Hashnest is a platform for cloud mining, where users can take part in the mining of bitcoins without having to worry about investment or maintenance of mining equipment and hardware. The guarantee that you get for uptime by BitMain, for the hardware they provide is 99.9%. As a user, you can select plans from 1 Gh/s, giving you the flexibility to pick a desirable amount for investment in cloud mining.

Hashnest began its journey in 2014, and ever since has been providing services around cloud mining to its user base. Hashnest is a child company of the hardware manufacturing giant, BitMain Technologies. They are one of the biggest players in developing mining rigs for Bitcoin, by making use of ASIC technology in their components. Their most popular series is the Antminer series, immensely used by Bitcoin miners from around the world. The company’s headquarter is based in the capital of China, Beijing, along with that their offices are in Hong Kong, Amsterdam, Shenzhen, Tel Aviv, Qingdao, and Chengdu.  

BitMain Technologies, the brains behind Hashnest, was set up in 2013 by a group of Chinese investors. Wu Jihan, a member of the founding team, is frequently seen on events around bitcoin, taking charge of the company and is always up for questions or a good debate on both offline and online platforms. Before stepping into the business of cryptocurrency, Wu Jian was working at an investment fund in China, as an investment manager. As you may have guessed by now, the mining equipment Hashnet use comes from their Antminer series, ranging between S3 and S9. If you want, there is also the option of purchasing an Antminer for your personal use.

On the website, you will find a nice collection of photos of their well-constructed mining farm, placed in the warehouse. A minimum of 8 to 10 miner racks are stacked with 6 levels, containing the miners. This does give an indication of the large scale at which they operate their business of cloud mining.  

Let’s take a look at the digital presence of Hashnest -

• Website - https://www.hashnest.com/

• Facebook page - https://www.facebook.com/hashnest

• Twitter handle - https://twitter.com/Hashnest_com

•  Email support - [email protected]

The coins you can mine at Hashnest include Bitcoin, Zcash, Dash, and Litecoin. They are also planning and supporting the mining of more cryptocurrencies in the coming days.

Here below is the address of Hashnest -

BitMain Technologies, Building 25, North Olympic Science & Technology Park,

Haidian District, Beijing, China 100029.

The mining platform of Hashnest offers the users an efficient and cheap way to get started with mining bitcoin and other cryptocurrencies, without worrying about purchasing the hardware or equipment. The hash powers purchased can be transferred and traded over a network, created by BitMain. It means that you may directly buy hashing power from either Hashnet or other customers who are willing to sell it, giving you the option to bargain as well. For tracking the activities of cloud mining, you can use the digital wallet created by Bitmain. At any given moment, from any part of the world, the wallet will be reachable to you through a smartphone. All you need to do is download the application from Google play store or Apple’s App Store.

By default, the miners of Hashnest get routed to AntPool, another member of the prestigious BitMain Corporation. As a user, you can also pick another pool, if interested in doing so.

The contract used by Hashnest is PACMiC or Payout Accelerate Cloud Mining Contract. As per Hashnest, PACMiC has a lot of benefits for the users. The most important ones include rolling payouts, depending upon the blocks that are found out and profits without having to pay the electricity fees.

PACMiC has been more recently developed to add to the list of cloud mining services by Hashnest. According to this, the maintenance fee gets waived off once the mining activity is completed, with Bitmain clearing up the bills for other costs, including electricity, related to mining. On a similar note, the revenue generated through mining comes in handy in paying back the contract. Till the time the principal amount gets paid back, mining coins will profit the buyers. Post that, the mining rigs’ revenue will go into the pocket of BitMain.  

The payout, once the mining gets completed, is done based on PPLNS, a method in which payments are done based on the recent N shares. An aspect of this payment method is that the total coins gathered from mining partially depends upon luck. Speaking in a general sense, I must say that the cryptocurrency earned using PPLNS is on the higher side, when looking at a long term period, in comparison to the other traditional payout method – PPS (Pay per Share).

Another offering of Hashnest to its users is pre-owned equipment or hardware for mining. The option to purchase them online is there. Since all the equipment comes straight from China, additional shipping costs will be applicable for offshore purchases, and this will be on top of the handling charge of 50 USD.

If a scene comes where the prices of bitcoin fall or mining difficulty drastically increase with the cost of maintenance accounting for 90% of revenue coming from mining, the contracts of Hashnest will shift to a redemption wait period, till the time profitability gets restored to mining. In such cases or periods, you should not be expecting any payouts from Hashnest.

The mining contracts at Hashnest do not come with a time limit. The hashing contracts reach and end only if there is redemption by the miner or post the completion of the redemption period.

The least hashing power you can for when entering into a contract with Hashnest is 1 Gh/s. And if you have to see the complete pricing schedule, you will have to register on their website to access that information. If you see their Contracts section, the hash power of 6 Th/s is priced at 1 BTC, with a payout option as PACMiC.

The contract gets activated once the payment is being made by the user. On the website, you can also find the nicknames of the users who bought hashing power the previous time, in accordance with PACMiC contracts. As a user, you will have to wait for the other users to sign the contract, by making their payment, before the revenue starts flowing in.

You can transact the hash power the following gigahash exchange – ANTS9. This comes as a rare opportunity to the users, who have the freedom to sell and buy hashing power for mining, without being subjected to a centralized organization. The fee taken by Hashnest is 0.15% of the transaction amount with every trade that it processes. This fee is payable by the ones who are selling hash power. As far as the buyers are concerned, the trade is free. If you are a new user, you may directly go for ANTS9 exchange to your hands-on mining power.  

Hashnest has a few features in the contract which might be tricky for beginners, but apart from that, the system is solid and robust. Through FAQs and help desk they do try to resolve the queries, and not to forget, the whole package of Hashnest comes along with the assurance and professionalism of Bitmain.