Reduced Genesis mining prices

Genesis mining sent a special update they have increased their mining efficiency for Sha. As a result, they are updating our Sha prices!

The new prices are as follows:

SHA256
0.2 TH/s = $30
2.5 TH/s = $350
15 TH/s  = $1950

In addition, they have reduced their maintenance costs which means higher payouts for any new hashpower upgrade!
A lot of our customers are excited about Zcash. Its new approach to security and next level of anonymity makes it an exciting currency and everyone is happy that another cryptocurrency with such a high potential is hitting the market. As a result, Genesis Mining will soon be making Zcash available to our miners. They’ll let you know when it’s live!
Remember to use the coupon “6bXKwD”

DASH Cloud Mining Genesismining (X11)

Genesis mining is Bullish is DASH and is currently offering a few cloud mining packages. Over the past few weeks DASH has grown above $80 million USD.

DASH Facts

Dash Fact 1: It is very robust with a huge node count. While Bitcoin has about 5283, Dash has about 4053.

Dash Fact 2: It uses it’s own cool blockchain budgeting system to manage the project within the community.

Dash Fact 3: It has integration with ‘JAXX’ (Mobile iPhone/Android wallet), desktop wallets like Exodus, hardware wallets like Trezor, and debit cards.

Mine DASH with X11

DASH currency can be mined with X11 algorithm based miners. You can check out our X11 mining review here.

New Genesis mining X11 Prices:

Gemini 2.5 MH/s $20 ($8 per mh/s)
Ferox 60 MH/s $420 ($7 per mh/s)
Graviton 300 MH/s $1800 ($6 per mh/s)

To take advantage of our new pricing, click HERE.

Promotion code “6bXKwD” to get a 3% off discount coupon!!

Hashflare’s response to Halving

Dear users,

We would like to remind you that this weekend Bitcoin mining reward will bereduced by 50%. This process, namely halving, is a part of Bitcoin system script and occurs every 210 000 blocks. The last halving was 4 years ago and the block reward went down to 25 BTC from 50 BTC.

The halving will occur on Saturday, approximately at 20:30 (UTC+3). This means that the whole Bitcoin network will start getting a reduced mining reward. This will also be reflected in the payout you will receive on Monday.

However, our team has been getting ready for this event for a couple of months already. We are happy to announce that we are currently preparing and installingnew, more energy-efficient SHA-256 hardware.

We are putting a lot of effort from our side to keep BTC mining profitable. In the nearest future we will be able to reduce the cost of electricity, lowering the electricity fees for SHA-256 contacts in HashFlare as a result.

We work hard to make our service better and we hope that our efforts make your cooperation with us more profitable and enjoyable.

Sincerely,
HashFlare Team

Hashocean closes and is revealed to be a scam

Hashocean was a bitcoin cloud mining service that claimed to have 5 major data centers along with a team of mining experts to manage it. They even had a 24 customer service hotline to support to their 700,000 customers. All of this was revealed to be a scam. The Hashocean.com website went down without warning on the 25th of June. Hashocean’s Facebook, Twitter and other social media accounts have all been deleted. Mining payouts have stopped.

Current hashocean website

Current status of hashocean website

Hashocean has claims “hackers” took down the website and deleted their social media accounts. This definitely is a lie. Think of it this way, a cloud mining company’s assets are in physical machines that cannot be stolen via hacking. If they actually owned 5 data centers around the world, it would be impossible to not bring their physical machines online and resume payouts. It is without doubt that Hashocean is a scam and with a pyramid scheme structure.

To add insult to injury, thieves have opened up facebook and twitter accounts claiming to be HashOcean. These accounts claim that payouts are coming but further payment as “proof” of Hashocean account ownership. These are entirely false and no money will ever be returned. The following is an example of such a scam:

got my 25 btc back nice 😀 i sended 0.01 btc to 1LxJXguP2zxbejccq7CnwhbtgNugiqxz8a
this is an automatic replay :
Unfortunatelly HashOcean will close definivelly and all our mining system is for sale now.Our mining system and webpage got irreversibly damaged.

Refund:
We will refund you on bitcoin adress afferent. Please send exactly 0.01573913 BTC to 1LxJXguP2zxbejccq7CnwhbtgNugiqxz8a from your bitcoin adress selected to payout on your account for proof.

Please follow the steps and keep calm.

Thank you,
HashOcean Team

Hashocean never owned mining equipment

The key point to take home from this debacle is that scams like Hashocean never actually owned any mining hardware or any server farms. Several forum posts have pointed to the fact the have never provided evidence that their mining operation actually exists. If they actually owned services and hardware, it would be extremely easy to post the evidence for it.

This is a major lesson for all cloud mining investing: only invest in companies that actively provide evidence for their hardware and assets. 

Halvening to reduce Genesis Mining Profits by 75%

“The halvening”, is a event in the bitcoin creation process that will reduce the amount of bitcoins produced each day by exactly one half. This means all revenue from bitcoin mining will be halved. There are also strong implications for ROI (return on investment). Current calculations indicate there will be up to a 75% reduction in ROI.

The reason lies in the key word: is revenue. Mining bitcoins requires electricity, which has a fixed cost. So we spend the same amount of electricity to half as much.

 Genesis-Mining Halvening

(BTC per TH/s) Now Halvening
Daily Revenue 0.0024 0.001201
Mining Costs 0.0008 0.0008
Profit 0.001601 0.000401

As you can see from the calculations, the current profit of 0.0016 will drop to 0.0004!