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RE: Bitcoin Mining Profitability Payouts & Review - Updated 29 April 2018
How has it made so much profit when the payouts are so low? I've just started a hashflare mining contract and it only cost me $450 for 10 TH/s. Even then at current prices and costs I will only double my money unless bitcoin continues to rise rapidly.
More details are on my post here: https://steemit.com/cryptocurrencies/@steddyman/my-hashflare-cloud-mining-experiment
Hashflare sucks my friend. Their electricity cost is $0.35/TH, where as Genesis's electricity cost is $0.28/TH. Another thing is, hashflaire's contract will expire after 1 year, which is way too risky in my opinion. And when I purchased the contract, it was boom time for bitcoin, so, it yielded me a good revenue. But in terms of bitcoin production, I'm still at 60%. That mean if I had bought bitcoin back in then I could be 40% profitable now.
The electricity costs may be higher with Hashflare but the price I paid for the contract is in a different league to your prices. Currently Genesis Mining charge $1690 for 10 TH/s of Bitcoin mining. I paid $450 for that hash rate from Hashflare.