Please note this is NOT a promotion of cloud mining. In fact the opposite. Some time back I wanted to compare an S9 payouts to the equivalent hash rate on Hashflare since sometimes information shared on the internet is not always accurate. Anyway, I was fortunate to stop there as it was quickly apparent cloud mining companies do not have your interests at heart until theirs are covered, some extra profit for them is covered, then ok a little for you.
Even more ludicrous though is Hashflare's recent stance given the difficulty spike in Bitcoin makes Hashflare mining unprofitable. So of course they raise the minimum payout to 0.03 and the result is you can't withdraw. When difficulty hit the fan my balance was around 0.025 (of course it was) so I wrote them a nice letter asking them to reduce the minimum payout, so I can withdraw. I was not angry, I am aware of the TOS, I purchased the hash rate knowing I might not make money. Their response was pretty legalized. "Suspended?" Um... ok guys can I just withdraw and move forward? I don't really care.
Greetings,
With the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same. This means that your balance will neither decrease nor increase. Also, due to the fact that contract payouts are lower than maintenance fees, forecast revenue shows zeros.
According to our Terms of Service, the mining process continues while said mining is profitable. This means the Mining process will stop if the Maintenance and Electricity Fees become larger than the Payout. If mining remains unprofitable for 21 consecutive days the Service is permanently terminated (Hashrate type specific). During the consecutive 21 day period, Payouts and Fees will also be temporarily stopped. If during the suspension period, the Contract-related mining factors (such as the exchange rate and mining difficulty) that are outside of HashFlare's control will change favorably, making mining profitable again, the Service will be unsuspended and contracts reactivated.
For the time being, mining has been suspended, but the contracts remain active. In light of this, manual withdrawal requests (if your balance does not meet the minimum withdrawal amount) cannot be fulfilled. A manual withdrawal when a user's balance is lower than the minimum withdrawal amount can only be performed if the contracts have already expired.
Also, according to our Terms of Service which you have agreed to when registering within our system, all hashrate purchases are final and non-refundable. It is not possible to cancel a contract and request a refund for the remainder of the time that the contract would have still been active for.
Unfortunately, we cannot influence the global factors that form profitability, neither can we take responsibility for it. The main factor that influences mining profitability is mining difficulty, and you can find the publicly available growth chart here and here. Cryptocurrency mining, trading, handling and etc. are generally highly volatile and unpredictable.
All risks are stated in our Terms of Service.
We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible.
Thank you for your patience and for staying with us!
Best Regards, Kirill HashFlare.io Support Team
Submitted June 29, 2018 at 11:07PM by trnbays http://bit.ly/2KrdtQT
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