Bitcoin Forum

Update 1: SinoHash's one-megawatt facility has been completed and will be fully operational tomorrow (2016-12-2).   

Update 2: The headline has been modified from the original "Near-complete China-based Mining Facility Opens Up Pre-orders" to reflect on the progress of the project

PREMIUM TURNKEY HOSTING FROM CHINA

★★★ 0.045/kWh (LOWEST IN THE WORLD!) ★★★

These prices include the costs of electricity, ventilation, cooling, networking and:

24/7/365 security staff
Pool configuration
Dedicated webcam

★★★ Capacity: 1 MW; 25% Full ★★★

Background:

SinoHash (https://sinohash.com/) is a new bitcoin mining hosting service operating from China. Its one megawatt facility which has been under construction for a month is now near completion and expected to be operational by the end of next week tommorrow (2016-12-2).
This facility, located in Sichuan province of China, is capable of hosting 700 to 800 units of bitcoin miners depending on specific models.
Once completed, the SinoHash facility will be offering hosting service to the global mining community for a competitive price of USD 0.045 or RMB0.30 per kWh. So far, this low price is second to none in mining hosting world.
Given the amount of interest this service has already received and limited capacity, we decide to open up preorders to allow early users to reserve space when there still is.

Method:
Interested parties please send a deposit of 0.05 BTC per unit to the following address:
17sJZCctrh8wiVy18CYRu8o6jKjBiXb28F.
This deposit is non-refundable but will be deducted from your mining cost once the service starts.
Anyone who has completed the transaction please post your transition ID on this thread or PM OP as a way of notification.
We encourage each user to reserve no more than 20 units of space as it is in our interest to have as many customers as we can.
Once the 700 units limit is met, OP will update this post and return the fund of the unsuccessful applicants back to their wallet addresses.  
For a detailed agreement please refer to this page (https://docs.google.com/document/d/1Rt3XhUVp9fQzVOtwG7aNfGikDbzvDGI-AuasQgBEKGo/edit?usp=sharing).
Had you have further enquiries, please refer to the company website or contact OP, founder and owner of SinoHash at eric.mu@sinohash.com.

Terms:

SinoHash Miner Hosting Agreement

SinoHash undertakes to be production-ready by the time the miners arrive. In case the hardware arrive whilst SinoHash fails to deliver the Service, SinoHash undertakes to compensate the Customer the amount of bitcoins or other crypto coins mined per day minus the hosting cost that both sides agreed to or its fiat value of the specific day. In case the delay exceeds 10 days, the Customer has at is sole discretion to demand all its hardware to be returned with all associated shipping cost borne by SinoHash.

SinoHash undertakes to pick up the hardware at the delivery point and deploy them within three business days after their arrival.

SinoHash undertakes to ensure safety of the Customer’s hardware from risks including fire, and theft.

Customer undertakes to ensure that the hardware is in good condition and functional when they reach SinoHash. SinoHash will use best effort to meet all requirements necessary for sustained optimal performance but have no liabilities if the hardware fail to operate due to manufacturing, design defects or shipping accidents; however, it undertake return the hardware to the manufacturer had their warranty still been valid and use best effort to repair the hardware either by themselves or using third party services.

SinoHash undertakes to ensure stable power supply and Internet connection during the service term except in extreme cases when its partner hydropower station fails to supply power or unpreventable Internet outage, then it undertakes to make best effort to find a alternative hosting place as a temporary solution and at a cost no higher than the SinoHash Hosting Rate.

The Customer has in its discretion the option to relocate Hardware but undertake to notify SinoHash with three months of notice. In case the Customer fails to give three months’ notice, he is liable for a penalty charge equivalent of three months of hosting cost to SinoHash for immediate release of the Hardware.

SinoHash will charge a fixed Hosting Rate of RMB 0.3 or USD 0.045 per kWh. This includes the electricity and all costs associated with the service. SinoHash undertake not to change the rate during the service term.

Let's think of this as legit business (not scam) and take this into consideration. You sell 24 hour plan for 10$ and s9 earns about 7$ per day (without electricity costs) so what's up with that ? if i want to test your Mining facility i have to pay you 3$ ??? And for month it's 40$ ? Some major alerts here. 

Hi there,

The 10 USD 24-hour trial was meant for new users who are interested enough to learn about the process but don't trust enough to purchase the entire miner. It would involve some hassle on our side which justifies the 3 usd markup - apparently not to you, sorry.

USD 40 monthly hosting cost is for users who have made a considerable commitment by purchasing a miner and shipped to our facility. It is meant to be a price that is globally competitive and based on my research, it is.

SinoHash is as legitimate as any hosting service is. We are trusted enough that we have signed up users even before we are fully operational. I suggest you do some research to become more familiar with us.

True it is hard to gain trust as a new brand. I take your words as encouragement.

SinoHash is a hosting service, which is different from most cloud mining services you are implying.
A hosting service by definition can't run on fractional reserve - users select their own pools and can observe from their accounts the status of each unit of their mining hardware.
To run a Ponzi, you by necessity have to issue some abstracted instruments, like shares or hashrate to be able to hide your operational facts from outsiders.
Our model simply does allow us to do that.
The only risk that I can forsee is that the operator steals customers' hardware assets. But that would be without any ambiguity a culpable crime in any jurisdiction and would ruin one's business reputation for sure.
But I wellcome scepticism and intend to provide my passport and proof of residence to any signed up users.
Besides, I am fairly well known through years of writing (Google Eric Mu) and previous work at a reputable mining firm.
As mentioned, the SinoHash farm has a capacity of 700 miners, I would risk the wellbeing of my life for the potential illegal gain 1 mln USD, which is not enough for a moderate apartment in Beijing even if they are the most expensive S9s. Not any rational being would do that either.
If the past is any indication of future behaviour, then I can ensure you that I haven't scammed anyone during my entire professional life  - go search my Linkedin page. I am happy to provide the contacts of my previous employers and business partners who would more than willing to vouch for my integrity.

The following is a description of the model of a hosting service exemplified by SinoHash:

1. Users purchase hardware or entrust the operator to purchase hardware.
2. Hardware is shipped to the operator's facility and put online.
3. Users set up pool accounts and designate wallets to receive the payouts.
4. Operator points the miners to the users' designated pool accounts where users can observe the status of their miners in operation.
5. Users receive regular payouts.

The following is a description of the model of a cloud mining service:

1. Users purchase a contract that the operator claims is backed by mining hardware (but you never knows ).
2. Users receive regular payouts.

Note that with the second model, Users has no reliable way to verify if the payouts come from the hashing hardware that they supposedly paid for or simply from the investment of other users.
From the perspective of the Operator, after having received the Users' fund, few could prevent him from abuse his control of the Users' fund aside from his integrity (the habit to do things morally ) and long-term incentive (long term greedy ) - many couldn't resist the temptation and turned into classic Ponzis.

Scam alert!

This is really starting to look scammyy... pay for something I have not seen with my two eyes, with no trusted forum member to serve as escrow?

Veerryy Fisshyyy. :o ::)

Looks like you have some contribution to other site like coindesk, haobtc and even forbes https://cn.linkedin.com/in/eric-mu-b5194315


So, basically you just a hosting who will be a medium from users to mining hardware manufacture, which the mining activity is doing at your place?
How about the payout will be? what my view is user will be pay some electric bills, and pay for your manage service, isn't?
Then how you providing to users if you bought the hardware?

Like people said, prepare your umbrella before it rains, should be using escrow.

This is not about 3$. I'm talking about disproportional plan prices as well. And if you are talking about that I think that if you want to interest some users in your service it's bad idea for them to pay you. When you see guy on the street promoting crazy new candy, do you pay him to test it because he is standing there all day promoting and wasting time ?

We will install surveillance webcam to allow users to monitor the facility and their hardware. In terms of trusted forum member, who qualify? How does escrow work in a hosting relationship?

There are some list of trusted escrow:
https://bitcointalk.org/index.php?topic=855778.0
Talk to member who you want to ask for being a your escrow, they have their own terms. or you can create a thread, using your own terms to attract.

Thanks for detailed information about the escrow on Bitcointalk.
Now, can you explain us how this escrow had to work with this project?

@OP
To be honest it is very difficult moment to run service like this. If everything is legit, I suggest you, to look for investors on your local market.
Bitcointalk was flooded by "cloud mining" scams, and now people do not even want to hear about similar investments.

But I like idea of surveillance webcam.

Thanks. I am actually quite opportunistic for the following reasons:

1. I worked almost two years for HaoBTC, a mining firm, and my experience is that people do use "cloud mining" service, even it is a Chinese one.

2. With USD 0.045 per kWh, I have the cost advantage. This is achieved by "Chinese" efficiency and cost control.

3. I am not selling hashrate contracts, but offering a hosting service - the later differs from the former in it being real-time verifiable and ponzi-proof (not scam-proof admittedly ).

4. Big part of the value proposition of SinoHash Project is to give people outside China access to low-cost resources and bring good name to this space, so to some extent, I am indifferent to the outcome - if nobody use my service then I just go buy a few hundreds cheap secondhand A6s or S7s and use it for myself - Nothing to lose.

5. I have a stellar verifiable track record - worked as a blogger / writer means that you are highly visible trail of record on the Internet and if you ever did dodgy stuff, people say shit about you.

And I have a good reason to be opportunistic:

I have already received some enquiries and some people already decided to do "pilots" with me.

I have friends overseas that I never met in person who trusted me and wanted to "support my business" by hosting one or two miners.

Actually, someone on this forum sent me 5BTC yesterday to book space for 100 S9s.

Thanks. But I still fail to see how escrow can add value in this scenario.

Escrow works in out-of-exchange trading as it is easy to verify if one party has made the fiat transfer.

But in my situation, I ask people to put a deposit to reserve rack space - how can an escrow outside China know for sure that I kept my end of bargin?

Like i said before, ask the escrower how the terms work, explain how buy the equipment, ect. in this case you must be transparent to your escrow(only).
As far as i see, in this case you need at least take out your cost first for buying the equipment, to providing you have bought, you can talk more with your escrower.

So you are the founder of sinohash,since you have been here a long time you can now how everything works in this business,and nice to know that you are addressing each concern I bookmark your service and will calculate on it's profitability..

Those surveillance cameras are going to help to keep this business running

Thanks for the kind words.

One thing I would like to add aside from ponzi-proof is that compared with hashrate contracts whose value evaporates as long as profit drops below breakeven point, the advantage of owning your hardware is that even you can no longer mine profitably, you can still sell to those who can and China being where most hashrate concentrates and some people can get free (but illegal ) electricity, you can always expect to sell quickly at relatively high prices.

In case anyone here is interested in purchasing secondhand miners and have them hosted at the SinoHash facility, here is the quote from some reputable secondhand dealers operating in China.

Avalon A6 without PSU RMB1,750
Bitmain S7 4.45T with original PSU RMB2,350
Bitmain S7 4.73T with original PSU RMB2,500

Note that the prices fluctuate and by the time I post, these prices may no longer be available thus such info is only meant to be used as a reference.

Update:

Already have 160 miner space booked - 500 more and we will max out and close this thread.

Update:

SinoHash one-megawatt mining farm will be fully functional tomorrow. Still have some space left.

I totally agree with your point of if any user is taking his service then he wont be in profit but will be straight away 3$ loss , then why i dont think that any user will try to invest in mining firm where it is clear before investment that he will be in loss of 3$ or what ever but it is clear that the users who ever are going to take service from the OP will be clear in loss and never get profit only OP will be getting profit from the users investment.

So i think that it is clear that who ever is investing as fools or over smart users.

I suggest you do some research before making a misleading statement like this - 0.045USD per kWh hosting fee is very competitive in the market and is the cheapest I ever know.

The USD10 per 24 hours trial is just for people who are curious about the procedure and is not intended to be a regular offering.

The mining hardware has retained its value fairly well for the past four months at least - if you have purchased any mainstream model in mid-July, be it A6, S7 or S9, you wouldn't lose any money and can expect to resell your rigs the same price you paid. Meanwhile, all the coins you mined during the interval minus the cost is your net gain.

Your hosting prices and electricity fees are somewhat confusing for me. Let's say I would purchase a miner (S9 + PSU) through your site, what other costs would I face? The hosting costs for the specified model, the electricity fees, or both?



PS: You have a picture of an Antminer set on your Avalon product. You might want to change it, as it looks a bit unproffesional ;)

The website has yet been officially launched. I just decided to put it there for the purpose of gathering feedback and to have an online presence. I do get paid by customers but through my personal bitcoin wallet and we sign old school contracts. Still need to get the company incorporated so users can pay using credit cards.

In case someone intends to buy a miner and have it host for 12 months, simply pick one from the "available miner model" collection and buy 12 hosting monthly packages that match the chosen model.

The hosting cost includes electricity, ventilation, networking, etc. basically anything except the hardware itself, which you need to pay seperately.

No other costs involved.

The reason that I use antminer for avalon is that I can't find one that is consistent in style with the antminer pics and being obsessed with aesthetics, I decided to make it unprofessional, quite deliberately.

Hope this answers your questions.

Q&A with Eric Mu, Chinese bitcoin miner

http://supchina.com/2016/12/06/eric-mu-bitcoin-mine/

The digital currency Bitcoin was invented in 2008 and began making headlines in 2013, attracting converts and speculators alike. Bitcoins are “mined” using powerful computers that solve mathematical formulae to generate pieces of computer code that represent financial value. The process of mining them profitably requires such immense computer power that “server farms” full of hundreds of machines, all accompanied by fans blowing nonstop to keep them cool, must be set up in warehouses.

Once created, Bitcoins are tradable in some markets, though many countries have banned or restricted the use of Bitcoins, and the People’s Bank of China (PBOC) banned commercial banks from dealing in the currency in 2014. Nevertheless, China has become one of the world’s leading markets for and producers of Bitcoin.

In 2013, the price of one Bitcoin exceeded $1,000. As irrational exuberance over the virtual currency subsided, the price fell to below $200, but in recent months, it has been on the rise again. It’s currently back up above $750.

We talked to Eric Mu, a Chinese entrepreneur who runs SinoHash, a Bitcoin mining facility in China, and says he became engrossed with the idea of a monetary system that could bypass the state. China provides a natural place for Bitcoin to take off, Mu believes, and he has staked out his plot in the virtual mining community while Chinese regulators have been content with a soft approach.

Jeremy: What is SinoHash, and what is your role?

Eric: SinoHash is a Bitcoin mining facility based in China. Like other mining facilities, it generates revenue in Bitcoin by running a large amount of dedicated computing equipment that consumes a large amount of electricity — one megawatt in our case. In the Bitcoin system, mining serves the function of securing the network against fraudulent transactions and miners are rewarded for contributing this utility.

SinoHash is also a miner hosting service — customers buy hardware equipment and ship them to our facility. We operate them and charge $0.045 for every kWh of electricity their machines consume. This service is not unique for people who are familiar with the space. There are facilities located in the United States, too. Our facility is located in Shimian, Ya’an Prefecture in Sichuan Province. The decision was made mainly due to the cool climate and cheap power supply.

Our cheap electricity is a main draw for clients. Also, most households don’t have the space or time required for the upkeep of a large number of mining rigs, which generate a great amount of heat and an unpleasant level of noise. But we have appealed to a small group of investors and it has been fairly lucrative over the past few years.

Jeremy: How did you get into the Bitcoin business?

Eric: I first learned about Bitcoin in 2013 and quickly grew engrossed with it. The idea of government-less currency resonated with me and I began to look for ways to get more involved. I tried a few jobs at Bitcoin startups and this eventually led to building my own Bitcoin mining facility and hosting service.

Jeremy: How would you describe the Chinese government’s attitude to and regulation of Bitcoin and other cryptocurrencies?

Eric: The Chinese government doesn’t have an explicitly formulated attitude as far as I know toward Bitcoin and the industry at large. There is evidence that it is concerned with a potential speculative bubble, which is often attributed to its ban of banks from directly handling Bitcoin-related business. Some government departments, the People’s Bank of China in particular, have recognized the innovativeness of the technology and dedicated resources to studying it, in an apparent bid to apply its underlying technology — blockchain — in building its own digital currency. When it comes to mining, there is little regulation and interference. Personally, I think that Bitcoin has outgrown the stage where a single government can profoundly affect its development, so I am not too concerned with the Chinese government’s attitude.

Jeremy: How many people do you estimate are trading Bitcoin and other cryptocurrencies in China?

Eric: Due to the nature of Bitcoin, there has been lack of reliable data in this regard. There is a small group of frequent day traders — my guess is a few tens of thousands. Meanwhile, there is a much larger population of people who occasionally buy and sell to fulfill a need. They often do this through face-to-face transactions or social payment tools, which is very hard to monitor. I, for example, often facilitate people to buy Bitcoins using WeChat payment. I have a friend, an American expat living in Beijing, who regularly buys Bitcoins worth tens of thousands in yuan every month through me, and he has done this consistently for at least eight months.

Jeremy: Why has Bitcoin become so popular in China?

Eric: China has all the right conditions for it to grow. Here are some of what I think are the most important factors: a large internet-savvy population, cheap and abundant hydropower, mature electrical manufacturing, capital control and a depreciating currency. Historically, the savings rate is much higher here and Bitcoin has proven to be a resilient store of value. But I wouldn’t advance the argument that Bitcoin is more popular in China than elsewhere. Some of the most well funded startups in the space are probably in the United States.

Jeremy: How much do you think one Bitcoin will be worth in one year’s time?

Eric: I think it has a good chance to exceed the USD1,000 mark once again. After that, the sky is the limit.

Best of luck. I was the first to post on HaoBTC's thread and I hope this is also the start of something as awesome!

We are currently 60% of our full capacity only two weeks after official launch; the demand is going strong as bitcoin prices.
https://i.imgur.com/qUF8BjO.jpg
https://i.imgur.com/UFyZDRl.jpg
https://i.imgur.com/Ib6EM1z.jpg

It looks really amazing! And it seemed that this is not a good time to build a farm ..  ::) ;)
I keep my fingers crossed for the success of your project!

How many % of this mining rigs is yours, and how many own your clients?

Most of the S9s - I would say 80%, and all the A7s are clients.

I've seen several burned farms, and sorry if I missed this information, but is there any insurance company that gave you insurance for all that stuff, or maybe you give some other guarantee in contract with your clients?

Not yet but we can potentially arrange something - really hard to get insurance companies onboard though - they would scratch their heads trying to understand why some noisy metal boxes are worth 1600 dollars each.

To address your concern, I have been considering to buy some of these - https://www.youtube.com/watch?v=VkGGR1o9IC8

My girlfriend is from Slovakia and a few months ago while visiting her family, was there some picnic where fireman's show how this ball works in action. I was impressed!
It can actually be a good solution..

They would, or they are scratching their heads? Though a minor way of words, such is quite a big difference. Though by the looks of your style of communicating, I am inclined to lean towards the "would". No offense meant in any way.

So, if "would", you said that around 80% of the pictured hardware consists of 80% clients S9's and that all the S7's are solely clients. S9's are indeed like $1600 machines, of which accordingly to your own saying you once said you personally own around 25 of them, hence currently you must have like 125 pieces of S9's hosted, equaling a total value of $200.000 in S9's alone.
S7's are around like $370 machines, and with 60% of total acclaimed available capability currently occupied of between 700 to 800 units, this would equal anywhere between a rough 295 and 355 pieces of S7's, averaging a rough worth of $120.250 of S7's.
So currently your company is responsible for assets worth of +$300k alone, potentially ending up anywhere between a rough 0.5M and 1M. Your company is responsible for that, and you're acknowledging (which is appreciated) that such an amount is at risk due to the absence of insurance?

My point is, you are quite trackeable. And, you are responsible for quite a bunch of other people's stuff. Plus, I believe your intentions are genuine and that you have a 'warm heart' towards the Bitcoin and such. So if currently insurance companies prove to be a pain, I would say to just install those damn (anti) fireballs  ;)

These in one of the pics are not S7s but A7s made by Avalon - the value of each unit is about USD 750 each

I previously worked at a larger mining firm and at one point they were considering insuring their hardware due to popular demand, but eventually came to the conclusion that it was not practical to do. I am proposing to insure using my own fund in a verifiable way. But I need some more specific suggestions.

All clients signed contracts and they have accepted that if force of nature causes losses that can't be avoided, they would waiver their ownership; I would prob go bankrupt both in terms of money and reputation and unlikely to gain trust from the community again.

Hi Eric,

I'm interested and decided to buy one s9 and hosting from you.

Please confirm that you are interested.

I think that it can make me happy and then your next customers as well.

Confirm.

After you send the coins, plz publish the tx id here.

Please confirm that you receive testing 0.01 BTC

https://blockchain.info/tx-index/43f789721724498209d2259b5e7225201f39c33eed4e0f53c2c7d12c7db5cec2

Got it

I sent the rest:

https://blockchain.info/tx-index/8ceec63eaed85f6140eb46430a7a11b7f92c8599a023732ccface864b65cbf0c

Pls confirm.

Got the money. Shipping should take about a week. Will install as soon as it arrives.

Thanks Eric!

I really do hope that this is real deal done here and this guy usenet is not alt of OP. After this transaction, i've put the thread to the watchlist and we'll see how it will go from here.

This is real deal.
These are real money.
In addition, this confirmation is in my mailbox. As soon as the equipment will be installed I will inform here how things are going.

.....

Eric, here should be a discount for risk ;)

I am grateful for your support and trust but not sure if I can give u a discount - I have yet made any money from you by facilitating you to buy the unit directly from Bitmain Cn.

BTW, the order was shipped from Bitmaintech's Shenzhen factory.

Thank you for the information about the package.
Yes it's true. You've earned nothing so far.

Hi Eric,
I'm very interested in your business but I have few questions that I'm worried about, even if i'm pretty confidend your idea is genuine and you're a good man. I apologize in advance if the questions have been already answered somewhere.
Since there's no any implicit form of insurance, even if you wrote could make a sort of "private" insurance, covering the hazards with your money. What happen in case (please don't get offendend) something bad (really bad, try to understand me) accidentaly (and unfortunately) will happen to you? Do we will have a new referent? I mean, its important.

Hi BobTrade,

What you asked is a reasonable question and nobody should take offense by anything reasonable and rational.

Here is my thinking: While the business of hosted mining is fairly new, the underlying relationship between me and my clients is not - it is essentially a trustee-beneficiary relationship. And since I am neither immortal nor impervious to the multitude of misfortunes and tragedies of life, I should make provisions for them.

What I plan to do is that at some point (should be over the next few months), I will name two or more individuals as successor co-trustees so the management of the operation will continue after I die or otherwise find myself in situations where it becomes evident that I can't continue my current role.

SinoHash is still an infant - its first iteration the 1MW Penthouse has been fully operational only for two weeks. While I have great hopes of it, I hope everyone to be patient, as I am. Meanwhile I encourage you to continue sending your suggestions as I think this should be a project that belongs to the community and has the potential to start a new movement.

Right now I am the main guy behind it with the help of a few friends who, despite their great contribution, were not paid in money  (they do have scores of S9s hosted in the place tho ) - And at the current scale and profitability level, it would be hard to hire someone competent with good bilingual communication skill and also interested in crypto to work full time. However, as the project grows, I envision SinoHash will be a truly international and globalized team wtih sound corporate governance structure and a legend in the history of Bitcoin.

BTW, my UK lawyer just emailed me the business license for SinoHash (registered in IoM) - so from now on, we are officially a company.
 :D :D :D

Congratulations! I'm contacting you via PM in few hours.

The SinoHash project was launched with the vision to bring profitable mining to the bitcoin masses.
Two weeks down the road, I realized that this is not going to benefit the masses - the numerical majority of the community as much as the whales - those who have a bitcoin wealth and higher risk tolerance. Right now, two of my clients account for 80% of the miners hosted in my farm while the rest account for less than 10%. When a strong motivation of doing this is the prospects of working for myself so it was not my intension just working for the few wealthy clients.

I do however received some email inquiries from people belonging to the first category and they expressed interest but also concerns.

They are small investors who are interested in mining but have less risk tolerance. Many have experience investing in cloud mining.

https://i.imgur.com/koD0QPQ.jpg

Here is one example that involves a certain Ed.  

I first knew Ed because he paid for two S9 hosting packages through the SinoHash website - which is the monthly cost for hosting one unit of S9 ASIC miner manufactured by Bitmain Tech at SinoHash Penthouse.

Ed never contacted me after he made the purchase and seeemed to have forgotten the matter altogether.

After a few days I decided to contact him explaining the idea of SinoHash. The monthly hosting package is something that you need to pay for after you already have a miner hosted with us - think of it as owning a mobile phone and toping it up monthly to use it.

This was never the case with Ed.

I wrote him and offered to refund him if he misunderstood the idea.

Turned out I was right. Ed replied that he thought he was buying something else - He said he previously invested in cloud mining and assumes that by paying he bought some shares.

I asked him if he was interested in buying a miner and has it hosted with us.

He said that he didn't feel comfortable investing in a whole unit of S9, which requires a considerable initial investment of 1700 dollars - apparently too much for him.

Ed's case is not incidental as there are many people out there like him - they want to invest but are daunted by 1700 dollar initial investment.

Would there be any ways to serve them?

First idea that came across my mind is to have a group of miners, say 100S9s and divide them into 10,00 "shares". Each shareholder can own as little as 1/10 of the total value of a S9 and they will be entitled to 1/10 the daily dividends of the miner.  

The second is rent to own - which requires investors to pay a monthly increment until they paid the full amount of a miner so they will own the unit.

Right now I am still working on the details, but if you have any good suggestions, I am all ears.

Eric,

1. Equipment prices are rising.
2. Award for the block solution is decreased by half.
3. Payback time is longer.
4. To earn reasonable money you have to accept greater market risk and invest more.
5. It is possible to earn money by using the GPU.
6. To make money you must have cheap energy. These points are located primarily in China, but not only. Usually this is far from the investor. This increases the risk.
7. The language barrier.
8. There are new products. Cloud Mining expands -it is simple.
9. Equipment failure grows.

You are replying to points: 3,6,7. But there are still many barriers: 1 and misunderstanding of the topic. Just a lot of people do not understand the differences and nuances. It is very important that competition in this market is growing. We have: hashnest (hash and pacmic) ViaBTC, Haobtc, BW, Interest wallets. Again, most of China.
I would recommend the topic about [lee group] pcfli: https://bitcointalk.org/index.php?topic=1283287.0

At the moment, we have two main products:
-hash power and hash market (cloud mining)
-pacmic.

You have a great opportunity to introduce new products to the market. You will still have a lot to write explaining the action.

Very interesting thread about pcfli - didn't read through the whole thing but wish it had a happy ending.

Right now not too concerned with competition - unlike these companies you listed, SinoHash is intended to be small and nimble and I am not ambitious like most of them as I only wants to do one thing that is run the farms properly and reduce unnecessary costs (synonymous to creating more profit for customers ).

During my previous job I witnessed how a five-member startup growing into a medium sized company with enough staff to fill up a significant section of a floor in an office building in one of the more expensive areas of the city. Complexity increases. Bureaucracy increases. Operational costs increase. I think I can avoid some common mistakes such as prestige spending, developing products not needed by the market, etc.

And what I do is differentiated enough. One of my clients is a Bitmain executive who is planning to send a few miners to be hosted here - had I been a more sensationalist writer, I can make a headline like Bitmain executive ditches HashNest for SinoHash  :P :P :P

did someone tried the $40/month plan? realistically, can it be profitable?

It's great for your business Eric. I am glad that the popularity Sinohash is growing.
I hope that a long-term business.

Yes quite a few.

Profitable - for whom?

For me, yes, marginally so

For customers, likely since I haven't seen a lower price

This is a fee for hosting.
First, you are buying the equipment. Then you earn and pay every month for hosting your s9, A721 ...

oh, now it makes more sense, it seemed too profitable :)
And what about the 24hour plan? Is the miner included? (I know that in this case it isn't profitable, but it can be good for testing)

Yes - basicly you pay USD 10 to rent a S9 for 24 hrs.

Nishant Sharma a friend who works at Bitmain said that his company offers discounts on bulk orders (50 or more) - and I still have some capacity left in my farm. Wondering if anyone is interested in a group buy of S9s. PM me if interested.

My hardware is working.
Today was connected according my setup. Everything is fine at the moment.
Thanks.

@usenet, what country are you located in? What pool are you mining on?  I am considering this hosting service myself

Poland. EU.
For some time, I prefer PPS in mining. Therefore I choose Antpool and F2pool. In addition, also using the Slushpool.
If you're hosting in China select chinese pools. Its better.
philipma described the case when he was hosting with Mr. Li.

I will not support antpool due to excessive empty blocks. If there are some good smaller chinese pools then that is a better choice IMO

You purchased directly from Bitmain and shipped to SinoHash?

That's why I chose the PPS.
PPS method with 0% fee would be 12.5 BTC divided by current difficulty: Shares/Diffculty * 12.5 * (1-Pool Fee).  It is risky for pool operators, so there is a fee but stable payout. The pool bears all the risks of bad luck and orphaned blocks, hence a higher fee. Antpool has 1.5%, f2pool 3% , ViaBTC 4%.

I know that Haobtc has its own pool. Not only the interest wallet. But I have not tested yet. Similarly BW.com, ViaBTC and BTCC.

The purchase procedure looks at the moment as follows:
"I subsequently place orders with Bitmain and inform my customer the total cost and payment address. They would pay on their end in bitcoin. So in the process, they just pay Bitmain directly and I never touched the money. Once the order is settled, the shipment would be dispatched to my address."
https://bitcointalk.org/index.php?topic=1684172.0
The changes are a matter of agreement with Eric.

Hope I helped?

Thanks!

FYI Antpool chooses to mine empty blocks (ie no tx) because of a financial incentives at the cost of everyone else mining responsibly. This is why i will not mine with Antpool...nothing to do with payout structure.

https://i.imgur.com/R1wRiLJ.jpg
Now the miners have balls!

I understand that in addition to fire protection, hash rate automatically increased?  ;D

And the difficulty decreases!

Eric worked with me this week getting 2 miners set up in his new farm.
I am pleased to announce these miners are now in place and running.
Eric has been very responsive to PMs and pleasant to deal with.
If anyone want to check how things are going before they consider his service, you are welcome to PM me

So far so good, happy with transaction

4.5 cents per KWH is a good deal and I'll be placing more miners as time goes by

Eric,

It seems that Bitmain is interested in the LTC market.
Just released new hardware.
What do you think about that?

A client wants to divest 12 units Antminer S7s, interested party pls contact me.

Purchased some A721 miners and hosting with Sinohash, got my pools set up quick and very responsive so far!  Will vouch for Eric as he continues to grow!

Two things:

In response to recent inquiries concerning the availability of new S9s, sorry I don't know and I think very few beyond the small circle of senior Bitmain executives know - the sales rep that I previously contacted told me that there would be a new batch before New Year, but didn't happen. He later told me that would be small number before the Chinese New Year, but yesterday when I contacted him again, he couldn't confirm.

I heard a rumor that Bitmain has built a 50 mw DC and is sending all new S9s to their own facility, if this is true, until the new facilty is filled up, chances are the rest of us won't see any new S9s.

Also if you are interested in purchasing 2ndhand rigs, pls send me a btc deposit to indicate your seriousness - include your tx id in your email or pm. I receive a large number of queries everyday as much as I'd like to help everyone of you, I am just one human being with limited attention and time after all.

If I can't get the miners or the prices are too high, then the deposit will be returned in due time.

Miners offline, is there a power outage for the New Year again?

Coming back online but only appears to be hashing around 80%. Down 9:09 am - 5:00 pm CST for me.  Glad to see them back though!

Confirm.

Due to the time shift we wait a little bit.

Same here, I guess we will wait and see

Power was turned off without advanced notice by the power station due to a leak  - Was not on site and my new employee didn't know how to switch on the backup power, causing the extended outage.

I have been spending much of time traveling these days looking for a suitable place for expansion so are not managing the farm myself. I understand the confusion and panic that situation like this must have caused something I will try harder to minimize them if cannot avoid completely. Also accessing bitcointalk and gmail requires a VPN here and I haven't got a working one on my phone, ergo the delay to respond here.

I have some miners, including my own on btc.com (User name 18610033995 Password: sinohash), if all drop simultaneously, then most likely there is an outage either of Internet or power.

Eric,

Thanks for the information.
I think we should establish a channel for communication in such cases.
Do we have to write in this thread, e-mail or PM or something else eg. WeChat.

My Bitmain contact told me they will release some R4 - 8T model around 3:00 tmr. Price seem to be CNY 8200 per unit. Let me know if interested in buy & hosting.

Wechat prob work best. My ID is ericmxl

They released an unspecified number of L3 miners this afternoon and sold out within three minutes - seems there is great demand.

L3's are moving like hot cakes!  Making my A4 purchase in November look not too great right now lol.

Small number of Antminer R4 available, pm me if interested.

Two months old S9s (12.5 TH and 13.92 TH ) available from a reputable Chinese dealer ready to relocate and for hosting- contact me if interested.

PM sent.

A customer wants to divest three S9 11.85 TH, including one hashes 2/3 of full capacity - likely to have one faulty hashboard. These miners are currently hosted at the SinoHash farm and can flip pool immediately upon payment. The customer is asking for CNY 10k for the two normal ones and 9.5K for the faulty one. Contact me if interested.

My friend and I are hosting 15 x S9 miners at Sinohash. I'm currently on my way to Shimian (Beijing - Chengdu - Shimian), so once I get there I will post some photos of the facility (with Eric's permission).

I also might join Sinohash team in the future.

Looking forward seeing pictures

We have temporarily reached our capacity limit - no more orders for now. Will update once expansion completes.

Update on the development of the new SinoHash facility:
https://i.imgur.com/5wy2Nv1.jpg
https://i.imgur.com/YczL1tK.jpg
https://i.imgur.com/Iu7cDaL.jpg
https://i.imgur.com/d9OHVbT.jpg
https://i.imgur.com/nf3wiKp.jpg
https://i.imgur.com/mKnD0JD.jpg

After having built and successfully run the original SinoHash Penthouse facility for over two months now, we are expanding due to popular demand. Similar to the original SinoHash farm, the new SinoHash farm is also built on top of an existing structure, with space conservation and security being some of our design considerations - as you can see from the picture, the new farm perks on top of the controlling room of a 8 MW hydropower station, which generates electricity that supplies the farm. The new facility has a designed capacity of 1.3 MW and will accommodate 900 - 1,000 S9 miners. The hosting price will stay unchanged though due to administrative limitation, a 10-miner minimum will be implemented. You can reserve space now by contacting me either by email or pm.

Congratz on latest building Eric!

My contact at Bitmain told me that they will release another batch of T9s (11.5TH model ). PM me if interested.

Thanks for the photos. It looks impressive. The property is well located. Power is almost reliable.
If hosting will be so reliable as it is now, the new SinoHash farm will be filled within the next two months.

I have to thank Eric for his commitment to customers.

P.S.
Kettle in the photo is amazing  ;)

Thanks for the kind words. I am lucky to have you as a customer and there are so many things I can do to improve I am sure.

I've got to second usenets message.  I have had my share of bad luck (like most miners at times) but Eric has been very fair and responsive in resolving any issues!

+1 SinoHash

How do you accept payments and how do you pay back to customers? I haven't found a "create account" link on the site... What is electricity cost at your facility? What mining pool are you using?

Payment can be sent either using bank wire or btc but the later of the two is much preferred.

Creating account is not needed. You can check the miners via your pool account.

Electricity including maintenance cost is RMB 0.3 or USD 0.045 per kWh.

You pick the pool(s).

So I would pay electricity fee USD 0.045 per kWh. Am I correct that the miner is 0.115 kW per THs? In this case I would pay per day:
1) 13.5*0.115*0.045*24 = 1.68 USD electricity fee.
2) 40/30 = 1.33 USD hosting fee.

Total is 3.01 which is greater than currently at Hashnest.

As far as I know the total fee for hosting & maintenance is 1.68 USD per day, which is significantly cheaper then Hashnest :)

So what is this Ant S9 miner hosting fee about?

https://i.imgur.com/gPpklJa.png

My understanding is that maintenance fee cannot consist of pure electricity, there should be also operational expenses (salary, profit, insurance). Hashnest probably can afford include electricity fees only, because they also get profit from AntPool and Bitmain. How does SinoHash make profit?

And how do I get paid back and on what basis (PPS, PPLNS)?

Rogerdale,

You mix some idea.

It is hosting.
You buy s9, you agree that with Eric first. S9 works in Sinohash.
S9 configuration is followed by your data, which you send to Eric (pool URL, worker).
Revenues from mining are transferred to your wallet, which you declare in the pool. You choose PPS or PPLNS in your pool.
Every month you pay Eric equivalent of $42 for electricity you need to S9. ( Power Consumption approx. (1.3kW*24h*30)*$0.045=$42.12 )

Thank you. Now I understand.

Eric, the facility is very close to the river and doesn't look like massive concrete buildings... Is it safe? Do you have insurance to withstand a flooding or a landslide like this: http://usa.chinadaily.com.cn/china/2013-07/14/content_16772875.htm I see on Wikipedia that precipitation level in Shimian during June and July is even higher than in Amazonian region.

I did take flooding scenario into consideration when building the farms - that's part of the reason that both SinoHash farms are built on top of existing structures of the hydropower stations, as a result, they are more than three meters elevated from the ground - bear in mind these hydropower stations cost millions of dollars so the owners have much more at stake, surfice to say that sufficient measures have been implemented with efficacy proven by the continued existence of the hydropower stations.
The material is so chosen to suit the local climate. Strong wind is extremely rare as the region is surrounded by layer after layer of mountains; since they are built on top of buildings, light weight is appreciated.

The farm is situated in a valley flanked by mountains. There are villages built on the slope on the mountain closer to the farm (the vintage point where I took some of the pics), the mountain on the other side a wide river and a road apart; in event of a landslide on the near mountain, it would be catastrophic as the land mass would destroy the village on its path first, most likely taking toll of the lives of hundreds of villagers who have lived there for generations, before it reaching down to the hydropower station, and collapse the concrete and steel structure underneath - very unlikely.

Eric, are Ant S9 miners still available? I'm interested in buying and hosting one and pay in BTC. I've sent a PM to you.

I am interested too.

I failed to secure enough miners for my clients from the recent releases - they are sold out within a minute, literally.

But it is still available to purchase on sinohash.com

What miners are available to buy is the better question? Are the new T9s available? As far as i can see on the bitmain site they are shipping them in 7 days.

Read the whole thread and note here (https://bitcointalk.org/index.php?topic=1694162.msg17847470#msg17847470) that Eric now has a ten miner minimum for new clients.

The info on the website is often not up-to-date and I suggest you to check with me regarding availability and prices.

So, can't we get a "single" miner anymore? I know hosting one single miner is a little bit difficult but please consider the "minor" investors :) I believe what Eric is doing here. I was trying to host a single miner in his facility but since he is very busy and I'm a single miner investor we couldn't do that at least in 15 days. Due to lack of communication and etc. Now, Bitmain's all S9's are sold out, I don't have a chance to buy a miner and host it anymore.

I am asking on behalf of people like me, "minor" investors. Should we check time to time for opportunities or should not?

Cheers. 

Dear users

As you may know that we have been building a new farm - one that has stabler power supply and better temperature control- but today we experienced an issue that didn't occur during the test run and it led to the main circuit breaker to trip multiple times. Eventually we decided to switch the power off. Our electric engineer already located the source of the problem and promised to fix it tomorrow.

Apologies,
Eric

The new farm is now running stable after the fix. A small number of miners are not working after the relocation - if you have any miners missing, please let me know.

What is your view on SegWit and Bitcoin Unlimited?

-twats.

Hi Eric, your service looks good. I think you've made a nice business model with bright future (especially with such low el. prices ) but as usual there are few questions to be answered before investing.

I'm interested to purchase some S9 (or Avalon741) but my local el. power price is to high to be profitable. That's why I'm looking for alternatives.

1-your web offers Avalon 7 for 750$ ( but canaan sells them fro 818$ at the moment ). Is your pricing correct or out of date? Do you offer buying A721 or A741?
ps: you should update the web more often ... eg. click on Avalon7 brought me to page ..."products/avalon-a6-1" (it's quite confusing, made me unsure this is updated)

2-as understand I do not need to purchase the controller nor the PSUs to use your service. Correct?

3-What happens if the miner purchased by me has some issues? Will you contact manufacturer and take care of warranty or is it my responsibility? Will there be difference when buying miner from you or directly from manufacturer?

4-Could you provide how long it usually takes since ordering miner from manufacturer to arrive in your facility and full deploy ( interested in Bitmain, Avalon or BW )

Thanks for reply, good luck.

EDIT:
few post above i see the web is not updated so often. Could you please provide actual price for Antminer S9 and Avalon 741 (when purchasing via your web)?

The prices are no longer up-to-date. Pls contact me at eric.mu@sinohash.com to get a quote.

Sorry haven't been paying enough attention to warrant a legitimate opinion

40 two months old S9s (13TH) ready for takeover. Price 11,000 apiece and pool flip within 24 hrs upon payment - no delivery time and mine quickly.

Is this price in yuan? I think they are too expensive for this low BTC price and current difficulty...

Is it the price that Bitmain sells new miners at?

Bought one S9 yesterday and miner is already redirected to my kano. All went smooth, good communication (till late night CST) and quick deployment.

Thanks Eric


As you can see on bitmain web they do not offer S9s anymore ( only the T9s )

Still price is too high. Bitmain will have S9 in stock pretty soon

S9 are in stock again in Bitmain. The price for a 13.5 THs unit is $1296 (without PSU).

https://shop.bitmain.com/productDetail.htm?pid=00020170405095325800pA1af37a0667

I think a fair price for a 13THs S9 miner is about $1400. Any change to get some of these used miners sold at this price?

Announcement: SinoHash has closed a deal with Bixin (previously HaoBTC) to acquire its facility.

Man, you are developing very fast!
Congratulations!

Will you have free space in this facility? Power is reliable enough?
Or you bought the building together with their equipment?

Hi Eric ,

I just purchased the 1 month S9 hosting contract and i would like to have it running on ViaBTC.

I sent an e-mail with the information. I really look forward to see how it works and if everything works well i will buy the the whole thing!

Best.

Have you bought an S9 miner as well? For all Sinohash contracts you need to buy a miner before any hosting. It would be too good to expect a payment just from $42 hosting contract...

Did the purchase include the miners or just the facility?  Looks like mostly Avalon 6 and S7.

Just the facility - the video was filmed almost one year ago and the miners are no longer there.

Hi Eric, when the 6Unit GPU Miner Package will back?
And are you sell this machine too?

Hi, have you sold these miners already? What would be the total price in USD ?

I only built seven units - decided it was too much effort and discontinued.

Yes, they were all sold.

Hello Eric,

I'm Hannes. Placed an order for 50x S9 Miners today via e-mail. As I agreed, will pay this upfront in bitcoin, and you will purchase the miners and PSU units.
- Please let me know if 13 or 13.5th/s models are available (prefer those if yes). Today it looks like only 11.5th/s models are sold (they're OK as a second option)

I hope Bitmain bulk offer still stands :)


Regards,

Order confirmed.

Thx so far. Keep me updated on the miner purchase.

Once the miners are paid for, it will take up to 10 + 3 days (Bitmain shipping + Sinohash installation) for them to be operational - correct?

1. We made a deal via e-mail (confirmed here)
2. I sent you 50 BTC (the approx price you quoted for 50x S9 miners + PSU). The difference was supposed to be sent back to me, or more asked should the 50 BTC not suffice.

- https://blockchain.info/tx/ee0d439b8ad2d9b7ef2001e5db70385300f800467af0e133620f7f2f3f3209d2

3. I asked for confirmation when you have a quote and invoice for the miners from Bitmain CN. Seems like 42.74821158 BTC has already been spent and I have no information what is going on. Did you already purchase the miners or not?

HannRa, order takes at least a week in my opinion. This is due to my orders and contacts with Eric.
Eric has less time than ever before. Nevertheless, always after the delivery gives you information by email. At least it was in my case.
I also paid Eric for extra equipment. Keep in mind that Bitmain is shipping in China at the earliest from May 12th if you think about S9.
Price, shipping, availability are different for China and the rest of the world.

It would be cool to see Eric here more often.

Offline over a day, everyone else?

Yes, same here.

Also confirm.

I got information that there is a power problem and they are working on restoring power.

Thanks for the info, they seem to be back up and running.  

Edit: Back offline. I've never experienced so much down time from hosting. Frustrating. 

And I've just placed my order before when this happens :)

Btw. Is this 1st or 2nd facility with power issues?

I don't want to discredit Eric as it is nothing personal, but it has been both facilities.  We won't find a hosting rate at his price point which is great but there can be some expected down time.

Due to increase of managerial burden caused by spike of interest, we will suspend taking new orders until further notice. Thanks for your support.

The first facility is currently rented out so it is no longer in use.

Right now we are operating from two locations - the first is "The Second" which I posted photos about, the other was purchased from another company last month.

While I understand that nobody like downtime but I also hope that everyone can understand that we are operating in a region that is not quite your first-world urban homes.

And accidents happen.

This is an road that I travel very often as it connects two of our farms. And one day it is like this.

https://i.imgur.com/ZhjxClH.jpg

And we have to travel like this.

https://i.imgur.com/WDg85Zi.jpg

https://i.imgur.com/zDseXXL.jpg

https://i.imgur.com/E7SaCuw.jpg

The point that I post these is that if some equipment at the hydropower station fails, it typically takes one day to get a qualified engineer from the closest town to identify the problem, and another day to obtain the necessary parts to replace the broken ones.

If a landslide like this takes place, the Internet cable may be broke too.

...

But with honestly, I believe 95% uptime can be realistically achieved given the current condition - note that even 5% downtime translates to 18.25 days per year.

Thank you Eric.

We often do not realize the difficulties you have to overcome.
These pictures for me are scary. Reconstruction of the road must take some time.
The land is mountainous and sparsely populated. Under such conditions it is hard to talk about reliability. Reliability simply costs money.

I personally work in a secure environment. Two different power lines with automatic switching. High power UPS. High-power generator in stock.
I try to understand the terms Sinohash offers. Of course I would like stable operation of the equipment in a long time.

I hope we will overcome all difficulties.
You are a good partner Eric.

What is the new devices delivery in such case? Nightmare!

Eric, I've sent you an e-mail just now, but posting on here just in case. Interested and would like to proceed when you're accepting purchases again. Thanks.

All down since Today 04:17 UTC ...

Same scenario for everyone? It's 4th major disruption in last 7 days alone, but previous ones have been resolved in around 1-3 hours.

Edit: Restored at around 13:12 UTC

Eric - I'm also interested - r u accepting orders? Can I visit the facilities? I'm sending you an email.

I'll sell you my 3 - S9 I have hosted here.

Pm me your price

PM sent

How come sinohash isn't listed here:
https://bitcointalk.org/index.php?topic=622998.0 (https://bitcointalk.org/index.php?topic=622998.0)

I'm sure just because no one has presented the thread any information.  Eric could or a customer.

what price for 1? PM please

Eric,

Wanting to get into Crypto Mining / Rigs.

Wanted to check if you can host GPU based Rigs for ETH Mining ?

Not even sure why people still buy this. I haven't heard of anyone that got really reach from cloud mining. The cost are too high and that it doesn't guarantee that you'll be able to get a block even if you are at a pool. Too much cost to do it. If you want to mine, just mine yourself and join pools. Don't buy cloud mining.

Luan,

Agreed Cloud Mining does not make sense, which is why I want to buy a GPU based rig, and ship it Sinohash.

This is hosting, not cloud mining. People buy their own mining hardware or asics then have them hosted there

It seems Sinohash is sold out.

I have not heard from them, and there is no way, I can contact them.

Is anyone aware of any other Hosting facility in China, where one can host Miners / Rigs ?

All 10 of my miners have been offline for more then a week. Is anybody else having the same issue?

I have a terrible experience with sinohash. The outages were so often and in the end I was offline two weeks before able to get refund (which I was not satisfied with at all). Eric told me he had some issues with entire facility and have no space for miners. BUT I had to contact him! ( not received any info until I asked )  ... definitely a bad attitude.

I would advice anybody to stay away (until he sort things out) though his prices are uncompetitive the hosting quality is very bad.
So my experience.

I have 2 miners hosted there, they also have been offiline, no response from eric PMs

Not looking good

Looks like my miners were up until about a month ago. I've tried contacting Eric, but he's not responded to email. It also looks like his website storefront is down and he's pulled his Facebook and twitter accounts. Ah well, it was good while it lasted.

So finally Sinohash turned into a scam?

TS does't contact with everyone, i think you are right. ( Just looking for another hosting

Guys come on!

When are you going to learn?


Here is an example how one can be legit: https://bitcointalk.org/index.php?topic=2380938.msg25944737#msg25944737

I hope I am wrong and there is proof of mining/pooling/manufacturing like viaBTC and HashNest. Otherwise, my condolences...

I think you misunderstood something. This is hosting provider (not cloudmining or pool operator). I bet he is real, and has a real facilities (there is plenty of pics, also he is confirmed former member of haobtc ... but somehow unable to handle this operation well. IMO he decide to quit because is't much easier to just look after his own miners than constantly solving issues and complains of the customers.
Quite sad, I was pretty satisfied at the beginning, prepared to put in more miners but then lot of issues appeared resulting in my withdrawal.

Hi to every one. I do not understand the etichs of Eric Mu.  i have bought 12 miners, and they are mining in China somewhere and since september i should have recieved the miners or he should send BTC when Eric got the miners sold. I think Eric can sell 12 miners for much more than new when they can be delivered right away !!

i think it is fraud if he does not help his costumers.  I actually just want the minerprice from new and  compensation or not depending on selling good price or recieving miners.
i can see he is mining with more than 70 miners and recieving a good deal of btc !
Not answering we chat or mail is not an option

Mou muxialong
pls send my btc or my miners !!!!!
Erik DK

I have been asked about my experience with this service. Tad bit lengthy, but worth your read if you're considering this...

TL;DR My recommendation is to stay the hell away. It's not an outright scam, but it's not too far from being one. You can verify I was a customer of Sinohash in mid 2017 (Pg. 7 of this thread). Bought and hosted 50x S9 miners at Sinohash. Actively participated in mining-related discussion here at bitcointalk.org. For the good news, my Bitcoins sent as payment for 50x S9's were not stolen and I eventually saw all 50x active workers in my pool dashboard. But that's where the good ends.

Analysis based on limited information tells me that Eric himself, or someone working for him secretly uses his customer miners for his own benefit, and then blames downtime on technical issues or other adhere circumstances. There were countless incidents, more than 20 per month. Total uptime for 95%+ hash rate was less than 50%. And this statistic single-handedly makes it a very expensive hosting service. In retrospect, I wish I had put all those BTC into the most expensive cloud mining contract instead.

What makes me believe the downtimes were mostly not tech-related?

1. Main reason is that he did not manage to give believable explanations when asked about root causes of incidents. Other clients of his were told different reasons for outages and we found this out during our private discussions while trying to figure out "why the heck my miners are down yet again?". As Eric did not bother to communicate most of the time, we talked among each-other. Not only were we communicated different reasons as root causes for outages, but also timings and scale of the outages varied by a large margin. It's odd knowing that someone who should have his miners in the same facility is experiencing a 100% outage while I'm experiencing a 25% outage, and a third person has 50% outage.
2. If you have no electricity or internet connectivity in your facility, you naturally assume 100% outage for 100% of hash rate. Howcome each incident left operational a different number of miners, 5, 10, 25 or 40? Sometimes all 50 were down but those were quite rare. If you have no electricity, how do you keep some miners up and operational? Why do weekly worker graphs (pool statistics) look like stairs of 10 steps not 1? Or maybe he just wanted to keep some of miners operational so that I would silently swallow my frustration and think "at least I got something working so I will not complain today...". Or are my suspicions far-fetched? Is this guy doing the best he could to keep some miners operational when the electricity feed is down - i.e. with a fuel-based backup generator? Sometimes as often as 10 times a week. LOL! He never gave satisfactory answers but one time he elaborated that they "manually turned SOME miners off and RELOCATED them". Having no better option, and did not yet want to exit, I just stayed optimistic that things will improve once the "3rd facility" is up and running in "~4 weeks".

Even disregarding the previous I gave this guy benefit of the doubt and did not opt to give bad feedback immediately after my full exit (on 20.th of July, just 2 months after start). Seems like nothing has improved for customers who joined since then so this feedback as a caution is badly needed.

As a service provider, to take advantage of someone, you don't necessarily have to run away with his equipment. You can "borrow it" and if the customer complains, you just say there are problems with unstable electricity or Internet service provider. In legal terms, it's a dead end for customer. You need a proper signed contract to have a chance at any recourse. Terms outlined on a web-site can be modified at will.

Be your own judge. But if you're tempted to give Sinohash or *any* other hosted mining a try, do not blindly trust anyone because of associations with reputable companies. Do not start any service relationship without a signed contract where terms of compensation (due to excessive downtime) are clarified. I know from my own experience all this paperwork can be mere "nice to have" when seats are limited and you just want to get started ASAP!

Regards,

Apologies. I indeed misunderstood. I thought they were hosting cloud mining like HashNest. It turns out customers would have to purchase miners offsite and send them to them for hosting. So is this a scam? Are they based in China? Did they go out of business because of the Chinese regulation?