Hashcoins datacenter closes contracts for mining bitcoin in connection with the lack of profit

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Hashcoins datacenter closes contracts for mining bitcoin in connection with the lack of profit

Hashcoins datacenter, one of the largest cloud mining, abruptly closes contracts for Bitcoin mining. In an official statement hashcoins datacenter says that they will disable its hardware inventory, and then will actually cease all contracts for production based on SHA-256.

The company said:

“BTC mining continues to be disadvantageous, in this connection, we would like to inform you that on 18 July 2018, we were forced to begin disabling equipment SHA, and today, 20 July 2018, to stop mining SHA-256 in accordance with paragraph 5.5 of our Terms of service.”

They mentioned that more than a month profit from mining was lower than the service charge, with the result that it was not compensation to users who purchased their contracts. Despite the fact that they stated that they tried various technical solutions that bear market and the instability of the surrounding ecosystem, were reasons for the lack of profit for clients.

In the Terms of service States that “if mining remains unprofitable for 21 consecutive days, service will be terminated”

Hashcoins datacenter didn’t mention what they will do in respect of funds that were present in the user account to cancel their contracts, leading to a large number of perturbations and the suspicion that all the tests turned out to be a fraud. Especially considering that they continued to sell the contracts even after 21 days of losses.

Image from Fotolia

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