HashFlare, the cloud mining company based in Scotland, has announced via email to its registered users that they are slashing prices of its bitcoin mining contracts to $0.60 per 10 GH/s, from its initial price of $1,2. The reason for this pricing policy is that they have secured some quantities of mining rigs at a low price, as they state in the mail shown below.
This is great news for those wanting to invest in bitcoin mining but not wanting to maintain the hardware themselves, or simply for the mining illiterates. The actual price is much more interesting than the latest one: by reducing prices 50%, the probable time to return the initial investment is much less. But, with the predictions for the second quarter of the year of bitcoin prices going up, for many, this move makes no sense at all. But it has it.
HashFlare is the cloud mining arm of a hardware miner-manufacturer called HashCoins. Based in Estonia, they only make industrial mining equipment since 2015, focusing on the B2B part of the market. So, HashFlare announcement of acquiring a stash of equipment at low prices could mean that HashCoins is clearing its already old miner inventory, and they could be preparing for the launch of new models focused on its segment of the market.
Along with the announcement, they also tease the launch of a new data center in Iceland with a micro-documentary on Youtube.
It is said that the cloud mining computing center will use renewables as its main power source. They state:
Today we are pleased to present you with a trailer for a documentary about the construction of new HashCoins computing centers in Iceland, which will very soon unveil the mystery behind the work of one of our main providers of computing power”
Cloud mining contract sales have fallen since its peak in last year’s December. What do you think about it? Is Cloud Mining still a thing in the market today? Or are these movements indicative of desperation of a business on a dying market? Only time will tell.