Hashnest's newest PACMiC Cloud Mining Contract
Hashnest website has been offline for scheduled maintenance and site upgrade between March 4 and March 5, 2015. This upgrade has significantly improved upon the Hashnest family of products. The new site boasts more features and an improved user experience. Users are able to access more powerful hashrate management tools and view more detailed and transparent statistics about their owned GH/s and payout information.
In order to continue being at the forefront of innovation in the cloud mining industry, Hashnest has launched its newest product from Hashnest, the Payout Accelerated Cloud Mining Contract, or PACMiC. PACMiC aims to lower the level of risk-exposure for the cloud mining user. PACMiCs do not have electricity or maintenance costs subtracted. In addition, Bitmain will pay 0.7 satoshis per second in profit for each 1 BTC contract owned. This works out to an estimated approximately 22% in annualized return of investment.
About PACMiCsEach PACMiC represents one terahash of mining power, and is sold for 1 BTC. The contract goes into effect immediately upon completion of payment. Once the contract is in effect, users will immediately begin receiving mining revenues equivalent to owning 1TH/s of mining power; payouts made will be according to AntPool’s PPLNS method. Payment of electricity fees and machine maintenance costs will be assumed by Bitmain.
Each time a PPLNS payout will be prior to pay for the profit per the rate of 0.7 satoshis per BTC per second, the remaining will be paid back to the principal.
The contract expires automatically upon the repayment of the original 1BTC purchase price. Hashnest director Rob Zhang points out that with the payment of 0.7 satoshis per 1 BTC of capital remaining to be paid back, users can earn approximately 22% in annualized return of investment.
With the PACMiC, 100% of mined coins are given back to the contract owner, allowing users to earn their starting capital back quicker than traditional cloud mining products. Traditional cloud mining products will use between 40% and 90% of the mining revenue for the payment of electricity and maintenance costs, slowing the rate at which capital is earned back and leaving the user with net revenue of between 10 and 60 percent of the coins mined by their GH/s.
Additionally, a 1BTC PACMiC contract represents 1 terahash of mining power, making the PACMiC cheaper than traditional cloud mining contracts. Traditional cloud mining contracts generally prices one terahash of mining power between 1.5 and 2 BTC.
If a user were to buy 1000 BTC of PACMiCs, they would receive 1 petahash of mining power. At present bitcoin network difficulty, on the first day the user would receive approximately 11 BTC in mining revenues, which count towards paying back the 1000 BTC in capital, and an additional 0.604 BTC of profit. On the second day, assuming same difficulty and pool luck, the user will again receive the same amount, ~11 BTC, in mining revenue, but this time the profit paid will be slightly less than on day one, while the amount paid back to the principal will be greater than on day one.
With PACMiC, users no longer need to worry about high electricity fees or soaring difficulty. Mining can become a low-stress, low-risk activity.
The introduction of the PACMiC from Hashnest contributes to the diversification of the bitcoin mining industry. Until now, there were only two ways to experience bitcoin mining: with physical hardware, or with traditional cloud mining contracts. The PACMiC introduces a third way.
Mining with actual hardware means holding fixed assets. During the life of the hardware, one is free to use them according to their own wishes (e.g., mining at a loss but because one wants to support the Bitcoin network). Mining with actual hardware also means one is responsible for electricity bills and requires manpower to deploy and maintain the machines.
With traditional cloud mining platforms, like Hashnest, a user merely needs to purchase a contract to expose himself to mining revenues. Users also save on shipping fees, purchasing PSUs, and the physical effort involved with deploying machines. In exchange for these conveniences, users must pay additional service fees, as well as accept that their contracts will be terminated due to difficulty increase or falling bitcoin price. Furthermore, the contracts will never be reactivated.
PACMiC’s unique selling point is that priority is placed on ensuring users earn back their initial principal, while remaining as simple as traditional cloud mining offerings. The reasons that earning back capital can be accelerated are firstly that the hashrate is cheaper than with traditional cloud mining contracts, and secondly that there is no maintenance fee involved; these reasons in addition to the additional profit payouts made. PACMiC is most suited for mining hobbyists looking primarily for stability and a predictable income stream from their cloud mining. If a user continually rolls over revenues into new contracts, they can estimate earning approximately 22% annualized ROI on their contract purchase. However, PACMiC holders may only enjoy mining benefits during the time that their contract is active; upon contract termination the hashing power reverts to Bitmain’s ownership.
Users may use the short URL
hash.vc to access the Hashnest platform.
