History of HashNest
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. So far so good!
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.
Maintenance Fee Rating
HashNest just reduced their maintenance fees to $0.0975/kwh, which is the lowest maintenance fee I have seen from a hardware-backed cloud mining venture. If you are mining with their 0.7W/GH hardware, that works out to $0.049/GH/Month, and if you buy a contract for their 0.5W/GH/S contracts, that works out to $0.035/GH/Month! With such low maintenance fees, your investment will remain profitable and productive for much longer, and offers a much quicker return on investment. I would give them a 10 if they had zero maintenance fees, but this is not likely going to happen given their dirt-cheap pricing.
HashNest’s dashboard is functional, but doesn’t offer a single snapshot of your account in a single screen. HashNest does offer separate screens for account balance, earnings graph, transactions, and settings, but they user needs to toggle between the various screens. As you can see from our screenshots of HashNest’s dashboard, it provides enough basic information, but doesn’t offer anything unique, and isn’t as user-friendly as we have come to expect. Aside from that, their Chinese-English translation could use a little work as well.
Payment Reliability Rating
HashNest has been extremely reliable with payments as you can see from the screenshots. I don’t have anything to say except that I’ve been receiving consistent payouts over the past month.
HashNest Signup and Referral Bonus
At this point, HashNest does not offer a signup bonus or referral bonus. This really hurts their overall score. If they decide to offer something (even 1%) for referrals or new signups, I’ll increase their score.
In my opinion, HashNest is the best value cloud mining company at this point. Their dashboard is lacking, and they don’t offer a referral or signup bonus, but they win where it really counts. The most important factors in cloud mining contracts are trustworthiness, pricing, and maintenance fees, and HashNest leads the industry in these areas. I highly recommend HashNest as part of a balanced portfolio of cloud mining contracts.