Sun Mining is an Eco-friendly cloud mining scam. The website Sun-Mining.com, is taking a unique approach to marketing in order to target those who would like to invest in Cryptocurrencies while also preserving the environment. They know that such people have been ignored by the mainstream companies that claim to mine Cryptos in the cloud on behalf of their customers.
But for them to attract this group of clientele, they have to convince them that their cloud mining operations are entirely powered by solar energy.
Sun Mining is actually one of those cleverly designed websites with a specific target in the Cryptocurrency investment industry. They know what they are looking for. They are very precise. But the end result is that the investor will ultimately lose everything that they ever donated to this website.
As to whether or not they use green sources of energy to power their cloud mining activities, we can say that this is just a marketing gimmick. We are yet to see tangible proof that indeed Sun Mining is mining Cryptos using solar energy and nothing else — something that can be extremely difficult to prove unless they are willing to let us know where their mining rigs are. But as far as security is concerned, this is not a realistic option.
It’s a platform that claims to mine Cryptocurrencies on behalf of its investors. As an investor, you simply need to make a deposit and the rest will be handled by this company on your behalf. It’s a virtual Cryptocurrency mining website.
The site encourages incentivized deposits where the more a client is willing to deposit, the more hashpower they can buy.
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The site currently supports investments in Bitcoin, Ethereum, Dash and Litecoin. Of course investors can choose how much profit they want to make on a daily basis based on their acquired hashpower. Now, this sounds like the best deal ever, especially for someone who is environmentally-conscious. But wait. There is a real possibility of losing money in the hands of these people.
When we listen to them, we learn that the domain Sun-Mining.com was allegedly registered in 2015, around the same time that Sun Mining came into existence.
It was started by private investors who live in Australia. As a coincidence, these private investors also owned large chunks of land which they decided to use for building their solar energy plans and data centers.
Now, when we look at the website carefully, we don’t find any reference to a credible corporate entity which is responsible for the mining operations of this website. Their terms and conditions equally fail to touch on this subject. It is weird that such a website is not being backed by any corporate or company which would then be in charge of their business operations. It’s quite weird.
To identify them, we would need to rely on a physical address and two email addresses which can be found on the site.
The exact physical address which this website provides is One Farrer 1 Farrer Place, Sydney, New South Wales 2000. Clearly this is an Australian physical address.
Now, this is quite convenient for us because when we have such an address, we simply run it on Google maps to see if such a location even exists. Unfortunately, Google maps results turned negative. No such place exists anywhere in the Australian continent.
Looking at their ”About page”, we find two emails namely [email protected] and @sun-mining.com. This is supposedly their business address. We mailed them concerning the issue of their physical address and haven’t got a reply since then.
Sun Mining is basically a virtual Cryptocurrency mining website which offers an opportunity for people to mine Cryptos without having to procure equipment needed for performing this kind of task.
With that arrangement, an investor doesn’t have to purchase mining rigs or even think about maintaining any mining rig because this task is performed by the company in question and not the investor.
This arrangement allegedly saves an investor from the high cost of electricity as well as maintenance fees that accrue in the course of the mining operation.
There are 16 different packages in total. Investors are able to choose their suitable plans in this website. Plans come with a 3 year contract.
The major highlight here is that Sun Mining is running this operation for 25% less maintenance fees compared to competitors who mine using regular electricity. They claim that their mining rigs operate using solar energy only.
Like we mentioned before, we are not able to verify these claims. But they sound absurd indeed, especially when you consider the fact that such a statement cannot be used to justify the crazy return on investments promised by this site.
We used their calculator widget on the website and discovered that if you invested 0.1 BTC for example, this would give you a profit at the end of 3 months.
When we make calculations while factoring in 12 months as the length of time for the investments, we find that this would translate to a profit of 515%.
We wished that they were able to prove their transparency or trustworthiness. Unfortunately, they’ve not been able to do so.
First, they are an anonymous service, and secondly, they are promising returns that don’t make sense. If the returns don’t dwell to the proximity of being plausible, then we can confidently say that this is a scam and nothing more. It’s a common trait seen in scams that operate in the cloud mining space. So why would Sun Mining be an exception?
This site is not transparent because according to the explanation given on their website, we learn that they launched this business in 2015, and that means the domain was also registered in 2015.
But when we consult who.is, we see that this website came live on the internet in July 2017. That means Sun Mining is only a couple of months old.
Moreover, the site does not even mention which kind of mining hardware they are using for their operations. It is rather strange to realize that this site is very discreet when it comes to disclosing important details.
In just a couple of months, this site has managed to receive enormous traffic. Upon close investigations, we see that most of this traffic is from review sites and forums like Bitcoin talk where potential investors are always debating on whether or not Sun Mining is legitimate.
However, those who have actually got up-close to this website claim that this is a possible scam since their operations are 100% similar to those of a pyramid scheme.
It’s very risky to invest in this site. We know that the idea of cloud mining is quite appealing to those who are always on the lookout to making a profit through some company that runs cloud mining operations.
If you’re reading this and are uncertain where to go next for your cloud mining investment endeavors, visit this link and sign up immediately.
Always stick to this rule of thumb: if it’s too good to be true, stay away because it’s a scam.
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