Mining

More About Mining

Below are pics of our mining facility in Rekjavik, Iceland.

The founder of BitClub Network, Russ, is 3rd from the left.

An amazing person and an absolute fundi in crypto-currencies with huge plans for this business.

Bitcoin Iceland Team
Bitcoin Iceland Team Bitcoin Russia TeamBitcoin Iceland Team 2

Our three Bitcoin Mining Pools

Pool 1

Each share (costing US$500) is used to purchase new bitcoin mining servers. All bitcoin earned is split among the members of this pool and paid out daily.

Each share earns 50% profit with the other 50% being used to fund the mining operation and to purchase additional mining shares.

Pool 2

Each share (costing US$1 000) is used to purchase new bitcoin mining servers. All bitcoin earned is split among the members of this pool and paid out daily.

Each share earns 60% profit with the other 40% used to fund the mining operation and to purchase additional mining shares.

Pool 3

Each share (costing US$2 000) isused to purchase new bitcoin mining servers. All bitcoin earned is split among the members of this pool and paid out daily.

Each share earns 70% profit with the other 30% used to fund the mining operation and to purchase additional mining shares.

So, using Pool 1 as an example: if the total bitcoin mined for the day equalled 1 BTC and there are 100 shares in the pool, each share would earn .01 BTC. From this, 50% would be paid directly to the member as profit (.005 BTC) whilst the other 50% (.005 BTC) would be used to fund the mining operation costs and purchase additional shares.

Assuming that the price of one bitcoin was $500 (it’s of course way higher than this, but bear with us), and you have 1 share, you’d earn $5 (.01 BTC) of which $2.50 is paid to you and $2.50 is used to purchase an additional share on your behalf.

In this case, you would purchase an additional .005 shares with your $2.50 and would have a total of 1.005 shares going into the next day that you’d be earning on.

Our two GPU Mining Pools

In addition to our three bitcoin mining pools, we also have two GPU pools, costing US$1 000 and US$5 000 respectively.The US$1 000 GPU pool allows you to mine one of four leading crypto-currencies, other than bitcoin.

These are: Ethereum, Ethereum Classic, Monero and Zcash. You can choose to mine one of them, and at the click of a button, switch to mine another.

The US$5 000 GPU pool (the 5 Share Founder Pack) gives you 5 GPU shares that can be managed individually and allow you to mine all the aforementioned crypto-currencies.

Purchasing 5 x $1 000 GPU pools over a period will qualify you as a Founder.

Regardless of which GPU mining share you purchase, the contract period is 2 000 days. (As opposed to bitcoin mining pools which have a contract period of 1 000 days).
After 2 000 days, your share will expire and you will no longer receive any benefit from this mining pool.