Sierrahash was a cloud mining operation that offers their service at a very low price. Their promise was to provide a high yield investment program with at least a 16% return of income every day. Our research revealed that the server of Sierra hash was located in Iceland. They started operation sometime in 2017 and was closed down on the same year.
SierraHash works by offering its customers the latest and greatest cloud platform for mining during its operation. They offer free hash power to their new customers but the trick is, the new customer must make an account with Sierra Hash first and deposit their Bitcoin. Sierra Hash claimed that they can give up to 409,910 GH/s of hash power for every 1 BTC that a customer will deposit. This 1 BTC can earn up to 37 Bitcoins in a year or at least 3,700% ROI. This was extremely higher as compared to other mining sites that offer up to 30% of ROI only.
With SierraHash being inactive, some of the information on their website is no longer available. Some of the links they have are not available on the web archive such as their FAQ page and support page. We tried to search for the software they used for mining but apparently, they just gave a vague claim that they are using the ‘greatest and latest Bitcoin mining technology’. We tried to check from third-party review websites and they are saying the same about Sierrahash, the mining operator was not able to provide the specific mining software they were using.
Based on the saved information on the web archive, SierraHash had 264786 users within the 21 days that its server was up. The cryptocurrency they served was Bitcoin.
With Sierrahash, there seems to be no restriction as who can enroll and invest in their mining operation. They even had a referral program that allows users to refer a friend and earn more bitcoins in the process. To make it work, you should deposit at least 0.001 BTC to 25 BTC into their account before you can start mining with a return of investment between 10.154% and 16%. As promised, once you deposited a BTC on their platform, you will receive hashing power from the site’s mining rigs. In short, before you can start mining with Sierrahash, you need to do the following steps:
- Create an account with Sierrahash
- Deposit your BTC to their platform or fund your account with at least 0.001 BTC to 25 BTC
- Receiving a hashing power
- Wait for the return of your investment (ROI)
- Withdraw fund from your account
Since the website of Sierrahash is no longer active, we are unable to find information regarding the languages they supported during their run. We are unable to find information as well whether you can use any device with Sierrahash or you just need a PC to run it.
To contact Sierra Hash, we found their telephone number and it was listed as 44 187 537 295. They also had an email at [email protected]h.com. Their registered address during their operation was 44 Hay’s Mew, Mayfair, W1J 5QD, London, GB.
According to most third-party reviews, we found about Sierrahash, this website was up for 21 days and this could be the reason why it has limited information on the web archive. Most of their pages and links like pricing, FAQ, and Support are inaccessible and are not archived.
How Does Sierrahash Work?
Sierrahash works like a Ponzi investment. To fund their own investment, they enticed their customers of high return of investment even with a very small amount of investment. In addition to their large earning, customers were offered free hashing power. To make their service more enticing to potential customers and investors, Sierrahash.com the following:
- 150 GH/s mining hashpower offered
- A commission system of up to 10% for every successful referral
- A return of investment of up to 16% on a daily basis
- A return of investment within 8 to 11 days
For a minimal investment of 0.001 BTC, anyone can start enjoying their mining hashpower from this website. With a 99.99% uptime rate daily, who wouldn’t get enticed? A sample earning calculator from Sierrahash showed that with a 1 BTC investment, you can earn up to 37 BTC in a year. During their run, they only supported Bitcoin cryptocurrencies.
We searched for ways to withdraw money from Sierra Hash but we are unable to retrieve the said information. With the website being up for three weeks, it looks like no one was able to withdraw any of the funds they invested to this website. Based on the information we found, customers of Sierrahash were unable to withdraw funds from their website since the 6 of December. To sum it up, the website run from November 16 to December 6 only – a total of 21 days indeed.
Sierrahash Features and Services
The service offered by Sierrahash were mining power and high return of investment. If you want to earn and multiply your BTC holdings, Sierrahash offered the best way to do it in just 11 days. On their website, they also offered commissions and referral bonuses and as other crypto analysts have pointed out, a legit mining website will focus on explaining their platform and program, not on referral and bonuses.
There is no plan offered or package offered by Sierrahash. Their main goal is to entice customers to invest Bitcoin even for as low as 0.001 BTC. The maximum BTC that a customer can invest was 25 BTC. They only accepted BTC and no other currencies.
When searching for Sierrahash.com, most of the information we found says that this was a scam website. In fact, some third-party reviews call it the greatest BTC scam in the shortest period possible. I21 days, it scammed more than 2 million users.
To further check the status of Sierra Hash as a mining website, we searched for individual customer reviews and found out that they have an overall rating of 3.
On the first few days of Sierrahash.com, it looks like they tried hard to win the favors of their customers. Anayolijs gave them a 5-star rating saying that it worked well for him. John Loui Puerto also claimed that it was a legit mining website for the cryptocurrency, Bitcoin. He said he received his payout.
After announcing on December 6 that they will no longer be able to make payments, 21 days after they started operation, Gary Singh wrote about it and shared it online. He gave the website a rating of 1 out of 5 because of their sudden decision to stop paying out.
Greggo also called Sierrahash a scam because they are no longer making payments to their customers and investors while Kelvin also shared the same sentiment and gave it another 1. He said he received an error when trying to make a withdrawal and his emails were left unanswered.
Fortunately, the third-party reviews for this website are true – it was a scam and it is the fastest and biggest scam in the crypto world last year. Apparently, their offered features were too good to be true especially the very high yield of income. It also appeared that this website only wanted to draw blood from its investors and once they accumulated all the BTC they need, they suddenly went off the grid.
Sierrahash was a bitcoin mining company that offered a high return on investment for a very small amount of bitcoin. As shown in a Ponzi scheme, they will ask customers to invest, they will offer big income, they will give some high ROI in the first few days then once the customer started believing and investing more, they will suddenly disappear.
Based on the information we gathered about Sierra Hash, here are some of the things that you need to consider when investing in a mining or cryptocurrency:
- Deposit only to websites with a transparent report about their operation (software used, crypto hardware information)
- Verify the information on the website
- Check their features and promises, a regular mining operation can offer up to 30% gains in real life, if you find a site offering up to 5% ROI, you are at risk of being scammed
- If they are promising such a high active hash power like 99.99% uptime, check their data center, verify if it is existing
- If the website focuses more on referral and giving commissions rather than explaining how their system works
- If they are providing information such as a specific name of a software they are using and not just vague information that says ‘we are using the best and latest technology’ – that sounds very unconvincing
This information is among the things that Sierra Hash used to lure investors into trusting them. Unfortunately, nothing of their promise was true and when they got enough BTC, they closed down and perhaps opened another website that offers the same.