As reported over the weekend, Zeushash, the cloud mining operation of Chinese hardware manufacturer Zeusminer were facing uncertainty over their cloud mining service due to the low price of Bitcoin rendering the service unprofitable. As per their terms and conditions, contracts would be frozen if daily payouts of GHS weren’t able to cover maintenance fees for 10 consecutive days, leading to the company urging users to not purchase any more contracts whilst they renegotiated rates.
True to their word, according to the companies latest blog post, negotiations which focused on more cost effective mining hardware and cheaper electricity rates were successful and they will soon be able to offer new cloud mining contracts. At present there is no exact information regarding pricing though the company expect to formalise details within a week.
[blockquote]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!! The new GHS contract will be supported by much more advanced miners and lower costs for both energy and maintenance. Therefore it will be operating much longer!![/blockquote]
The update will also be good news for those already using the service with Zeushash announcing favourable discounts for existing customers
[blockquote]Good news for our current customers is that you will enjoy a privileged purchase of the new contract with a Big Discount!! It’s a gesture to honor your long-term support in ZeusHash.[/blockquote]
In a week that has seen many speculate that mining is dying, Zeushash have remained dedicated to their customers, reacting quickly in dfficult circumstances.