Genesis Mining Cloud Mining Review

Genesis Mining History

HashCoins who offered hosting for mining contracts on last quarter of 2015 had officially launched also their cloud mining service called HashFlare last 23rd of April 2015. They offered both altcoins and Bitcoin cloud mining services.

HashFlare used a non-stock version of Apollo miner for their Bitcoin mining with SHA-256. HashFlare uses their Ares miner for mining with Scrypt.

All hardware has been provided by the parent company with data center of 2 Megawatt. Sergei Potapenko was the founder of HashCoins and it was located in Talin, Estonia on the year 2013.

Looking at the data information, HashFlare is on top with 10K customers as of June 30, 2015 and counting who uses their cloud mining services that generates hash rate of over 1 PH/S.

Trust Rating

One of the newest company in cloud mining services is HashFlare and they have both Scrypt and SHA-256 mining services offered. Considering that they are that new on this industry, they don't have this long list of payouts also of records that you can track but hopefully in few months time there could be a long list of it and for me it is not an issue.

They are revealing their company's physical address as well as the list of the members of their team with photos in it on their websites which is a plus factor for assurance. You can also avail one of their feature to switch mining pool, though there is no evidence that a contract is actually mining on pointed pool on some cloud mining companies.

Even if there are photos of their members and shared photos of Scrypt mining operation and their data center up to this date but they don't have any shared photos of their operation in Bitcoin mining. One of their representative told everyone that Ares racks looked better than that of Apollo's racks but for my mind they can just request for their technical guys to shoot photos from the miners, doesn't matter how it looks like.

1 PH/S is equal to over Nine hundred Apollo V3s, that implies that they should be having ninety racks of ten. When the time came that I have concrete proof on their mining capacity I will change my trust rating to higher value. So please check on the review and score overall.

Price Rating

HashFlare is one of the most expensive offers in terms of mining contracts with approximately 0.00178 BTC/GHS and its the price upon writing this review. Based on my experience, there is a company of cloud mining service that is only 1% higher than the price rate of HashFlare which made them second so far. In terms of rounding it off, HashFlare ties with the most expensive contracts in the industry of cloud mining services.

HashFlare offers discounts considering of their high cost contracts. One example on that on was during summer of 2015 with a 10% discount for purchase of 100GH/S or higher and another 20 percent off when purchase of 5TH/S or higher. So when it is successfully bought, they can enjoy lowered price to their contracts. HashFlare also has a very low price fee for maintenance and that makes them an affordable cloud mining contracts.

Maintenance Fee Rating

HashFlare.io have the lowest maintenance fee to offer even if they are second in the most expensive cloud mining contract, of course not counting the no-fee cloud mining companies maintenance fee. A remarkable rate of USD 0.03/GH/month might be because they are seated in Estonia where electricity is very cheap and is next big comfort than no-fee.

This drop of maintenance fee will drop more considering that they will be using Uranus miners in the future where they continue to use Apollo technology for the meantime, assuming also that they materialize in the future. Knowing that they have a low maintenance fee, it will be a huge impact on the mining earnings and the return of investments as well.

Dashboard Rating

HashFlare has an astonishing mining interface and you can check it when you already have an account after sign up. In terms of usability, for me I would rank them as 1/3 of the other cloud mining companies even if the services they offered is not the same with the other top mining companies. When you try to withdraw your payments it will be very smooth also and a two factor authentication of email will be sent to you.

What makes the dashboard cool is the graphical representation of your earnings overtime, balances, mining pool allocation and as well as revenue per day per terahash. The reports review is incredibly laid out for you. I personally appreciate the mining pool allocation feature of HashFlare, like most companies of cloud mining offers selectable mining pool and will be forcing you in choosing a singe pool.

Payment Reliability Rating

After the deduction of maintenance fees as expected, they gave me the exact revenue and HashFlare on my account made payments on time. It only takes 15 minutes to appear on my Bitcoin wallet funds when I tried withdrawing in from HashFlare and that means they have a very fast service that will cater your transaction into the block chain right away upon requesting for withdrawal.

HashFlare Referral

Hash Flare also has been on top with the highest referral bonus percentage on overall cloud mining companies where they offered 10% referral bonus. Even if they do not offer any sign up bonus when you sign up into their website, they do offer some special offers as mention above. HashFlare overall is a very solid in giving special bonuses and the generosity is on top with the other cloud mining companies.

Conclusion

HashFlare might not be the best cloud mining company to trust with and their cost may not be fine compare to others, they do have a lower maintenance cost and a very solid bonus on referrals which edges them from others.

Feel Free to use my referral link to sign up for HashFlare’s Cloud Mining Service!

Written on 13 Mar 2017.