Dear Diary: Hashnest Will Stop Mining Bitcoin Tomorrow 12:00 PM Beijing Time
Hashnest is an online cloudmining site for Bitcoin using their AntS9 mining rigs and they also mine Litecoin with their AntL3 mining rigs and they are owned by Bitmain Tech the maker of the said mining rigs.
They announced yesterday that they will going to close the market for trading in their Hashnest site so no more mining will be done as the cost of maintenance is more than 90 percent already.
Here is what their website had said:
As the electricity fee is keeping greater than 90% of mining revenues, we decide to close s9 trade market tomorrow noon 12:00. (2018/8/24 12:00 pm beijing time).
The market will not be reopened until the ratio of electricity fees to PPS payout is lower than 90% for continuous 10 days.
Please trade hashrates accordingly before the market is closed. HashNest will not compensate for any delayed trade.
During the waiting period, if electricity fees are greater than revenues for a sustained period of ten continuous days, we will announce the hardware redemption begin.
The cost of hashing power for S9 fell to 15 satoshis and now is currently trading at 77 satoshis and will still fall as the deadline of trading and mining will stop at exactly 12:00 PM Beijing time. So if you plan to mine at Hashnest you can get the option to mine Litecoin instead as the maintenance fees is still hovering around 80 percent.
Seems like bitcoin mining is no longer profitable at the current BTC price. I mine with hashing24 and since bitcoin dipped the maintenance fee has always been deducted from my balance. I think BTC has to go to 7.5K for mining to be profitable :)
Yes I sold my hash power and bought again at 16 Satoshis. From 2,000 THS I will be having 12,000 when it executes. I am now wishing for BTC price to rise.
That is so cool,hopefully BTC price will bounce back soon - fingers crossed :)
Muy mala noticia @cryptopie que vaya a cerrar sus operaciones en el mercado de las criptomonedas "Hashnest"