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Let’s look at some of the advantages and disadvantages of cloud mining. thumbs up Advantages of Cloud Mining ✓ You’re not responsible for the equipment. If something breaks, you often don’t need to replace it or repair it (however, always be careful to read the small print in a cloud mining contract. The company might require you to pay for damage done to their equipment!). ✓ You can make money by Bitcoin mining without spending thousands, or millions on mining equipment. This also means you don’t need to deal with the heat or the noise in your own home or other potential locations. ✓ The final advantage is that you don’t need to know anything about cryptocurrency mining. If you want to cloud mine, you probably don’t need this guide on how to mine Bitcoin at all! thumbs down Disadvantages of Cloud Mining ✗ You pay money upfront. If the price of Bitcoin drops considerably, you might be stuck in a contract and mining at a loss until the price increases again (if it ever does). You take all the risk as the cloud mining operator is guaranteed a profit. ✗ You can’t upgrade or change either the mining software or hardware used by the cloud mining provider. ✗ Cloud mining companies are targets for hackers. In July of 2017, Genesis Mining was hacked. Bitcoin was transferred from the company’s hot wallet to an external wallet. Personal opinion: If you want to get hold of some cryptocurrency but don’t want to invest in expensive mining hardware, just buy some Bitcoin with the money you would have spent on a cloud mining contract. That way, if the market takes a dramatic downturn, you can sell your position. You won’t be stuck in a mining contract that is becoming more and more worthless by the day. How to Mine Bitcoin in a Pool: Tutorial So, you probably want to start mining Bitcoin already? There are a few things that you must have before you begin: At least one ASIC Bitcoin mining rig. A mining application. A digital wallet to store the Bitcoin you make. Ventilation equipment - fans, ducting (only for larger operations). Membership at a pool. Power Splitters. Power supply units (the wattage of your ASIC will determine how many and of what power you need). Ethernet cable. Internet connection. Computer or mobile device capable of browsing the internet. Setting up the Gear The specific setup options will vary depending on the model of ASIC miner you are using. The manufacturer should detail exactly how to do this in their user manual or on their website. The following guide is specific on how to mine Bitcoin with the Antminer S9 unit on the Antpool. However, much of it will be useful no matter what ASIC miner you decide to use. 1. Find the power draw of your ASIC. This should be clearly stated in the manual under specifications. The S9 uses 1,275 Watts. 2. Match your power supply units to the power draw. Two 110v PSUs of 1,000W and 650W will be sufficient for most single miner operations. 3. Connect the power supply units to the Antminer unit using the relevant connections. 4. Once connected to the power supply, insert ethernet cable and plug it into your internet’s router. 5. Make sure all the necessary connections are made then power up the power supply. Your Antminer S9 should now come on. 6. On your computer or mobile device, use an IP scanning tool to show the devices connected to your internet connection. You should see your Antminer listed. You can then type the IP address of the Antminer into your browser window on your chosen device. 7. The next screen you see should be the login window of the miner. In the case of the Antminer S9, the default login details are username - root, password - root. You can change these by clicking on the “Admin” tab. I recommend doing this.How to mine Bitcoin: Ant Mine. 8. You will now need to enter various details from the mining pool you will be using. You should be able to find these out easily from the website of y...