It is a project driven by a Bitcoin Mining Farm. Here you can borrow our hashing power to mine for Bitcoins. You can mine Bitcoins without having to setting up your mining rig. All you have to do is join and send some Bitcoins to start. Once your account is active, miners will keep working for you until you will be fully rewarded. A referral system is used to increase total system hashrate and revenues.
How does it work?
Join (better through referral)
Deposit any amount of Bitcoins to the provided address
Optionally invite people to join through referral to increase your rewards
Wait and profit.
Is it a pyramid scheme?
Not really. Rewards come entirely from Bitcoin mining, not by referral joining. The referral system is made only to increase your income and to increase hash rate by having more members. You can join without a referral and don't invite anybody: you will earn only 5% but you still earn. Read the F.A.Q. for more details.
Advantages
Even at lower bonus rates, it is still profitable for several reasons: