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Archive for the ‘Cloud Mining’ Category

ZeusHash with New Mining Partner and Cloud Mining Contracts

15, Apr 2015

zeushash-halley-ghs-cloud-mining-contract

ZeusHash hasn’t been doing that well in term of their cloud mining offers on their way moving from a Scrypt ASIC manufacturer to a cloud mining service provider. They stopped offering LTC mining contracts with the downtrend of Litecoin and because of their use of aging and not so efficient in terms of performance and hashrate hardware (especially after cancelling their Volcano project) leaving some unhappy customers that might have invested in LTC cloud mining contracts. The service moved to offering only BTC cloud mining, but there they also had some issues with their initial mining hardware, apparently due to it also not being the most efficient resulting in smaller profits from mining due to high maintenance costs. Then some mining farm facility issues and moving between new “Batches” of mining hashrate with different not so attractive prices and slightly better maintenance fees.

Today ZeusHash has announced that they have partnered with HalleyChina, apparently one of the big players in the industry who owns a TOP 3 mining farm in China (and you probably have not heard about them), and as a result they are offering a new Bitcoin mining contract called Halley GHS. The prices for the new contract seem much more reasonable than their previously available Batch III hashrate priced at $0.889 USD per GHS and the maintenance fee is now further down, making the new Halley GHS finally an interesting offer from ZeusHash. For orders below 1 THS you can purchase at a price of $0.339 USD per GHS (around 0.00155 BTC per GHS with the current exchange rate) and if you purchase 1 THS or more you can get a price of $0.299 USD per GHS or around 0.00135 BTC per GHS or prices that are among the best for cloud mining hashrate at the moment. The maintenance fee is currently set at $0.0016 USD per GHS for the Halley GHS cloud mining contracts. What we hope however is that this partnership will not end up being bad for the users like some other Chinese cloud mining partnerships ended in the last few months.

– For more information about the new Halley GHS Cloud Mining Contracts on ZeusHash….

Where We Are Still Cloud Mining for Bitcoins

11, Apr 2015

cloud-mining-services

Over the past year and so we have seen many cloud mining services come with big promises and then go either turning out to be scams or failing due to some bad business planning etc. We’ve tested quite a few of these and lost some money on some, on some we’ve won even though they are no longer available, but there are still a few services that are still here, work fine and pay regularly to their users though we actually had some doubts about some of these.

One of the earliest large scale cloud mining operations, namely Cex has transitioned to an crypto currency exchange only and while it was operating as a cloud mining service the chance to actually perform well was to not only cloud mine, but trade your hashrate all of the time. This was true for many cloud mining operations that came with a built in market where users can sell hashrate, though this allows you to exit at any time by selling your hashrate. We did not like this concept that much as it takes a lot of your time to actually make profit and one of the goals of going the cloud mining way is exactly to save you the trouble of needing to spend a lot of time on the mining-related things.

Some Chinese ASIC manufacturers started promising cloud mining operations, but failed miserably or are going that road pretty fast. A recent example is the AMHash operation that had various issues pretty much from the start and is pretty much dead now. ZeusHash was another promising start with Litecoin cloud mining from a Scrypt ASIC manufacturer that has transitioned to a Bitcoin only and not very profitable at that cloud mining operation. Then there is Hashnest operated by BitMain that also had a fair share of issues and has been constantly changing what they are offering, making it harder for users.

We are not going to even mention various services that looked promising or not, but ended up being scams or services that were betting on the price of Bitcoin only going up or down for that matter and ended up disappearing because of that. So where are we currently cloud mining at and what is left as services that have been here long enough to be considered safer?

– Genesis Mining is one of the most serious entrants into the cloud mining world that we’ve been using for about 10 months already. The company is trying to be very open and transparent regarding its mining operations including hardware manufacturers partnerships to counter the mistrust caused by a lot of anonymous scams. Daily payouts, transparency, multiple ways to purchasing cloud mining hashrate.

– Bitcoin Cloud Services is a more anonymous cloud mining operation that we started using about the same time as Genesis Mining, though it is apparently a year old now and currently running an extended price promotion to celebrate their birthday. Have changed their initial offer, but are still here and pay out mined earnings on a daily basis, offer attractive pricing and anonymity is a plus for some people.

– ScryptCC left us with mixed feelings once we started using it back in February last year, looked promising and worked fine unless you had an issue and needed to deal with support. Well, they are still here and we are still mining with not that much hashrate, but the service is still paying out. There are some people complaining from issues with it apparently, so support could still be an issue, but unless you have to deal with it seems to be Ok. Still we would not advice to go with larger investment there.

The AMHash Mining Operation Robbed of Mining Hardware

3, Mar 2015

amhash-bitcoin-cloud-mining-services

It seems that another cloud mining operation is having trouble to keep running, this time because of mining hardware stolen by one of the partners. We are talking about the Chinese mining mega farm AMHash, a partnership between ASICMiner, RockMiner and Havelock Investments. You would expect that when ASIC manufacturers start their own cloud mining operation it should be reliable and secure and have no trouble, but apparently not if these are Chinese companies as it turns out. Throughout February some people started reporting that they are not getting their payments sent for the hashrate they have in AMHash. The apparent reason was due to the long New Year holidays in China, but it turns out that it was way more serious than that, but AMHash just recently at the last day of February explained the actual reason.

The Announcement of AMHash Dividends Suspending

Dear customers,

We are very sorry to inform you that we have to continue to delay AMHash’s dividends, as we haven’t received the payment from ASICMINER since 8th Feb, we are trying to communication with ASICMINER for this issue:

1. Dividends will be restarted in 24 hours as soon as ASICMINER sending us BTCs.
2. Dividends will be paid from 8th Feb and all missing dividends will be included if we get the payment.
3. Trading of AMHash1 on HAVELOCK will also be suspended until the dividends restart.
4. Any third-party platform collapse will be handled in the same way as hashie.co, AMHash will complete the hashrates transferring and subsequent dividends.

We are still in active communication with ASICMINER, please be patient,and we will update in time if we get any new information.

AMHash Team

And a bit later another post detailing the actual reason why the payments from ASICMINER have stopped appeared yesterday also posted on the Bitcointalk forum.

update

The 3.546PH AMHash’s hashrates have disappeared since 25th Dec 2014. We found this problem two days later, we asked friedcat, he said it was mining farm’s maintenance issues, hashrates would come back soon. But one week later,hashrates didn’t come back yet. When we asked FC again, we were told that all mining devices were robbed by the partner of the mining farm. And all hashrates were out of control.
After then, FC told us that hashrates from new mining farms will be deployed, but we didn’t know the amount at that time. Right now, we still don’t receive any update from those new hashrates.

AMHash Team

Things are definitely not looking good for AMHash and for their customers, but we still need to see how they will handle the situation as they previously had some trouble with other partners and they have managed to do things right. We are going to keep an eye on how the situation develops as we also do have some hashrate in AMHash and we have not yet received any dividends from mid February until now.


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