HashFlare Review - I'm Making $0.50 Per day from Bitcoin cloud mining and I want more

Updated: 27 December, 2017 seen 3,420

Hashflare is the latest addition to my investment portfolio and currently the smallest one, also I feel really surprised seeing its great performance after just first 5 days of operations. It is something I didn't expect.

I decided to open a test account on Hashflare on December 20, 2017, and invested $50.60 to purchase hashing power of 0.23 TH/s, see: I Just invested $50.60 in Hashflare.io Cloud Mining

HashFlare.io (Affiliate link here - if you will click, register and decide to invest, I might earn 10% commission from that) - Estonia based cloud mining company

Please note - I'm not a financial advisor, services mentioned in this article use at your own risk and remember your capital is at risk, you could lose some or all of your money.

HashFlare balance

HashFlare balance

I've started already upgrading my initial 0.23 Hashrate to 0.26 TH/s thanks to the one referral signup I got last week. As of right now, the minimum upgrade for Bitcoin cloud mining on Hashflare is 0.1 TH/s for $2.20

For the past 5 days, the average daily payouts has been $0.48 - $0.53

Each new upgrade (additional investment) makes a new contract (currently for a one year). Right, now I'm in the accumulation phase of hash power, looking to grow it by 9TH/s by the end of 2018. But let's see how does it go.

Five days ago my plan was to use a dollar cost averaging and purchasing additional 0.1TH/s hashing power each month at a cost of $22/mo and also to reinvest all profit for the next 12 months - until December 2018 and came up with the following table

Today, I can see that probably this is a great plan, but it excludes and option to actually withdraw any funds from Hashflare, just reinvest, reinvest, reinvest - I believe we should take out some money sometimes as well, and that's why I decided to reinvest just 50% of monthly profits in purchasing additional hashrate and withdrawing other 50%.

As of today, minimum withdraw on Hashflare is 0.05 BTC (I believe in normal circumstances it's 0.01 BTC)

Hashflare withdrawal information

Hashflare withdrawal information

Depending on what will be the withdrawal limits at the end of 2018 (a time when my yearly contracts will start to expire) - directing about 50% of profits to withdrawals seems a good option.

As the matter of fact, if withdrawal limits are kept at 0.05 BTC at the end of 2018, it could be even impossible for me to withdraw at current rates and without reinvestment. 

It should be noted that earnings on Hashflare are made in BTC, so the total value of earnings in USD depends on BTC/USD exchange rates. If BTC goes up in value, so do earnings in USD, if it goes down, so do earnings in USD.

Also, it should be mentioned that hashflare takes $0.0035/daily maintenance fee for every 10GH/s - which is about $0.08 daily 

The Bottom Line

Despite being the smallest investment in 2017 - Hashflare seems very promising (at least in Decemeber 2017) and here you go - another interesting experiment to run for the next 12 months. Make sure to subscribe below for e-mail newsletter or enable push notifications to receive latest updates on how does it goes!

Sign up to hashflare.io cloud mining here. (Affiliate link included) and please note - I'm not a financial advisor, services mentioned in this article use at your own risk and remember your capital is at risk, you could lose some or all of your money.


Hi! My name is Reinis Fischer (38), a proud dad and devoted husband. CEO and Founder of Terramatris crypto hedge fund, drone enthusiast, world traveler, photographer, and passionate lover of Georgian cuisine (vegetarian).

An ex-pat living in Georgia since 2011, I trade stocks, take photographs, work out at the gym, and many more. Here I write about travel, finance, and other things that might interest me.