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Hashflare canceled Mining Contracts

July 23, 2018 | By | Reply More

Hashflare canceled Mining Contracts because of the obvious reasons we will talk about in this article. Hashflare which is widely known for providing the services for mining has announced about the termination of all operating Bitcoin mining contracts under the pretense of lack of profits in the company. In some time, the venture discovered dismantling steps in terms of SHA hardware that was implemented to mine cryptocurrency.  There were rumors on this ground worldwide that it is a common scam example, taking into accounts such a month period of silence. But the Ethereum Contracts are still available to try.

Hashflare canceled Mining Contracts having millions of users

This problematic situation occurred approximately a month ago (June 21), when suddenly Hashflare showed a note on their website concerning some maintenance matters it was going to have the next day.

Hashflare canceled Mining Contracts for users

Even so, they did not try to present any changes and measures on that for a month. It is appeared just 2 days ago that the company switched off their equipment for mining. Besides, the company provide the reason they decided to finish with all activities, and it is the following:

Unprofitable state with BTC mining, that is why they were forced to dismantle their SHA hardware on July 18, 2018 and in two days more they actually stop to offer any mining services in the framework of SHA-256 contracts.

We all know that HashFlare was selling its special hash rates for mining and had too many users all over the world. The client gave them great money and the Company used them to carry out the important configurations, maintenance and reliable surrounding. In exchange, the users are payed a certain amount that is specified in the contract. What is very interesting that is there is no any team page in their official website. It goes that the Company have been registered in London.

According to the registration document, the company was founded in 2015, but still, it is impossible to find any of the directors’ names there. All the lines were filled by some unknown person, Naomie Pearl. If to look into the latest April document, you will see that the company’s name was first of all HashCoin and now it is Hashflare.

Now it is clear that Sergei Potapenko is its CEO who founded Polybius more than one year ago. If to believe the Bitcoin Wiki, everyone will see that Potapenko founded HashFlare in 2013. The website resembles to that of Hashcoin, and known for being a producer of Asics.

Hashflare had indicated that all the facilities for mining are located in Estonia. They use two languages English and Russian very actively. Moreover, Hashflare had officially shared with their visitors in the website about their huge number of users – more than a million participants. It makes the situation even more interesting as it goes about millions of dollars. The Company also indicated that the amount offered for service fees is higher than that obtained from mining contract payments. Almost for a month the payout appeared to be lower than the costs for maintenance.

All mentioned above reasons caused the following unpleasant situation and that is why Hashflare canceled mining contracts. Hashflare has stated as well that users should correspond with their new instructions. More detailed clarification is provided in the copy below:

Hashflare canceled Mining Contracts

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