Zeushash, the cloud mining service operated by Chinese hardware manufacturer Zeusminer, negotiated new terms with suppliers that save the operation from shutdown. Bitcoin's price collapse reduced daily GHS payouts below maintenance fees. The company's contracts require automatic service freezes after 10 consecutive days of such shortfalls.
Zeushash Announce New Cloud Mining Contracts
Zeushash, the cloud mining service operated by Chinese hardware manufacturer Zeusminer, negotiated new terms with suppliers that save the operation from shutdown. Bitcoin's price collapse reduced dail
Key Points
- Zeushash, the cloud mining service operated by Chinese hardware manufacturer Zeusminer, negotiated new terms with suppliers that save the operation from shutdown.
- Bitcoin's price collapse reduced dail
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The company stopped accepting new orders while negotiating with equipment manufacturers and electricity suppliers. Discussions centered on cheaper power and newer mining equipment. Both negotiations succeeded. Zeushash will launch new contracts within a week.
The company announced: "As the profits of our cloud mining contract keeps shrinking with the plunging Bitcoin price, we've been doubling our efforts to strike the final deal with our partners for a new cloud mining contract. And we are glad to tell all of you it will be available within a week!!"
Customers who already held Zeushash contracts will receive discounts when purchasing the new service. The new contracts will operate on newer mining equipment with lower electricity and maintenance fees.
Industry analysts spent this week predicting the end of cloud mining. Zeushash's successful renegotiation stands as rare positive news for a sector facing significant headwinds.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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