Those of you aware of cloud mining would know that one of the best websites for it is https://hashflare.io/ . While, Genesis-mining is widely accepted as the most reliable website for cloud mining, it is currently out of contracts for bitcoin mining, which has resulted in an increase in demand of contracts on Hashflare.
Just until a few hours ago, 1 TH/s costed $150 on hashflare, but they just increased the unit rate of 1 TH/s to $220 now. This is a significant change and a setback for those who were looking to buy hashpower. Just a week ago, you could have got return of investment in 2 months, and then made profit for the remaining 10 months of the year. Now, it will take approximately 4 months for return of investment. Kind of a bummer, right?
Cloud mining is a risky investment, anyways. My advice to all is to do proper research and keep in mind that all these mining websites can change the terms of contract at anytime. I will give you an example; the initial investors in hashflare had lifetime contracts, but in August these terms were revised and the duration of contract was reduced from lifetime to just 1 year. This was a big shock to Hashflare users, and I personally know people who withdrew their coins from the website as they feared that this was an exit scam.
I am interested in knowing your opinion about this unannounced increase in hashpower rate, and what could possibly have prompted this change?