Full disclosure. I have 2 contracts with Hashing24. Both 10 TH/s, starting from mid and end of August.
To be honest, when BTC fell to 3k levels, I honestly thought this was it. It was going to take forever as the management fees eat through a chunk of the daily income. Fortunately, it held together, generating at it’s lowest, about 150k sats per contract.
Honestly, I wouldn’t get another contract from any of the mining sites. While there is some small advantage if the price of BTC drops, the contract needs to be at a sufficient hashing power to offset the management fees to make it worth something. Once the fees continuously eat through the daily income, the only ending you have is termination of the contract.
As of now, the first contract would still need to mine 0.43 BTC for it to equal the amount of BTC I would have had if I bought the coins directly at the time I started the contract.
With the adjusted difficulty etc now, after fees, daily is about 170k sats. Put simply, it will take a very long time but as long as the price of BTC doesn’t dive far below 3k USD, it will continue to generate something for as long as the company exists.
Unfortunately, hashing24 now no longer does lifetime contracts and have switched to a fixed term one instead. I guess in that sense, I’m quite lucky. But being one of the more expensive cloud mining services to begin with, I really do not think it would be wise to buy into it especially since the new contract expires.