What is it about?

It is a Bitcoin Mining Service. Here you can borrow hashing power at very competitive rates. You will profit from the Bitcoin mining activity without having to buy, set up and maintain your equipment. All you have to do is to find a sponsor, join and deposit some Bitcoins to start. Once your account is active, miners will keep working for you until the account will be fully rewarded.

A referral system is used to give a chance to increase revenues. Be creative on your advertising, and you will be rewarded. Your account will start with a 10% bonus. Members who join through your referral links will increase your bonus proportionally to their deposited amount. There is no limit on how much your bonus can grow.

With the advent of FPGA-based technologies, Bitcoin mining is becoming a complex and expensive investment. Unless you can afford to set up a large mining farm, it may take two or more years to reach the break even point, and FPGA units have an estimated lifespan of about 2 years. Thanks to our low cost production process, we have been able to set up an high-efficiency infrastructure. We can offer an easy to use managed platform, for both Bitcoin enthusiasts and investors, that allows a fast investment return.

Investing in Pyramining is indeed very profitable: the complete reward is estimated to be reached in less than 148 months. If you want you can do some math based on the following details: at the current conditions 1 GH/s of hashing power is added every 23.05 BTC deposited, which corresponds to 43.38 MH/BTC.

How does it work?

1. Join
2. Deposit any amount of Bitcoins to the provided address
3. Optionally invite people to join through your referral to increase your rewards
4. Wait and profit.

Please read the F.A.Q. for more details.

Is it a pyramid scheme?

It is not: rewards come entirely from Bitcoin mining, not by referral deposits. All deposited funds are used to buy new infrastructure. The referral system is made to allow you to increase your income by inviting new members. It is possible to join and don't invite anybody: bonus will be only 10%, but it's still profit!
All member accounts will be active until their reward is complete, even if they join late, and even if there are no referrals under them.
Read the F.A.Q. for more details.

Advantages

• It starts as soon as any amount is deposited
• No need to configure hardware or software
• You will profit faster than investing on mining by yourself, because hashing power is very cheap
• No limits on reward: the more your referrals will deposit, the more you earn
• You invest in cool technology
• Joining is fun!

How to preorder ASIC hashing power

New deposits in all accounts (new and existing ones) are allowed to allocate ASIC hashing power. In order to destinate deposits to ASIC units, you must send your funds using a special format. When the amount has 8 decimals and it ends with 1111, it is recognized as an ASIC deposit.

Here you can see a few examples:

Deposited amount	Destination
12.341	Current infrastructure (no 1111 as the last 4 decimals)
12.34101111	ASIC infrastructure (has 8 decimals and ends with 1111)
12.3411111	Current infrastructure (only 7 decimals)
12.00001111	ASIC infrastructure (has 8 decimals and ends with 1111)

Deposits made for ASIC technology are displayed in the account's profile section.

Notice that ASIC accounts will be put on hold until ASIC technology will be available, so they won't produce revenues immediately, like normal deposits do.
There is not an estimated date of deployment, yet, however we are working hard to make ASICs ready as soon as possible.

Other things to know

20 Apr 2013: Payout threshold lowered to 0.1 BTC.
15 Oct 2012: Added ASIC preorder method.
11 Oct 2012: Changed (improoved) referral links deactivation policy.
14 Aug 2012: Added support for multiple deposits (see discussion here and here ).
08 Aug 2012: Joining without a sponsor is not allowed anymore.
21 May 2012: This service successfully passed the beta-testing period and it's now considered stable.

Please join the discussion should you encounter any kind of problems.

© 2012-2013 pyramining, a bitcoin company