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Frequently Asked Questions

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Cloud (or remote) mining – is the process of using hardware power to mine cryptocurrency (such as Bitcoin or Litecoin) remotely. This mining model came to existence due to the fact that the increasing difficulty of mining has made it unprofitable for mining enthusiasts to mine Bitcoins at home.

Cloud mining gives people a unique opportunity to begin mining cryptocurrency without the need for a large initial investment in hardware or technical knowledge. Despite the simplicity of the cloud mining model, it is worth elaborating on a few details, specifically it’s important to highlight that remote mining comes in two forms: hosted or cloud based mining.

Miner is a highly efficient piece of mining equipment specially designed for cryptocurrency mining. Our datacenters house hundreds of miners.

Miners are connected to pools. There are many pools so HashFlare allows you to connect to one you choose. This allows you to find the most profitable combination.

Next, all mined cryptocurrency is distributed among all customers of HashFlare depending on their share of hashrate in the whole system.

You are able to mine Bitcoin and various altcoins directly via our mining allocation page. The availability of cryptocurrencies you can mine depends on the contract you have chosen.

You must allocate your hashpower in order to determine the cryptocurrency received for your mining output. If no allocation has been made, the mining output will default to the following for the given blockchain algorithm:

  • SHA256 contract – Bitcoin
  • X11 contract – Dash
  • Ethash contract – Ethereum
  • CryptoNight contract – Monero/Monero Classic
  • Scrypt – Litecoin
  • Equihash – Zcash

Bitcoin and altcoin mining depends highly on the prices and network difficulties of the Cryptocurrencies that you are mining, which cannot be predicted.  Therefore, we recommend all our clients to do their own research and do their own performance calculation. For example, you might want to have a look at coinwarz.com. Remember that some of our products have a daily maintenance fee which must be deducted from the daily earnings.

Our office headquarters is based in Tustin, California. For security reasons, we do not disclose the exact location of our mining farms. As of April 2016, we are operating several mining farms that are located in Europe, America and Asia. Electricity cost and availability of cooling are important, but not the only criteria.

The maintenance fee covers all costs related to mining including:

  • electricity cost
  • cooling
  • maintenance work
  • hosting services

It currently applies to SHA256 contracts, and it is calculated per GH/s and automatically deducted on a daily basis. You will find the current maintenance fee details in the contract.

Please note that our other contracts have no maintenance fee.

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