Pioneering cloud mining company is celebrating its merger with HighBitCoin and landmark sales by offering another first: the world’s cheapest mining. 

In a press release issued Wednesday, the Texas-based corporation announced that for the first time in the history of the market, cloud mining can be bought by users for under US$2 per GH. CEO Lukas Gilkey said: 
“Our recent merger with the advanced hardware manufacturer HighBitCoin to form the company PeerNova allows us to do things no one else can in regards to volume of hashing power and price point.” 
The partnership is proving to be a potent combination, with PeerNova having already released a refreshed miner, the PetaOne Blade, which features “a custom 28nm chip with an industry leading power efficiency of 0.35W per GH/s.” 

Gilkey commented to Cointelegraph via email: 
“Our new PeerNova Bitcoin miners are the most advanced in the world. They are essentially supercomputers, best utilized in data centers that can provide the power and cooling needed.” 
As for the mining contracts themselves, the CloudHashing announced in its newsletter that the discounted rate of US$1.99 per GH with limited volume is available on a first come, first served basis in anticipation of considerable demand. The contracts will go live in August and run initially for one year. 

Clear outlook 

The scheme comes following a particularly successful period for CloudHashing, which celebrated mining over 35 thousand bitcoins in the last eight months at an equivalent value of over US$21 million based on today’s BTC price. The company is now looking to expand its share of the market, with its client base numbering approximately 7 thousand users who have purchased contract cloud mining. 

“As mining from home for consumers becomes increasingly obsolete, we will use our next generation hardware to provide the best mining options available to our customers,” said Gilkey. “With PeerNova’s single unit racks capable of one Petahash each, we can easily deploy mining contracts for customers of multiple Petahashes and beyond.” 

As Bitcoin mining competition steps up and the process becomes more intricate, CloudHashing is taking a step towards securing its position as a definitive go-to service for those wanting to be part of the phenomenon. 

“Needless to say, we’ll be providing access to massive amounts of mining hardware to customers all over the world just as we have in the past,” Gilkey adds.