Genesis Mining, one of the leading Bitcoin and Ethereum cloud mining companies, has announced that it is upgrading its ASIC X11 clients from one year to two year contracts.

The company re-launched the X11 contracts last week, featuring brand new ASIC technology that no other mining company is currently using. Cryptocurrencies other than Bitcoin are climbing to new heights steadily, for example Dash and Peercoin. These coins often use a different mining algorithm than bitcoin, called X11.

“After testing a larger batch over a longer period of time we are happy to announce that we can upgrade all of our ASIC X11 clients from one year to two year contracts”, Genesis Mining said. “The electricity cost for the second year will be free of charge, as well”.

With X11, the company is offering the “Genesis Mining Advanced Autotrader”, which mines the most profitable X11 Cryptocurrency and automatically converts the profits to Bitcoin, which miners receive daily.

Miners interested in purely mining an X11 currency like Dash, they just have to set up a contract and a designated wallet and will start receiving payouts in that cryptocurrency.

Genesis Mining completed two years of its existence in April this year. 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.