Why is hashflare down ? – Hashflare news & Hashflare Telegram group
Hashflare is currently down as the platform has shut down all bitcoin mining contracts. Hashflare had earlier stated that they would disable their mining hardware and would effectively terminate all SHA-256 based mining contracts.
The company said:
“BTC mining continues being unprofitable, in light of which we would like to inform you that on 18.07.2018 we were forced to start disabling SHA hardware and today, on 20.07.2018, stop the mining service of active SHA-256 contracts in accordance with clause 5.5 of our Terms of Service”
In an email sent to users and according to Hashflare news the company made known that due to the last few “difficult months” for cryptocurrency markets it has been forced to terminate active SHA-256 mining contracts. The platform explained thus:
“For over a month our users encountered a situation when the payouts were lower than the maintenance fees, resulting in zero accruals to the balance. As of 18.07.2018, the payouts were lower than maintenance for 28 consecutive days.”
However, with Hashflare recently raising the threshold for small withdrawals to 0.05 BTC and 0.1 ETH the announcement might not be surprising to those who have paid close attention to the rapidly rising total bitcoin hashrate.
Stay tuned while we source for a valuable and credible Hashflare Telegram group .