Below we try to answer the frequently asked questions that our company receives about our Mining Farm.
WE ARE NOT THE BIGGEST, BUT WE ARE THE MOST RELIABLE AND SMART…. Are you like us?
Who is Baltic Miners UAB?
BALTIC MINERS UAB is a European company based in Vilnius (Lithuania) that operates in the field of crypto currency mining, which owns a Mining Farm with a computing power of 43 PetaHash at the date 01.03.2022. BALTIC MINERS UAB is a 100% subsidiary company of V.A. MINING RIGH INC., U.S.A. Company which own many others mining farms located worldwide.
You can check informations About Us and company good standing in the Company Register official webpage in Lithuania. “Link of Baltic Miners UAB Registru Centras – Code 306025789”
What cryptocurrencies can be mined at Baltic Miners?
BALTIC MINERS offers the possibility to mine the following cryptocurrencies:
– Baltic Miners Financial Token (BMFT); Proof of Stake
– Bitcoin (BTC);
– Ethereum (ETH);
– Litecoin (LTC);
– Dash (DASH);
– Monero (XMR);
– Zcash (ZCASH).
How works cryptocurrencies mining at Baltic Miners?
SIMPLE AND CLEAR.
1. The customer has the possibility to choose the cryptocurrency to be undermined;
2. The customer has the possibility, for each crypto currency, to choose between 6 different “computing power purchase” plans which guarantee fixed annual mining proceeds (APY), according to the invested capital;;
3. The customer has the possibility to choose different deadlines to receive the payment of the generated proceeds. The choice of the deadline involves receiving a% profit in addition, in relation to the amount generated. (15 Days, 30 Days, 90 Days, 180 Days, 270 Days and 365 Days);
4. The customer has the possibility to choose how to receive the payment of the generated proceeds. (In mined crypto currency, in Bitcoin (BTC), in Tether USDT, in Euros or Dollars)
What factors determine the possible decrease in the profitability of the signed Cloud Mining contract?
NO FACTOR. BALTIC MINERS UAB takes care of all the countless costs deriving from the mining activity, and also takes care of the volatility and fluctuation of the value of the cryptocurrency chosen during the ongoing of the Cloud Mining contract.
What is the subscription cost of the Cloud Mining contract?
BALTIC MINERS UAB does not charge any costs for signing the Cloud Mining contract and start mining activities.
What is the minimum amount for the payment of the proceeds generated by mining?
BALTIC MINERS UAB does not apply any limit to the payment of the proceeds generated; all profits will be sent according to the period requested by the client.
How can the mining proceeds can be received?
BALTIC MINERS UAB offers the possibility to receive the proceeds generated by mining in the following ways:
– By the cryptocurrency chosen in your Cloud Mining plan sent to your wallet or exchange address;
– By Bitcoin (BTC) sent to your wallet or exchange address;
– By Tether (USDT) sent to your wallet or exchange address;
– By Euro (€) or Dollar ($) immediate SEPA bank transfer.
HOW MUCH ARE THE MINING PROCEEDS PER YEAR?
The % amounts of annuals mining proceeds depend on investments you will choose, please look at this information in our “Cloud Mining Plans” page or in our “Cloud Mining Terms of Services” page.
For more accurately simulation of Euros amounts of proceeds day by day you can download and use our simulation Excel file.
What is the amount of the fee charged for the payment of the proceeds generated by the mining?
BALTIC MINERS UAB, depending on the choice of method of payment of the proceeds, applies the following fees:
– Crypto equal to Mining plan = —;
– Bitcoin (BTC) = —;
– Tether (USDT) = —;
– Euro (€) or Dollar ($) =—.
Please note that fees can vary unexpectedly with each transfer. BALTIC MINERS UAB guarantees in any case that no markup will be applied to the commissions themselves.
When will I receive my mining profits?
BALTIC MINERS UAB offers the following temporal possibilities to receive the profits generated by mining with interesting benefits:
– Every 15 days;
– Every 30 days;
– Every 90 days;
– Every 180 days;
– Every 270 days;
– Every 365 days.
What are the benefits deriving from the choice of deferred receipt of the profits generated by mining?
Based on the deadline chosen by the customer for the payment of the generated profits, BALTIC MINERS UAB guarantees an extra profit calculated in relation to the amount generated in the related mining period.
Below we indicate the % of extra profit you will earn:
– If payments will be done every 15 days = + 0%;
– If payments will be done every 30 days = + 1%;
– If payments will be done every 90 days = + 3%;
– If payments will be done every 180 days = + 6%;
– If payments will be done every 270 days = + 9%;
– If payments will be done every 365 days = + 12%.
What is the duration of the Cloud Mining contract?
Cloud Mining contracts have a duration of 10 years.
The customer has the full right to be able to close the Cloud Mining plan early as indicated in the signed contract.
Can the customer terminate the Cloud Mining contract?
BALTIC MINERS UAB, offers the possibility to withdraw from the Cloud Mining contract at the end of the second year. The computing power that the customer purchased at the time of signing the contract will be reacquired by the company Baltic Miners UAB, applying a repurchase price already established in the initial contract.
The guaranteed repurchase price takes into account both the continuous increase in the difficulty of calculating Mining within the network and the physical obsolescence of the ASIC Machines.
What does Cryptocurrency Mining mean?
The term “mining” comes from the English “to mine“, which means to extract, and in the case of Bitcoin (BTC) represents the process of sharing the computing power of the hardware of network participants.
Security in the Bitcoin system (BTC) is entrusted to a mechanism called “BLOCKCHAIN”, ie a public and shared register of transactions in chronological order. Every 10 minutes or so, the system produces a new block with new transactions pending approval, which will be added to the chain once validated. The mining is therefore in synthesis the process that door to the addition of new blocks to the Blockchain.
Why is it convenient mining by using a Cloud Mining Plan rather than doing it personally at home?
Mining is a complex activity that requires specific skills in the sector.
Furthermore, mining is an extremely expensive activity, both in terms of hardware investment and in terms of electricity consumption. Cloud Mining is convenient because without any technical knowledge and without dedicating time to the initiative, a ten-year passive income is granted by UAB BALTIC MINERS to its customers through the purchased calculator power.
Why does any Cryptocurrency chosen in the Cloud Mining plan generate an equal annual percentage of profit?
BALTIC MINERS UAB, through an internal algorithm manages to distribute the computing power managing to optimize and maximize the profits derived from the computing power injected into the network, in relation to the investments received by customers. BALTIC MINERS in fact has decided to gratify all its customers regardless of individual choices, and that is why we currently guarantee the highest fixed annual profits on the market.
Why are higher mining proceeds offered if the capital invested increases?
Simply because a greater investment manages to proportionally acquire greater computing power with lower fixed and variable costs; therefore the yield is higher.
Why do Cloud Mining profits are reduced over the years?
The profits generated by cryptocurrency mining are reduced over the years because they are inversely proportional to the continuous increasing value of the computational difficulty (hash) of the network. Therefore the computing power acquired in relation to the initial investment will have a continuous decrease in the ability to receive rewards.
For more information see the following link: Bitcoin Difficulty Mining Chart
How is cryptocurrency mining technically done?
The network constantly creates a number of BTCs and randomly distributes them among the participants active in the block validation process. Each block contains the transactions of the last 10 minutes and is entrusted to a single miner.
This miner installs on his hardware a “Cryptographic Hash Software” that processes BTC transaction data, and adds a random or pseudo-random value called “nonce”. This value, together with the block data, generates an alphanumeric string called “hash”.
To calculate the contents of a hash string, the miner must make several calculations and attempts, thus producing numerous nonce.
Carrying out a lot of tests is the only possible way to find the solution.
These complex and unique cryptographic calculations are called “Proof of Work” (PoW), an incredibly complex system to counterfeit. In the calculation process the hash of the previous block is also added, which together with the data of the new block and the nonce, generates the hash of the current block. In this way the transaction blocks are linked together through hash sharing (the end of one block coincides with the beginning of the next. An attacker wishing to alter one or more past transactions would necessarily produce a new block with a different hash that would be immediately recognized and rejected by the other nodes.
When the string is validated, the transaction block is approved and added to the chain. One of the goals of proof of work is to prevent “double spending”, ie the move of Bitcoin to two wallets simultaneously with the same transaction.