Bitcoin

Hashflare increased their price on bitcoin mining contracts!

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Attention!  Hashflare has increased their prices!

Hashflare (http://hashflare.io) has increased there prices for bitcoin mining contracts.  Up until a few days ago hashflare’s price per 10 GH/s (that’s 10 giga-hashes per second) was a $1.50 per, now it’s $2.20.  I don’t know if the maintenance fees have gone up but the price of the contracts has.  That’s a huge increase!   Just to be clear, this is the price YOU pay when signing up for a contract.  If you’re not familiar with cloud mining contracts, you pay a fee to mine bitcoin (or other crypto currencies).  The idea is you’re not coughing up money for the hardware so it’s a nice alternative.  In addition to the up front fee, you usually have a maintenance cost associated with each payout.  All in all it’s typically a good deal and when bitcoin prices were rising, it was awesome.  Now that it’s declining it’s going to hurt your bottom line.

This increase is significant since you’re paying this upfront.  I know a $0.70 increase doesn’t sound like much but you have to imagine most people probably buy in increments of 1 TH/s which is 1,000 GH/s.  So if you do the math, you are now paying $220.00 when just a few days ago you were paying $150.00.  That extra $0.70 is hitting hard, turning into an additional $70.00 of up front cost.  If you pull the trigger and do the max, you’re now paying $22,000 instead of $15,000.. that’s a 7K jump.  To see the current prices visit http://profit.hashflare.eu/en

I’m currently researching hashflare and genesis-mining (for cloud mining).  In a future post, I’ll cover: how they work, are they a good deal or a bad deal, and most importantly how to get paid as well as any quirks I find along the way.  I plan to release the blog (mid January 2018) after working with the sites for about 1 month.  As of this writing, I’ve been cloud mining on hashflare for about 1 week and the same for genesis-mining.

This is the first time I’ve seen a price hike but I’m sure there’s been others.  I didn’t see any reason or warning on the price hike, so your guess is as good as mine.  It may be a simple supply and demand sort of thing.  I’ve started digging in the hopes to find out more and will write an update if I can find a reason why.   As far as I know hashflare is the only mining company still offering bitcoin mining contracts, all the reputable ones don’t have the available resources and Hashing24 doesn’t offer US contracts anymore.  Once their competitors install more mining equipment we might see the price lower again.  Either way, I thought I’d share this just in case you are interested.

In the next day or two I’ll add a page that will track the price of both hashflare.io and genesis-mining.com.  If there are other cloud mining operations you’d like monitored let me know.

Thanks for tuning in!