Published on July 21st, 2018 | by bitcoin0
HashFlare, a Cloud Mining Platform Disables Equipment on SHA-256 Contracts and stops services.
Cloud cryptocurrency mining service HashFlare announced July 20, that it is stopping mining services and shutting down hardware on current SHA-256 contracts due to difficulty generating revenue.
HashFlare is a cloud cryptocurrency mining platform founded in 2013.
Cloud mining is a system where a user purchases a portion of the mining power of hardware hosted and owned by a cloud mining service provider.
The service provider configures the hardware, maintains uptime and selects the most efficient and reliable pools.
The decision to discontinue mining maintenance is reportedly the result of difficulties for the company to turn a profit amid market fluctuations.