

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