MiningRigRentals – hash rate rental pool

MiningRigRentals has created an intermediary service for leasing and renting cryptocurrency mining equipment.

The robust platform allows customers to purchase hashrate for mining digital across 100+ types of algorithms. As of today, it is the largest selection of coins, among similar services.

Owners of ASIC miners can not only rent equipment, but also mine cryptocurrency on their own in any of the third-party pools. The service only deals with software and the development of hashrate rental marketplace, as well as support and exchange of traffic between pools and cloud mining services.

Pool history

MiningRigRentals service has been operating since 2014, but the developers maintain complete anonymity. Analysis of the application code allows us to conclude about the American origin of the platform, which coincides with the rumors. They claim that the cloud pool is operated from New York.

Features of MiningRigRentals

The MiningRigRentals website is primarily aimed at beginners who want to try mining without investing in equipment. On the Market place tab, potential tenants are constantly offered to choose the most profitable algorithms for mining, due to the increase in the rate of coins or decrease in the complexity of their hash rate.

Users of the site can buy computing power in a few clicks and start profitable mining in a few minutes, any of the proposed cryptocurrencies. If the rented equipment does not deliver the declared hashrate, MiningRigRentals pays a compensation, after checking the complaint.

Miners renting equipment get the highest prices for the provided capacity among competing services. They are calculated automatically, but the customer can manually set the rates.

MiningRigRentals charges fees for mining in Bitcoin Cash, Ethereum and Litecoin. The chosen form of payment is credited to the miner’s account daily, except for the rental fee. It is delayed by 12 hours, to avoid possible claims, for example, when the user did not give the lessor the declared hash rate.

At the end of the rental period, the rig or ASIC is independently transferred by the platform to the pool previously specified by the miner. If the farm cannot contact it for some reason, another platform is chosen, but only if it is specified by the miner. MiningRigRentals developers have done everything to prevent equipment downtime.

Registration

Working with MiningRigRentals starts with registering a Personal Area, after clicking “Sign Up Now” on the home page of the site or “Register” in the upper right corner.

The registration process is much similar to opening an account in other cloud pools. The user has to come up with a username and password and wait for an email to be sent to the specified email address.

Unlike other services, MiningRigRentals asks to come up with a PIN code, which will be required for the withdrawal of funds, and make sure to include capital letters, numbers and symbols in the password.

The first and subsequent logins to the Personal Area are done using a nickname, not an email. User can set up 2FA to enhance additional protection of the account.

Linking a miner to a cloud pool

ASIC miner or farm is linked to the account through the “My Rigs” option at the top of Personal Area.

On the page that opens, find the “Create Rig” option to call and fill out the equipment card:

Specify the name, not forgetting what will appear in the international marketplace rent hashrate

Choose a mining algorithm that supports the equipment to be bound

Designate a hash rate (real, this determines the rating of the account)

  Choose a server that is close to the geographical location of the farm

MiningRigRentals has 13 servers scattered around the world. They are indicated on the map at the bottom of the home page, their address can be found by pointing the mouse cursor on a particular data center.  For example, for Russian users, the site with the address “eu-ru01.

The last point, “Automatic Pricing” will evaluate the hash rate of the user and automatically generates a rental request in the marketplace on his behalf. Choosing the option – “No”, the miner can later price himself or just start mining for himself through any pool.

After clicking the “Create new rig” option, the new equipment account appears in the Personal Office of the user. By clicking on the login name, the client receives the necessary settings for the ASIC miner or farm – stratum server, port and worker name.

This data is located at the bottom of the rig settings window, along with other information: a link to the rig statistics page, lease status, the size of the user-defined hashrate, the type of mining algorithm, etc.

The pool for mining is selected on the Pool Configuration tab. The user can select any available cloud pool to which MiningRigRentals will independently connect for cryptocurrency mining when the equipment is not rented.

The client should choose several options to ensure uninterrupted mining. MiningRigRentals will automatically switch to a second pool if the service from the first line has problems.

Cloud pools are added to myAlpari through the “Add Pool” option, after filling in the pop-up tab. In this window, the user must prescribe the stratum of the selected third-party service and the port for mining the selected type of cryptocurrency, come up with a password and vorker, as well as specify the priority.

Renting a Rig

Rental readiness is specified in the settings of the Rig on the “Setting” tab. It is necessary to set the Rental Status line to “Available”, at the bottom of the window set the minimum and maximum number of rental hours. The last line – “Allow Extensions” regulates the possibility of automatic extension of the lease. The option “No” will allow the owner of Rig to avoid unprofitable contract prolongation at the time of cryptocurrency rate growth.

The user can trust MiningRigRentals to choose the cost of the hash or set the rates themselves on the “Pricing” tab.

By default, the base rental price is set in BTC. If the user is ready to accept another type of cryptocurrency, he will have to make the following series of settings, which are shown below on the example of Litecoin.

In the line for selecting the type of digital currencies, one must click on the “LTC” tab. Below, in the Litecoin Pricing section indicate the answer to the question “Enabled”, the answer is “Yes” and select “BTC/Coinbase Rate” in the “Automatic pricing” line.

Now if the tenant can pay in LTC, to accept all 4 types of digital currencies provided in the service, it is necessary to make similar settings for BCH and ETH sections.

Rent statistics is displayed on the tab “Statistic” as highlighted sections. In moments of lack of demand, when the supply “hangs” on the hashrate market, Rig automatically switches to mining cryptocurrency in the cloud pool specified by the user.

Conclusion

MiningRigRentals hashrate rental service removes the problem of choosing a suitable mining pool. The service’s software will ensure ASIC miner or farm owners, uninterrupted operation of the equipment, automatic switching between different cloud platforms.

The client can get additional profits by renting hashrate capacities on their own for a period of time using the most profitable coin mining algorithms suggested by a special selection of MiningRigRentals from 100+ supported consensus.

The rental platform allows you to set up your farm in a fully automated and round-the-clock mode. The well-established statistics of MiningRigRentals allows you to get a full and instant report on equipment usage from any remote location.