A major cloud mining service terminates Bitcoin contracts, stripping users of yearly fees.
Cloud Mining News
Cloud mining allows the use of computing power for data processing centers and mining cryptocurrency without the need of buying special equipment, software, spending on electricity and so on. The main idea of cloud mining for Bitcoin, — which is also called cloud hashing — is that the user buys some computer power of the machinery set up in such data centers after agreeing on a cloud mining contract and do mining via cloud. Cryptocurrency cloud mining has many advantages for those who are not so technically skilled and are not ready to compile the equipment and set the special software. Besides that, this is a great opportunity for people living in countries with a too high cost for electricity to set up their own mining farms.
- Analysis
- News
Cryptocurrency cloud mining service HashFlare has stopped mining services on current SHA-256 contracts due to difficulties with generating profits.
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Pavel Veselik from Maximus Coin on the Bitcoin cloud mining industry in the Czech Republic, its challenges and opportunities.
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by Julia Daimio
Trust is a major issue in the Bitcoin cloud mining industry. Cointelegraph looks into this issue to find out how to treat cloud mining right.
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