But the problem is they never told us they were in loss until now. There business model was to sell mining contracts and then giving that money back to the clients. Now when no one is buying mining contracts they are freaking bankrupt.
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They are bankrupt? I didnt see it anywhere. Mining is no more profitable as the price is low and that is not enough to pay the maintenance fee. I saw this coming months ago. If you are a cloud miner, you would have seen this coming too. Maintenance fee was taking almost all the mining rewards. Not only hashflare, any cloud mining with maintenance fee will shut down. Because the output is very low due to mining difficulty increase. Dlowly all miners will shutdown. Unless the price bounces closer to $15k, only people with free electricity will be able to survive.
Legit point