Sierra Hash is a bitcoin mining company whose website is no longer accessible which means that either they have stopped operating or that their website is down for an unknown reason. The website now has links to other sites that sell products such as marijuana, and cannabis and this leaves the web archives as the only place I can source more information about the company.
Sierra Hash conducted bitcoin mining operations for less than a month based on the available information. The first records were archived on 21st November 2017 and the last records on 6th December 2017. The company’s servers were located in Reykjavik Iceland and that the latest mining technology was used in every transaction.
Sierrahash.com claimed to have a miner health status of 99.9% to ensure that their customers were able to transact at any time. From all indications, the company looks like a scam especially for claiming to have had more than 240,000 investors within a period of less than one month. To be able to transact, customers were required to make a bitcoin deposit and when this was done, free hashing power was given. The mining rigs which Sierra Hash employed have not been disclosed and this makes it impossible to tell if the alleged hash power was real or not.
From all indications, Sierra Hash looks like a scam website. It is claimed that if an investor deposited 1 bitcoin, he would receive 409,910 GH/s hash power and in return, he would earn more than 37 bitcoins annually. The 3,700% return sounds unreal as other sites report an annual gain of between 25% and 30%.
Sierrahash.com does not have any association with any of the legitimate Bitcoins mining sites. The reason for this could be because the website did not last long enough to create any effect on the market. The limited information about the equipment used in the operation, methods of mining, and the data centers make the site look suspicious as well. Looking at the information available on the website, there is no evidence of a transaction that took place when the website was online or that there is a bitcoin mining that is ongoing.
When the website was online, it had gained popularity in countries such as India, Italy, Iran, and Russia. There are reports that those who associated with Sierra Hash did so from adtbc.top, ab exchange site where they were being paid for their services. With this, people could easily be deceived that the website was popular and legitimate.
Unlike other crypto mining companies where you will be able to deposit funds through various means depending on what is most convenient for you, Sierra Hash only accepts transactions using Bitcoins. This further proves that the website cannot be trusted as any payment made using Bitcoins cannot be reversed and there will be no proof that the transactions took place. A notification had been put on the website that the loss of any Bitcoins in the course of transacting with Sierra Hash would not be a liability to the company. In short, the client will bear the loss.
I was unable to know the methods of communication that sierra Hash used when communicating with their customers as the information is unavailable in the archives. No phone number had been displayed on the website and there was no live chat as well. it seems the communication between Sierra Hash and the investors who were depositing Bitcoins on their platform was very poor and this could be the reason why everyone was caught unaware by the closure of the website.
How Does Sierra Hash Work?
Before you can access the free hashing power that is generated by the mining rigs on the website, you had to make your Bitcoins deposit on the platform. The mining rigs that were employed by Sierra Hash have not been specified which means we may never be able to know if the said hash power was real.
If you invested 1 Bitcoin for 365 days, the cost per GH/s was 0.00000246 Bitcoins and the earnings for the 365 days was 37.06281393 Bitcoins, an equivalent of 3706.281%. This means that for the 1 Bitcoin that you had invested, you would get 409910 GH/s.
The earnings that sierra Hash claimed that their customers used to earn is unrealistic. There is no legitimate crypto mining site that promises its customers an annual gain of more than 30%.
Sierra Hash only dealt with Bitcoins where the minimum deposit was 1 bitcoin. The minimum amount that one would withdraw was 2 Bitcoins.
SierraHash.com Features and Services
Sierra Hash’s website is no longer accessible and most of the links that would allow me to get more information are unavailable in the archives. Based on what is available, however, it is evident that this was a scam website that was out to take advantage of the people investing on their platform. The people who had invested earlier would be paid using the Bitcoins that would be deposited by the new clients. This was a poor way of doing business and it is not a wonder that the website could not stand the test of time.
Some of the notable features of Sierra Hash were:
- Free 150H/s upon signing up
- Absence of commission fee
- Minimum deposit was 0.001 Bitcoins
- Minimum withdrawal amount was 0.0002 Bitcoins
Sierra Hash Cost
The transaction cost at Sierra Hash was low and the reason given for this was that they were able to reduce overhead costs in all datacenters. They claimed to have had a lot of mining hardware in every datacenter which helped in reducing the cost of operations.
If you were able to refer a customer to Sierra Hash, a 10% discount was given. There was also a 16% interest that was earned from every investment and this profit was notable within 11 days. There is very limited information in the archives and this makes it impossible to know the various plans and how much they cost.
Sierra Hash charged a lower price for the services for the following reasons:
- They had reduced the overhead costs in all their datacenters that made it possible to have strong technology in one place and this is what made it possible for them to run the website at very low cost.
- There were various discounts such as the 10% referral discount that would also help to make the cost of the services lower.
Sierra Hash Reviews
There was a discussion in one of the forums where one of the members was asking if Sierra Hash was still processing payment. He seemed very angry that the website was accessible and that the payment was no longer possible. He referred to the website owners as bastards and hoped that they would never live to benefit from the money they had stolen from the people who used to transact with them.
Sierra Hash Complaint
The Real Link claims to have been lucky after transacting on the website when it was only two days old. He claims that he got back the principal amount he had invests and then plowed back the profit. He feels sorry that the people who took longer to invest were scammed. He confirms the information available in the archives that the website was less than a month old when it ceased to operate.
Bob Fred Arctor says that the website that used to host Sierra Hash is gone for good as it is now inaccessible. Though he feels sorry that things had to end this way, he is glad that the company will no longer take what does not belong to them.
Sierra Hash Review
Sierra Hash is no longer online and from every indication, it was a scam website that was bound to steal from their customers. Only those who were quick to invest immediately after the website was launched reaped from their investment as they were paid with the Bitcoins that those who were investing on later dates deposited. The website that used to host Sierra Hash has been disabled and it is sad that people lost huge investments that they had been promised to reap over 3000% interest.
Sierra Hash was a scam website that did not stand the test of time. The website only lasted for one month and instead of allowing investors to earn the over 3000% interest, they took their Bitcoins and then disabled the website.
All the reviews available are lamentations about the sad state of affair when the website became inaccessible after so many invested with them. Only one of the reviewers was able to get back what he had invested and this was because he made his deposit on the second day. Those who still wish to invest in cryptocurrency should look for other legitimate sites where you will be assured of getting great returns from your investment.