Dear Hashnest Users,
Thank you so much for your patience. Due to force majeure ( China government issued a policy to shut down Bitcoin mining farms in June 2021 and all mining farms have been closed in China now), we have suspended mining. Despite our various efforts, we failed to find a suitable power source in China. Relocating mining rigs to overseas is full of risky and uncertainty, so we finally decided to suspend all mining contracts on our platform.
We will sell mining rigs gradually and buy back users' hashrates from our market. Since there is a large number of unsalable mining rigs following China's policy change, it is difficult to clear them all at one time. We will use our own funds to buy back hashrates from users and the redemption will be completed in batches.
The first batch of hashrates redemption are Z11, Z15, A10pro and some GPU cards. We will place orders in our market in a week. Users who hold the hashrates can sell in the corresponding market directly. The price of each hashrate will be displayed in the market.
K5 has exceeded 150% for 10 consecutive days, so we have terminated the K5 contracts. And since K5 mining rigs have been eliminated and obsolete, we will not buy back K5 hashrates.
The redemption of other hashrates will also be opened as soon as possible, and the specific time will be announced separately. Thank you for your patience, and thank you for your kind understanding and support.
All the best and take care.
29 July 2021