I'm currently looking at options to provide a profitable cloud mining service. I have already contacted collocation services in Quebec, and have met a developer in person earlier this week. I can expect completion of a fully-functional website with a user interface, stats, payout system, and account registration in around a month. This will allow investors to purchase cloud mining shares, monitor statistics, and enable auto payments from mining rewards. There will also be a built-in exchange later.

The biggest thing with the mining industry is that it is relatively un-ROIable in many cases. The timeframe to achieve a full return on investment on many new Bitcoin ASIC hardware is over a year when factoring in electricity costs. Then, you also have to consider difficulty increases, and the devaluation of ASIC hardware. That makes it next to impossible to make back your initial investment.

Currently, there are no cloud mining services that can offer a reasonable ROI on their issued shares. These shares are often ridiculously priced, and maintenance fees eat into the revenue. I have made that analysis by looking at the biggest cloud mining services:  Hashnest, Genesis Mining, and Hashflare.

What I plan to offer is a cloud mining service that is ROIable- a first in this type of industry. I have done my due diligence in finding affordable hosting, and I currently am looking for cheaper suppliers. In addition, I plan to be the first cloud mining service that will offer hashrate redemption- once mining becomes unprofitable, hardware will be sold and the money be distributed with hashrate owners. This will ensure that the underlying value of the hashrate share will be at least a reasonable portion of the sale price. As the mining hardware will only be GPUs and computer components, the hardware will not devalue significantly. There always is a big market for used computer components, as they hold a multitude of use cases. With this in mind, the investor will earn money from cloud mining, as well as the conversion of hashrate to BTC if mining no longer becomes profitable.

There will be a limited supply of MH (Ethereum mining hashrate) in the early months of this operation, as most of the rig deployment work will be done by a very small team. Rigs will be constructed in Toronto, then driven to Quebec (over 5 hours, once every 2-3 weeks). I currently am looking for early backers, if you are interested, please send me a PM (there will be a pricing discount).

As always transparency will be key. Various pictures will be provided of the hardware, both in construction and running in the collocation center. There will also be a pool address from where everyone can monitor the entire farm's hashrate. The MH we sell will never exceed the hashrate we own.