Nice design of my hash service class
Overall, its nice code.  Easy to read and good use of white space.

I would move the creating of the HashService to a Factory class though.  The way you are using it, I don't think it belongs in the class.

public class HashServiceFactory
{
    public Create(HashAlgorithm algorithm)
    {
        return new HashService(algorithm);
    }
}

// Usage

var factory = new HashServiceFactory();

var sha256Managed = factory.Create(new SHA256Managed());
var md5CryptoServiceProvider = factory.Create(new MD5CryptoServiceProvider());