Bitmain launched HASHNEST in mid-2014 as a joint venture with Umisoo to provide a hardware-backed cloud mining service. Although they have a short history, I have personally dealt with Bitmain, Umisoo and HashNest, and service has been great so far – although I admit that there can be a bit of a language barrier at times. I’ll keep this post updated as I get more experience with HashNest.
HashNest is one of the most likely services to be backed by physical Bitcoin mining hardware, due to their connection with Bitmain. My only concern with HashNest is what will happen if Bitcoin falls to levels where mining revenue is less than maintenance fees. Will contracts automatically expire, or will they be reinstated as soon as mining becomes profitable once again? Time will tell, but I being associated with one of the largest mining hardware manufacturers helps me to trust HashNest a lot more than other cloud mining firms out there.
HashNest originally offered some decent pricing on cloud mining contracts when they first launched, but after the recent Bitcoin price drop, their pricing dropped as well. At the time of this review, pricing is 1.68802฿ for 2 TH/S. That works out to 0.000844 BTC/GHS, which gives them the absolute lowest pricing in the industry. Most recently (Feb 5th) they were sold out of miner to hash rate conversions, so I will update their rating as soon as new pricing is available.