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I want to start mining through one a cloud service and seems that hashflare.io is a good one. So when I go to the "Pricing" section of the website is say's that I can pay USD $1.20 per 10 GH/s.

How does that make any sense? I'll pay to have a rate, which is measured in seconds. But for how long am I going to keep that rate?

It says it is a Lifetime contract, does that mean I'll pay $1.20 and keep earning bitcoins forever? Seems a bit too generous to me.

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It says it is a Lifetime contract, does that mean I'll pay $1.20 and keep earning bitcoins forever? Seems a bit too generous to me.

It is too generous. Read the fine print.

Lifetime contract*
* as far as mining remains profitable
Maintenance fee: 0.01 $ / 1 MH/s / 24h

i.e. you pay a fee for the electricity and colocation, and if that fee exceeds the revenue of mining, the contract is over.

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  • I suppose they will deduct that amount from the mining revenue? This is all new to me so I guess I could put say $12 to buy 100 GH/s and just see what happens? I just want to be sure there will be no loss aside from that initial money I will be putting down.
    – RightMistake
    Commented Jul 12, 2017 at 17:26
  • @RodrigoMonte I assume so, but you can ask them if you're unsure.
    – Nick ODell
    Commented Jul 12, 2017 at 17:33
  • That maintenance fee seems absurdly high, if it's quoted correctly (and if we are talking about SHA256D). The expected revenue from mining with 1 MH/s for 24h is about $0.000001.
    – Nate Eldredge
    Commented Aug 11, 2017 at 18:07
  • Are people still making money mining with cloud services? If it was profitable wouldn't they just run it themselves instead of sitting idle waiting for someone else to pay them to make money???
    – bkunzi01
    Commented Aug 11, 2017 at 18:19

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