Bearish Bitcoin Forces Genesis Mining to Terminate Low-Tier Contracts

Due to the prolonging bearish trend and constantly rising mining difficulty, Genesis Mining, a reputed cloud mining platform, had to prematurely cancel a portion of contracts that are no longer profitable. This announcement came just a month after its major rival HashFlare started dropping customers due to the lack of earnings.   

Now, the unfortunate Genesis Mining clients have two options: either to pay for a non-terminable five-year subscription, or…find another cloud mining service. The Reykjavik-based company also offers its users an incentive, lowering the price of one TerraHash (1/TH) of mining power to just $180.