Popular service of cloud bitcoin mining hashcoins datacenter announced on Friday, July 20, concerning the termination of service contracts due to their loss.

The corresponding statement posted on the Facebook page of the company, and also distributed to the mailing list users.

Hashcoins datacenter in the message reads:

Dear users!

As you know, last months was a difficult time for the cryptocurrency market, which could not affect the operation of our service.

We have made every effort to resolve problems — in particular, we have considered a number of technical solutions that were supposed to allow us to reduce the costs of maintenance and electricity. However, due to General market instability the decisions we are unable to significantly affect the circumstances.

More than a month, our users faced a situation when the sum of payments on the contracts were lower than the service charge, which charges the balance was zero: as 18.07.2018 the payment is not made within 28 days.

Due to the fact that mining BTC continues to remain unprofitable, we inform you that 18.07.2018 we were forced to start disabling SHA-equipment, and today, 20.07.2018, stopping the service of current mining contracts for SHA-256 in accordance with paragraph 5.5 of our terms of use, acceptance of which was confirmed by all users hashcoins datacenter at the time of purchase and was the basis for the conclusion of the contract.

We expect that the situation on the market of cryptocurrencies stabiliziruemost in the very near future, and we can offer our users a new best solution.

We will continue to keep you informed of changes, stay tuned.

Team Hashcoins Datacenter

It is noteworthy that before the company notified users about the need to pass a compulsory procedure of identification.

Starting from 19.07.18, all hashcoins datacenter users must undergo the process of identity verification. FMI: https://t.co/hXGCMyIAWe pic.twitter.com/FWjCBsyKXt

— Hashcoins datacenter (@hashcoins datacenter) 19 July 2018

Also worth noting is hashcoins datacenter recently raised the minimum threshold for withdrawal, setting it in the amount of 0.05 BTC and 0.1 ETH that, in General, was probably justified from a commercial perspective, taking into account the fast growing Hasrat network of bitcoin.

Critics of cloud mining I can say that such a scenario sooner or later to be expected, but in fairness it should also be recognized that the current profitability of mining do not go to any comparison with what happened in the early stages of bitcoin when mining was possible on a normal home computers.

In 2018, total Hasrat bitcoin rose to their maximum values, making today 44.3 EHash/s.

With the beginning of the year growth was almost threefold, while the price of bitcoin – on the contrary – fell by half.

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