Official Information From Genesis Mining Regarding Delayed Payouts

26 Jul

Users of the Genesis Mining cloud mining service have reported that the last few days they did not get their regular daily payments. Today the company has revealed details for the reason of the payment delays and their plan to get back things to normal as soon as possible. It seems that on July 21st there has been a hacker attack that has resulted in some disruption on the normal operation of the cloud mining services though the actual mining operations have not been affected.

Every single one of our customers will receive their missing payouts as soon as we’re sure about the safety and integrity of our payment system. One of the advantages of the daily payout system is that it helps prevent actual losses, even in moments like these that cause delays.

The next payout is being scheduled, and all missing mining profits will be paid out to our users during the coming days. Genesis Mining will cover the full amount, and you will receive all of your payouts. The mining profits will be released gradually with the usual daily payouts, so you will receive two payouts a day instead of the usual single payout per day, until all missing payments are complete.

The good news is that things will get back to normal very soon and all payments due to users will be processed and sent, so no actual loses for anyone using the cloud mining services of the company, just a bit of inconvenient delay in getting paid.

To read the full official explanation about the situations with the delayed payments…

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6 Responses to Official Information From Genesis Mining Regarding Delayed Payouts


July 28th, 2017 at 02:53

Marco Streng is a good guy, I trust in him and his company.


July 28th, 2017 at 08:37

The theory goes that they are deliberately holding back funds until after the BCC fork on August 1st, and then they’ll make a sh1tload by keeping all the forked BCC, and paying people out in BTC. Because of this, expect BTC to rise and BCC to plummet soon after August 1st, as the selloff of BCC to pay BTC cloud miners creates a bear market selloff frenzy of BCC.


July 29th, 2017 at 20:10

A week after paying them USD$1950 less 3% discount for 15TH/s and I’m still yet to see a single satoshi. Genesis are now officially scamming people. Sad.


July 29th, 2017 at 20:26

Payouts have resumed, they are currently processing the ones from 22nd, though they still need a lot more to catch up…

Alex @ The detectorist

July 31st, 2017 at 13:19

Beware, I think they are scamming people as many did in the past. Site credibility is affected, then a turn of “events” are happening and then no more payments.


September 14th, 2017 at 22:28

They posted on the 31st August to let everyone know daily payouts have been fully restored.

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