Hashing24

I invested about $400 in cloud mining. So far, I’m watching the results with interest and plan to increase my capacity. However, it seems that recouping my investment will be difficult, as Bitcoin is unstable and is likely declining. Therefore, if you decide to invest in cloud mining, it's better to do it with larger amounts. I liked this service because it offers a lifetime contract, unlike many others where you rent equipment. Yes, there is a maintenance fee that includes electricity, cooling, and the staff's work at the data center, but it’s quite small, and the income is significantly higher. Bitcoins are mined daily, and you can withdraw funds once you reach the minimum amount of 0.002 BTC (but my capacity doesn’t allow me to earn that amount in a day yet). The money is credited to the account with a slight delay — what was mined yesterday is credited only today. I received a payout once, and everything came quickly and in full.

Date of experience: May 24, 2024

Hashing 24 is an obvious hype project that is just waiting for the moment to take your money and cancel contracts. The service fee often turns out to be higher than the income from mining. You buy a contract and watch it incur losses, and to avoid losing it, you have to pay again. So first you pay for the power, and then to keep the contract from being terminated! Very creative, don’t you think? And also, on their calculator, it’s almost impossible to accurately calculate the real profitability; instead, it will likely show you actual losses.

Date of experience: December 13, 2024

If you want to lose money, choose hashing24. I bought contracts for almost 80 Th/s and after 3 months realized that I would lose 85% of my investment. At the beginning, the contract brought in BTC 0.00119363 per day, and now it's only BTC 0.00042681. If you calculate the power (80 Th/s) through any Bitcoin calculator taking into account all expenses, it comes out to 0.00269841 BTC per day.

Date of experience: August 5, 2024

Attention! Before purchasing a contract with Hashing24, I advise you to familiarize yourself with my negative experience. If you plan to buy long-term contracts costing between $50 and $200 for 18 months or more, be cautious. The situation might be different with larger contracts, but there is a risk of being deceived with long-term ones. My perpetual contract was closed in December 2020 when Bitcoin surged sharply. Fortunately, the accumulated funds remained in my account, but customer support responded vaguely, with links to articles.

If you buy a contract without a daily maintenance fee, keep in mind that the fee can eat up all your profits. For example, in the summer of 2021, they were accruing about 0.0000065 BTC per day at a power of 1 TH for $75.70. Over a year, you would get about 0.0025 BTC, which is roughly $107 at a rate of $45K per Bitcoin. But don’t forget about the withdrawal fee! It is currently 0.0005 BTC ($21), and it was even 0.001 BTC ($43). Additionally, the minimum withdrawal amount may increase (currently 0.0007 BTC, previously it was 0.001 BTC), and there is also a minimum deposit amount to your wallet, which can be 0.001 BTC. If you make a mistake, you will lose everything!

There is an option to withdraw to the Bithoven exchange, where the minimum withdrawal amounts and fees are low, but there is still a fee of 0.001 BTC. Withdrawals work, I’ve verified it, but for small long-term contracts, there is no profit. The risk of losing your investment is high if you don’t buy a new contract, and this process can repeat itself. Out of the $200 I invested in 2018, I managed to withdraw only $49 in 2021. Considering that my contract has 9 months left, it’s unlikely I will be able to withdraw any funds. Learn from others' mistakes!

Date of experience: February 3, 2025