Hashflare Cloud Mining Review

(Part 2 in a 3 part series with reviews on Genesis-Mining.comHashflare.io, and Hashing24.com)

This is a review of Hashflare, a cloud mining company based in Tallinn, Estonia. If you would like to read my review of Genesis Mining click here.

Hashflare began in 2015 and was founded by Sergei Potapenko. They claim to have over 500,000 users. Hashflare is one of several entities under the parent company Hashcoins. The new digital banking and identity project called Polybius is part of Hashcoins.

According to the Hashcoins website their focus is “The development of cryptographic hardware, creation of blockchain technology-based solutions and provision of remote hardware access services.”


As far as the mining operation goes that would differentiate them from their competitors, they don’t provide a great deal of information. They have a few pictures on their mining operations on the website, but offer no videos. This might be an area of concern to consider.

As I am using their services I can tell you that I have had no issues and continue to receive my daily payouts. The payouts, by the way, are larger than what you get with Genesis Mining. The Hashflare referral program is also attractive as they are currently offering 10% to any new signups under your name. To give you an idea, Genesis has a tiered affiliate program that starts out at only 2.5% and requires at least $5,000 in referrals to be considered “gold” level and even that only pays a 4.5% bonus.


Hashflare allows you to split your hash power among different mining pools to attempt to make the largest profit. Under each of your mining contracts they have a nice feature in that it shows a revenue forecast box (see picture).

Because they are obviously fighting with Genesis Mining for market share, they are offering better rates. They also are quite active providing updates on social media. They even offer to let anyone stop by and visit their office. So I guess I’ll add that to the itinerary the next time I’m in Estonia.
The projected $3,259.29 payout is for my 1 year Ethereum mining contract at 50 MH/s. The contract cost me $1,090. If you’re doing the math, that means that I will net over $2,000 in 1 year. That puts the break even point at a quick 4 months. And because I am locked in, if the price of Ethereum (ETH) increases, then my profit would be even greater.
Again, I haven’t experienced any issues with them, but I recommend that you always do your homework before investing in anything crypto related.
If you decide that you would like to give it a shot follow this link Hashflare.io and for a 10% savings enter promo code BE07BAF.
(Update: In September 2017 Hashflare decided to end their open ended Bitcoin mining contracts. This was quite controversial to people like myself who bought back when open ended mining contracts were still available. With the increased cost and popularity involved, it is a mute point for people who are new to mining. Just know that most contracts are now only for a year at a time.)


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I have been married for over 15 years to my amazing wife from Venezuela who provides me with great support and laughs at my mediocre jokes. We have 2 wonderful children. One runs her own Youtube channel (brifilms2002) and the other is learning how to code video games. Although our little dog is still adjusting, we love our new beach life in Florida as that has always been our dream. Originally, I'm from Northeast Ohio and still follow my Browns, Cavs, Indians, and Buckeyes very closely. I enjoy investing in a variety of ways and am always looking to both teach and learn. Imagine if you would have been one of the first people to invest in Apple or Google when they were just a fraction of the cost that they are now? Well, that's how I see the world of cryptocurrencies and believe that it is only just beginning! Zechariah 4:10 Do not despise these small beginnings...

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