Is Genesis Mining Still Working? Reviews, Payouts, App

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Genesis Mining stopped offering new cloud mining contracts in 2021, and since then, most of its services have been inactive. Many users have faced payout issues and reported the complete absence of customer support. The Genesis mining app is no longer supported, and several accounts still show inaccessible balances.

Until early 2021, the Genesis mining company was one of the largest providers of leased computing power for Bitcoin and other cryptocurrencies. Since shutting down operations, its official site has shown no updates. Traders continue to look for answers on withdrawals, app functionality, and whether anything is still operational. A typical Genesis mining review often mentions frozen funds and no company response, raising doubts about the platform’s reliability. Some users had tried using tools like a Genesis mining bot for automation, but those are now outdated. Interest in Genesis cloud mining has faded as the company remains unresponsive, leaving its future uncertain.

Risk warning: Cryptocurrency markets are highly volatile, with sharp price swings and regulatory uncertainties. Research indicates that 75-90% of traders face losses. Only invest discretionary funds and consult an experienced financial advisor.

What is Genesis Mining?

What Is Genesis Mining?

Genesis Mining is a cloud-based cryptocurrency mining company that began operations in 2013. Instead of requiring customers to maintain physical mining rigs, the platform allowed them to lease remote computing power to mine coins like Bitcoin, Ethereum, and others. Users would buy contracts tied to specific hashrate allocations and earn rewards based on their share of the total mined output. Over the years, some have raised doubts, asking whether Genesis Mining is real or fake, but the company built trust early on through consistent operations and public engagement.

The company was co-founded by Marco Streng and Jakov Dolic, with a mission to create a reliable and transparent mining service. It positioned itself as a reputable alternative in an industry full of unregulated players. By participating in major blockchain conferences and maintaining active communication channels worldwide, Genesis Mining helped address concerns from users, including those wondering if Genesis Mining is still working, by remaining present even during market fluctuations.

Genesis Mining's operations are based in industrial-scale data centers located in regions like Iceland, Canada, and Bosnia. These areas were chosen for their access to sustainable and affordable energy sources, mainly geothermal power. This focus on green energy allowed the company to reduce operational costs while supporting eco-friendly practices. While many users search online for Genesis Mining apps, it’s important to note that the official platform operates primarily through its website, and any third-party apps should be approached with caution.

To protect its users, the official Genesis Mining website clearly warns against scam platforms like genesisminingbot and genesisminingvip. These websites falsely claim association with the company but are not part of its infrastructure. If you're looking for the Genesis Mining app's download, it's safest to access any tools or links directly through their verified website. Concerns around Genesis Mining payouts have also surfaced in forums and reviews, often due to confusion created by impersonators. The company urges users to rely only on official sources for updates regarding performance, contract status, and earnings.

Legitimacy and reputation of Genesis Mining

Genesis mining

When people ask whether Genesis Mining is legit, it's important to look at both its early credibility and later controversies. Genesis Mining started in 2013 and quickly became one of the most recognizable names in cloud mining. It was among the first to offer industrial-scale mining contracts and was based in Iceland, where it leveraged cheap renewable energy and low temperatures for efficiency. For years, the company maintained a clean image and worked transparently, attracting thousands of crypto newcomers. But things started to shift around 2018 when payout delays and reduced profitability became common.

Frustration grew when Genesis Mining's cloud mining customers began reporting that their mining contracts were being terminated due to "unprofitability." During the crypto bear market of 2018–2019, Bitcoin's price and mining rewards dropped, and users found themselves locked out of expected returns. Complaints surfaced across forums like Reddit and Trustpilot, and although no hard proof emerged of a Genesis Mining scam, public trust started to erode. The company never claimed guaranteed returns, a key legal safety net, but poor communication and opaque decision-making triggered doubts. Today, while Genesis bitcoin mining and Genesis crypto mining services still technically exist, the brand has largely faded in popularity as newer, more transparent mining firms entered the scene.

Genesis Mining apps and tools

Most people think of Genesis Mining apps and tools as just simple dashboards, but what really makes them useful is how they're built behind the scenes. The platform links straight to their actual mining machines, and it quietly moves resources based on changes in how hard or profitable it is to mine a coin like Ethereum. At one point, Genesis even tested basic AI to guess those changes ahead of time and shift your hashpower before the spike hit.

The Genesis Mining calculator shows profit estimates, but with more detail than expected. It uses smart pricing tools that factor in real electricity costs from each farm location, something most calculators skip. There’s plenty of talk online about Genesis Mining bot reviews, especially among users who automate how they manage contracts. And if you want to check everything for yourself, the official Genesis Mining website has public records and audit reports that many casual users miss.

Payouts and profitability

Genesis Mining once offered daily cloud mining payouts through its contract-based services. However, since February 2021, the company has stopped selling new contracts and has not restarted its operations. Many users continue to report ongoing issues, particularly with the Genesis Mining withdrawal process. These include locked account balances, lack of updates, and unreachable customer support. Some traders also mention that their assets remain stuck in dashboards, with withdrawal minimums that are impossible to meet now that mining has been suspended.

In the past, Genesis Mining provided a calculator on its site to help users forecast returns by entering hashrate and contract details. While that tool has been taken down, users seeking profit estimations now rely on external services like the NiceHash calculator. Over time, there have been many Genesis Mining reviews that reflect changing user sentiment, ranging from optimism during its peak activity to frustration after services were halted.

When the platform was active, Genesis Mining pricing varied depending on the contract type, duration, and amount of computing power leased. Today, there are no visible pricing models listed on the official site, as new plans have not been introduced. Despite some assumptions, the service was never free, any question like whether Genesis Mining is free is easily answered by its long-standing prepaid model, where users paid upfront for a share of mining resources.

Promo codes and discounts

Genesis Mining used to offer promotional discounts via codes that gave users a 3% reduction on cloud mining contracts. One such example was the code Xy3Pbc, which worked across all contract types and was promoted through affiliate sites like bitcoinlion.com. These offers were a popular feature among new users. However, since halting contract sales in February 2021, the company has not resumed its cloud mining operations. As a result, any existing Genesis Mining promo code is no longer valid for use or redemption.

Genesis Mining alternatives

Once Genesis Mining shut down its services, miners began seeking other platforms for cloud mining and hashrate rental. The most notable alternatives today include NiceHash, MinerGate, and Kryptex, each with unique features, pricing models, and user experiences. These platforms quickly attracted attention for offering greater flexibility and tools for users at different experience levels.

Genesis mining alternatives
Platform	Key features	Payouts / currency	UI / UX highlights	Best for
NiceHash	Hashrate marketplace, supports 30+ algorithms, auto-profit switching	Bitcoin (every 4 hours, min 0.00001 BTC)	Profit dashboard, remote control, no contracts	Advanced users needing flexibility
MinerGate	Multi-coin mining, Smart Mining, Android app, dual-mining support	ETH, XMR, LTC, ZEC	Clean interface, live hashrate, mobile access	Beginners and intermediate miners
Kryptex	PC benchmarking, fast payouts, power control, dual-mining (+25% profit boost)	BTC, USDT, SEPA, Qiwi, Gift Cards	Detailed settings, fast setup, auto-restarts	Home miners with standard hardware

NiceHash functions as a hashrate exchange, connecting users who want to buy mining power with those who sell it. It supports over 30 algorithms, including SHA-256, Etchash, KawPow, and Octopus. The platform automatically chooses the most profitable algorithm at any given moment. Many users who formerly relied on Genesis now prefer this model because it doesn't require long-term commitments. Payments are made in Bitcoin every four hours once a user meets the 0.00001 BTC minimum. In place of static contracts, the platform offers profitability dashboards, remote control of devices, and integration with third-party miners. It’s become a top choice for those looking for Genesis Mining alternatives that offer real-time flexibility.

MinerGate, on the other hand, provides a multi-coin mining pool and cloud functionality. It supports mining for cryptocurrencies like Ethereum, Monero, Litecoin, and Zcash. The Smart Mining feature recommends the most profitable coin to mine based on current market data. With versions for both desktop and console users, MinerGate also includes a mobile app for Android and supports dual-mining to increase productivity. Its clean UI, live hashrate tracking, and payout transparency have made it a favorite for miners who value ease of use. The Genesis cloud mining app may no longer be functional, but MinerGate’s mobile and desktop interfaces offer solid alternatives with a smoother user experience.

Kryptex caters to miners using standard home PCs. The software benchmarks local hardware to identify the most profitable algorithms and then converts earnings to fiat or crypto. Users can withdraw through various methods including Bitcoin, Tether, SEPA, Qiwi, and even gift cards. With a minimum payout of just $0.50, the platform offers rapid returns. Kryptex also gives users full control over power consumption, remote monitoring, and automatic restarts. A dual-mining feature boosts profitability by up to 25% on supported GPUs. For those exploring what Genesis Mining is, platforms like Kryptex now serve as modern replacements that offer even more personalization and user control.

For users who once relied on Genesis, the biggest draw in these newer platforms is the mix of adaptability and transparency in earnings. NiceHash stands out for its quick setup and no-lock-in structure. MinerGate is ideal for users who want automation without a steep learning curve. Kryptex appeals to home miners who value detailed controls and rapid withdrawals. While the Genesis Mining official website still exists as a reference, these alternatives have effectively filled the void for both hobbyists and semi-professional miners.

If you’re just getting started with crypto mining, having an exchange account is essential to convert your mined coins into cash or other digital assets. To help you out, we’ve put together a beginner-friendly list of some of the most trusted crypto exchanges. Take a look, compare their features, and pick the one that fits your needs best.

Best crypto exchanges for beginners
	Foundation year	Min. Deposit, $	Coins Supported	Spot Taker fee, %	Spot Maker Fee, %	Regulation	TU overall score	Open an account
OKX	2017	10	329	0,1	0,08		8.9	Open an account Your capital is at risk.
Kraken	2011	10	278	0,4	0,25		8.48	Open an account Your capital is at risk.
Crypto.com	2016	1	250	0,5	0,25	Malta Financial Services Authority	8.36	Open an account Your capital is at risk.
CoinMetro	2018	1	72	0,2	0,1		7.41	Open an account Your capital is at risk.
Ledger Wallet	2004		1817	0	0		7.3	Open an account Your capital is at risk.

We at Traders Union have over 14 years of experience in financial markets, evaluating cryptocurrency exchanges based on 140+ measurable criteria. Our team of 50 experts regularly updates a Watch List of 200+ exchanges, providing traders with verified, data-driven insights. We evaluate exchanges on security, reliability, commissions, and trading conditions, empowering users to make informed decisions. Before choosing a platform, we encourage users to verify its legitimacy through official licenses, review user feedback, and ensure robust security features (e.g., HTTPS, 2FA). Always perform independent research and consult official regulatory sources before making any financial decisions.

Learn more about our methodology and editorial policies.

Understand how Genesis Mining’s inactive payouts affect legacy contracts and wallet security

Some people think that when a mining platform goes silent, it automatically means they're entitled to something back. But with Genesis Mining, it's all about what your original contract actually said. If it included conditions like hitting a certain profit margin or had a renewal setup, you might never have reached that point, especially during the post-2021 mining slowdown. So before assuming there’s money waiting for you, take a closer look at whether your deal even met the payout requirements in the first place.

Also, a lot of folks forget to check where those mining rewards were supposed to go. If you linked your dashboard to an old wallet or used an email for alerts that you no longer access, you might be missing small, delayed payouts. This is especially common if you were earning lesser-known coins. Go back, check your transaction records, and scan for any small deposits. Sometimes, a few dollars in crypto dust is still sitting quietly where you least expect it.

Conclusion

After Genesis Mining ceased operations in 2021, part of its user base moved to alternative cloud mining platforms. The company no longer sells contracts, withdrawals are disabled, and its calculators and apps are no longer maintained. Account balances remain inaccessible, and customer support is unresponsive. Users have turned to services with active payouts and verifiable transactions. This article outlines several such platforms and their current conditions. The information helps identify working solutions without relying on inactive services.

FAQs

Is it possible to verify a cloud mining contract before payment?

Yes, request a trial account, check for active hashrates on the blockchain, and review the smart contract structure if one is used.

How can you tell if mining earnings are real?

Compare reported payouts with blockchain data and confirm that funds are sent to an external wallet, not just shown on a dashboard.

What can you do if account access is lost and funds remain?

Check site archives, use complaint aggregators, and document the case for submission to legal services specializing in digital assets.

Can cloud mining remain profitable with high network fees?

Yes, if the platform uses dynamic algorithms that switch between mining pools and coins to offset increased transaction costs.

Team that worked on the article

Maxim Nechiporenko has been a contributor to Traders Union since 2023. He started his professional career in the media in 2006. He has expertise in finance and investment, and his field of interest covers all aspects of geoeconomics. Maxim provides up-to-date information on trading, cryptocurrencies and other financial instruments. He regularly updates his knowledge to keep abreast of the latest innovations and trends in the market.

Learn about our editorial policies

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).

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