Genesis Mining, the world’s leading Bitcoin cloud mining provider and first Ethereum cloud miner, has substantially cut the price to mine Ether. Starting today, the price will be $37 per MH/s, reduced from the current rate of $44 per MH/s.

The company expanded its mining operations with the launch of Ether Cloud Mining contracts in December 2015. Commenting on this price change, Genesis Mining co-founder and CEO Marco Streng stated:

“Every day, we are working to reduce operational costs to mine on behalf of our 200,000 customers and every time we have the opportunity to provide greater ROI potential and value to our customers, we are honored.”

In addition to this announcement, the company also released footage of its Ether cloud mining farm, Enigma, which is the largest Ether cloud mining farm in the world.

“The reason we are able to continue reducing the price for our customers is due to heavy optimization of the Enigma farm and economy of scale. We are proud of bringing Ether Mining mass deployments to a next dimension with Enigma”, said CTO of Genesis Mining, Stefan Schindler.

Ethereum’s recent growth has led several cryptocurrency exchanges to announce their support for Ether trading – Bitfinex, CHBTC, Coincheck, more recently Gemini and many others. Speaking of Ether price, it was $1 just a few months ago, then it shot up to $13 and today it has settled at just under $10.

This rising popularity is driving more and more users to invest in Ethereum directly, while many are turning to Cloud Mining to enter the market. Although the future of Ether remains uncertain, the tone of the conversation surrounding Ether is different than almost any other cryptocurrency.

“I believe it is headed to the moon and we are building a rocketship to make sure our customers do not miss out”, Streng added.

Genesis Mining completed two years of its existence last month. In March, the company announced the launch of the world’s first Bitcoin mining fund, to be called Logos Fund. It reached a milestone of more than 100,000 customers in November 2015.