PB Mining Going Out of Business : "PB Mining is Currently a Failing Business"！
After seeing over a 90% drop in payouts this week, we decided to contact support at PB Mining to see if there was any explanation for this situation.
We received an automated reply that stated "pb mining is currently a failing business and a recovery is trying to be made".
It looks like PB Mining has suddenly gone out of business.
PBmining.com is still up, but new orders aren't being accepted due to inventory shortage.
The e-mail from PB Mining stated that "other options are also being looked at for sources of recovery" but no details are provided.
This reminds us of Bitcoin Trader, a Bitcoin trading service which closed its doors in the middle of October 2014. Our loss was $40 with Bitcoin Trader.
PB Mining would be the 2nd Bitcoin related service under our watch to go under this year.
PB Mining is the 1st Bitcoin cloud mining service that we have been using that closed its operations in 2014.
While it would be great if PB Mining is able to recover, we know the odds are very small.
The sudden closure of PB Mining reminds us that the cloud mining industry is still nascent and very high-risk.
When putting your money into cloud mining services and products, you should always make sure to only put amounts you can afford to lose.
This is a rule we have been following, but after seeing PB Mining go under like this (without much explanation at all), we realize once again that risk-control is very important when selecting cloud mining companies and products.
We are, however, still optimistic about the future of crypto currencies and cloud mining industry in general. Use of crypto currencies will only accelerate from here on, and the cloud mining industry will only continue to get bigger.
While some companies (like PB Mining) may go out of business over the course of industry expansion, the strongest of the services will remain and evolve, and some of them will generate great ROI for cloud mining contract owners.