Hashing24: New 1-year and 30-month mining plans: Analysis
Updated: Apr 8, 2021
Yesterday, February 18th, Hashing24 announced new 1-year and 30-month contracts in addition to existing offerings and heavily revised prices. Let's see if they have become profitable for investors.
New 12-month contracts
Below I present calculations of future profit based on four scenarios for changing the difficulty of the Bitcoin mining network.
So, as we can see, contracts will only be profitable in a scenario of unchanging network difficulty. And in a scenario where we will have 2% growth for each period of difficulty, they will be barely profitable. In other scenarios, it is better to just buy bitcoin on the exchange at the current price.
Conclusion: I would not buy such contracts.
New 30-month contracts
The shorter the term of the mining contract, the better, in my opinion.
I would never buy a 30 month contract, because I don't know what will happen in a year.
But let's still look at the calculations:
The result is even worse - only in a situation of constant difficulty will we get at least some profit.
Other Hashing24 mining plans: 18 and 24 month
There is nothing to say - you can see everything for yourself.
Even with revised prices and new 12 month mining contracts,, the Hashing24 cloud mining service remains unprofitable. They sell mining contracts in such a way that they remain profitable as the network becomes more complex.
That is, they do not even need to mine themselves - they can simply buy bitcoin with your money and keep it, but during the contract, your payout will be less than the value for which you bought the contract.
Cloud Mining Info do not recommend this mining plans for purchase