Cloud mining services profitability UPDATE #4
Today Hashflare announced a significant change in their mining contract: All previously sold lifetime contacts will be terminated in one year. From 1st of September new rules will enter into force and price for new SHA-256 (Bitcoin) hashrate contract will increase in 2x times.
It is changing everything! So, if you thought you had bought a contract from HF that will bring profit for years, you was wrong.
Lets compare mining contracts from Hashflare (HF), Genesis-Mining (GM) and Hashing24 (H24) with new prices. Please also see my previous report.
HF SHA-256 contract profit calculation before Sept. 1:
BTC-HF: # return in 4.1 monthes
investing: 100 # USD for 364 days
income: 404.4 # USD
maintenance: 106.2 # USD
profit: 198.2 # USD (198.2 %)
Almost 200% annual profit is to much to share with clients.
New price calculation:
Coins: # 2017-08-31
BTC: 0.00000283 # coins per day for 10GH/s
LTC: 0.00078961 # per 1 MH/s
ETH: 0.0000202464 # per 100 KH/s
DASH: 0.00000197 # per 1 MH/s
ZEC: 0.00000163 # per 0.1 H/s
invest fee earn ratio revenue maintenance \
BTC-GM 100 0.186667 0.886126 0.699459 323.436 68.1333
BTC-HF 100 0.145833 0.553829 0.407995 202.147 53.2292
LTC-GM 100 0 0.391965 0.391965 143.067 0
LTC-HF 100 0.0869565 0.477174 0.390218 174.169 31.7391
ETH-HF 100 0 0.349879 0.349879 127.706 0
BTC-H24 100 0.103286 0.416022 0.312735 151.848 37.6995
ETH-GM 100 0 0.257436 0.257436 93.9642 0
ZEC-GM 100 0 0.0600859 0.0600859 21.9314 0
ZEC-HF 100 0 0.0222018 0.0222018 8.10364 0
DASH-HF 100 0 0.0125466 0.0125466 4.5795 0
DASH-GM 100 0 0.0121284 0.0121284 4.42685 0
profit return percent
BTC-GM 155.303 4.76667 155.303
BTC-HF 48.9183 8.2 48.9183
LTC-GM 43.067 8.53333 43.067
LTC-HF 42.4295 8.56667 42.4295
ETH-HF 27.7059 9.53333 27.7059
BTC-H24 14.1483 10.6667 14.1483
ETH-GM -6.0358 NaN -6.0358
ZEC-GM -78.0686 NaN -78.0686
ZEC-HF -91.8964 NaN -91.8964
DASH-HF -95.4205 NaN -95.4205
DASH-GM -95.5731 NaN -95.5731
Annual profit for "BTC-HF" contract dropped from 200% to approx. 50%. Since BTC and LTC contracts from GM are out of stock, the "BTC-HF" still attractive, but HF reputation ruined. Probably the profit is much dearly than brand.
I will looking for future services with uninterrupted smart contracts and decentralized court of justice.
Thanks for the update
Thanks for voting
These guys will lose a lot of clients... Trust me.
I am one of them who will stop manual investing each month and reinvesting my BTC mining to get more hashpower. Has anybody tried pool.bitcoin.com?
It is better to mine for ourself with such profit.
@stvnz, I have a rig in my home, and trust me, it's better you but some GPU instead of mining with them.
What currency are you mining? BTC/LTC is not a case for GPU, ETH difficulty have rapidly increased, other is not so profitable.
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STOPI'd be interested in any updates as definitely need this mining rev.
Update #5
I'll do. Thanks
Great post overall but one small mistake: They are not changing the duration for previously sold contracts, only for me contracts. Your old contracts are still lifetime-contracts.
No.
Oh, okay. That is not what they have written in their statement. But I am certain you are right, I am too lazy to double check this now xD
Of course, it easy to check.