Blockchain And Cryptocurrency Provider

Bitluck Review 2021

Last Updated in Jan 2021
Bitluck Review 2021

Table of Contents

Introduction

Bitluck was founded in 2019 and is registered under the business name, Bluck Kft. They are a cloud mining company based in the small Hungarian city of Szigetszentmiklós and with locations throughout the world.

Bitluck is a cryptocurrency cloud mining (Bitcoin mining) platform that enables users to mine bitcoins without managing the physical hardware. They proclaim themselves to be the first cloud mining company that fully legally operates in the European Union. They don’t trade bitcoin or electricity and instead provide services for the rental of high end computing power from established data centers.

What is Bitluck?

In a nutshell it’s a platform that sells computing power – it’s that simple. They operate 12 data centers around the world and provide specialized equipment for mining.

Bitluck buys mining rigs and electricity in large quantities in the wholesale market so they get the best pricing available. A core responsibility for Bitluck is monitoring and managing the data center’s to ensure uptime.

The process is really simple

  1. Bitluck’s data centers generate a huge amount of computing power
  2. A user purchases a contract for computing power and decides what pool to mine in. The only option at present is Slush pool.
  3. Pool members receive a share of the mining rewards for processing transactions and validating blocks.

What is a Mining Pool?

Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power. Mining in pools began when the difficulty for mining increased substantially and it was no longer possible for individual users to mine with their own laptops/PCs.

What is Slush Pool?

Slush Pool was the first mining pool and probably one of the best and most popular mining pools. It’s consistently in the top 10 pools , but only accounts for 3-4% of Bitcoin blocks mined.
https://miningpoolstats.stream/bitcoin

Why Pool instead of mining alone?

The community of miners (the pool) has a much higher chance to find the block because the hashing power is much higher.

Bitcoin generates 1 block every 10 minutes and the mining reward now is 12.5 bitcoin. If someone in the pool finds a block, it is distributed to all members of the pool.

Bitluck Data Centres

BitLuck has data centres in Canada, the USA Japan, Kazakhstan, Ukraine, Iceland, Hungary and Hong Kong.
They guarantee the uninterrupted internet access and stability of servers.
The total power capacity of all locations is equal to the power capacity of all solar panels in Australia.

If you wish you can request a site tour of one of their facilities through their website. Check it out here: https://bitluck.com/facilities-tour-application

12 datacentres

Bitluck Plans Available

There are currently three computing plans available: 20TH, 100TH, and 500TH. The durations offered are 150 days, 250 days, 360 days and also unlimited.

computing plans
We started off with the 20TH for 150 days to test. The pool we’re mining is SlushPool and as you can see we’ve started generating revenue.
bitluck revenue

Payment Options

You can pay using Paypal, BTC, Credit Card, Bank Transfer, ADVCash and PlasmaPay.
Paying with BTC is a great way to allow you to grow your BTC holdings.

Bitluck Payment Options

Conclusion

Bitluck is a good option if you have some Sats and you’re looking to stack more. The service is very easy to use and the payouts are automatic and daily. For the average bitcoiner, mining is not really an option given the computing power necessary. Bitluck gives you the ability for anyone to get involved in mining without the cost to acquire and manage expensive hardware.

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Bryan

Bryan

Based in Ireland, Bryan is the founder and CEO of Boinnex. He has worked for almost a decade as an IT Project Manager contracting across finance, banking, insurance, tech, and healthcare industries. He found his way into the crypto space in 2017 when he started a contract role with IOHK — the dev company behind the Cardano blockchain. Since then, he has continued to be actively involved in different projects in the crypto and blockchain space. He enjoys learning, writing, and sharing knowledge about all things crypto.

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