Bitcoin cloud mining has always been an area of the Bitcoin space which is largely left alone by the state, yet it’s always been filled with scams which pay little or often no return on the initial investment.
There are various cloud mining services already on the market, probably the most well known is Genesis Mining which are a genuine operation with many users claiming a return on their initial investment, there is also Bitclub which also offer a similar service although it’s marketed in an entirely different way. For years many were convinced Bitclub was a scam due to it’s pyramid style marketing structure, however, as time has gone on Bitclub has now risen to the Worlds 6th largest mining pool with users claiming some amazing returns.
We are slowly going through each offering on the market with small investments just so we can review the operation and it’s potential returns on investments.
Aurora Mining Ltd are a UK registered limited company, they can be found on the Companies House Website, the company has one appointed director who is shown also on the home page, Harvey Brown is the CEO and was appointed in September of 2017 when the Company was first registered.
First major issue is Harvey Brown, now take a good look at his picture which can be found on the homepage:
Now, where abouts would you place this gentlemans age, 40, 45 maybe?
No, try 20 according to Companies house, that’s right Harvey Brown was born in May 1997. So clearly this is not Harvey displayed in the picture, this does not of course make the whole operation a scam, we are fully aware that new businesses often have to place a veil over themselves to try and gain an initial customer base. After all, who’s going to invest in a new company who has a spotty, nerdy 20 year old geek as the CEO of the operation. It’s highly likely the other mentioned staff off Aurora Mining are entirely fictional and are merely to reinforce the illusion of a professional operation.
Still, let’s give them the benefit of the doubt for a little while longer and carry on looking at this new mining operation.
So its a very new business, opening on 26th September 2017 Aurora Mining is a high risk investment regardless of whether everything seems legit. They claim on their homepage that they have multiple datacenters around the World, however it’s unclear whether these are just contract miners through Genesis or another existing provider.
Judging by their total hashing power claim of 900 PH/s we will assume that most of their hashing power is via a third-party as this would make them one of the Worlds largest Bitcoin Mining operations in the World.
One of the most, if not the most important factors to consider with any Bitcoin Cloud Mining Investment is the ROI, Return on investment. With no return on your initial investment it would be a little silly to invest.
So we trial out Aurora Mining with a mere 0.01BTC investment, it’s worth noting that all new sign ups currently get 100GHZ free hashing power, so together with the free 100GHZ our 0.01BTC investment bought us 4449GHZ.
You can see below the successful deposit of our precious BTC:
Below is the total Hashing power we now possess, along with the total already hashed. As you can see just a few minutes into the contract and we already have 0.00006259BTC generated.
According to Aurora Mining the expected profits are 10% per day on a 0.01BTC investment, so in theory this time tomorrow we should have mined 0.001BTC, within 10 days we should have our ROI. At day 20 we could technically take our initial investment amount out while reinvesting a further 0.01BTC for another few thousand GH/s hashing power.
All seems a little to good to be true doesn’t it, and it might well be just that, such high returns so quickly are rare, so follow us this week as we see if Aurora Mining can live up to their promise.
In the meantime you can sign up for FREE and get your FREE 100GH/s hashing power, after all what do you have to loose, it’s FREE!
Do They Have An Affiliate Programme?
As with just about all Cloud Mining providers they also offer an incentive for referrals:
What do we mean by 6% + 3% + 1%? By 6% + 3% + 1% we are on about our referral commission rates, with 6 % being the people who you have referred directly, 3% being the people referred by your referrals and 1% coming from the people who give you 3%, so the more referrals that happen from you and your friends the more you all earn, it’s a never ending gain!
Sounds fair, so please if you are going to sign up for the free hashing power use our referral code, check back tomorrow for an update on how much our investment has mined.
Scam or Not?
I wouldn’t recommend investing your own money though as yet, not unless you have a little Bitcoin you don’t mind loosing. Profits here are good if their claims are genuine, but remember the operation is only a few weeks old and much of the content on their website is questionable to say the least. See how many spelling mistake you can find!
It’s hard to tell if they are just a scam operation paying customers with new customers bitcoin until they can generate a significant profit for themselves before shutting down the operation (common method used in scam mining operations), or whether they are in fact attempting to break into the relatively untapped market of Bitcoin mining. I cannot see how they can sustain the profits they are claiming to generate for their clients, the returns are simply not sustainable in my opinion. If we are to assume they are using third-party mining services such as genesis mining, then how can Aurora Mining offer us better ROI than Genesis Mining – The math just doesn’t add up.
UPDATE 16th October 217 – Day 2:
Currently the total mined Bitcoin sits at 0.00134BTC, around 12% of my initial investment. At the current rate of returns the ROI is due to be hit on day 10. Of course a decline in the mining rate could occur at any point, so we will update you again in a couple days with the latest results. It’s also worth baring in mind that until we get the funds back out of Auroamining – all bets are off!
UPDATE 17th October 217 – Day 3:
Currently the total Bitcoin mined is at 0.00231055BTC with day 10 still being the target date for my ROI, unless there is any change to the current increase in generated bitcoin we will now wait until day 10 before the next update. Once the ROI has been made we will withdraw the money to ensure this process works as it should.
In the meantime if you want to get your free 100GH/s Sign Up here.
UPDATE 23th October 217 – Day 9:
Well it appears Aurora Mining has gone offline, most likely the scam is now closed for business and they’ve taken what they can. I hope anyone who attempted to work this scam for a profit succeeded and to those that didn’t manage to get a ROI I hope you were playing with small change rather than serious bitcoin.
We’ll keep you posted if it manages to resurrect itself from the HYIP graveyard.