Crypto Mining Blog

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.