Cex.Io Out Of The Mining Game As Difficulty Surges And Prices Drop

[srgkrgkj]

Cex.io one of the first major cloudmining operators has just annouinced that it will be temporarily shutting down its cloudmining services to the public. It has also been added that the trading exchange platform launched by the same company will remain in play unaffected by the closure.

Source :


http://www.btcfeed.net/uncategorized/cex-io-out-of-the-mining-game-as-difficulty-surges-and-prices-drop/

[Reynaldo]

Its really unfortunate but they should move their centers where they can gather cheaper electricity.. their price is/was insane anyway.

[cloverme]

My guess is that they didn't keep up with the ASIC upgrades over the past year. They probably got caught flatfooted with high power requirements and low hashing hardware. I think some other farms followed suit, there was a large drop in network hashrate the other day.  If this follows suit, it wouldn't be that terrible for the oversupply of BTC to dry up a little bit.

[guitarplinker]

My guess is that they didn't keep up with the ASIC upgrades over the past year. They probably got caught flatfooted with high power requirements and low hashing hardware. I think some other farms followed suit, there was a large drop in network hashrate the other day.

That's exactly what I'm thinking. On their site they have a program where you can trade your GH/s for real hardware. The hardware listed for the program looks really inefficient, and looks like they've that equipment for over a year now.

[ajw7989]

Hopefully they are shutting down all the equipment and we wont have greater than a 3-5% incr in difficulty in 10 days or so

[xstr8guy]

If this is indeed true, shouldn't they be shutting down over 40PHs of mining hardware?

[Paul Revere]

If this is indeed true, shouldn't they be shutting down over 40PHs of mining hardware?

An unknown amount of that 40 PHs is private miners.

[baristor]

had to happen sooner or later, Their chat etc was always spammed with people whining abt neg balance and they poor mantainance ponzi style earning system, no upgrade gear, n high fees.

Now hopefully difficulty shld decrease?