Group-buying Hosting Mode
Group-buying hosting means that users in a group distribute their net income based on the proportion of their mining machines within the group and share risks together.
• Net income refers to the income of daily mining output after deducting the cost of hosting. The cost of hosting includes
1. Mining hosting cost, including electricity costs and manual operation and maintenance costs;
2. Mining machine maintenance cost, including accessories cost and labor cost;
3. Other expenses, including the cost of shelf&off-shelf fee, transfer logistics fee,etc..
• Risk sharing means that when part of the mining machines' hashrate is lost or scrapped, the losses will be shared by the entire group,which prevents users from excessive losses.
• Exceptional case in group hosting: The number of mining machines for each group is fixed. If a user has purchased more mining machines than the remaining slots in a group, the excess mining machines will be automatically allocated to the next group.
Group-buying Mining Time
After the successful Group-buying, mining is expected to start within 7-15 days.
Group-buying may fail due to insufficient mining machines or stocks, or other factors. If group-buying fails, a full refund will be issued in approximately 30 working days. The order of refund will be based on the order time. Our customer service will contact users regarding the refund via our official email address email@example.com
• Refunds will be made in the total amount refundable in US dollars paid, in the original currency of payment at the exchange rate at the time of refund, and the user shall bear the transaction fees.
Termination of Hosting
1. Termination of Hosting Conditions
1) Platform Termination Conditions
If any of the following conditions is met, the platform has the right to terminate the hosting of the entire group and settle accounts:
a) Electricity and other hosting costs are almost the same as mining revenue for 30 consecutive days, or electricity costs are higher than 80% of mining revenue for 60 consecutive days.
b) The mining farm is unavailable for an extended period due to site, power, network or other reasons.
c) Due to force majeure or other factors, the platform believes that the hosting needs to be terminated.
2) Users Termination Conditions
When the following conditions are met, users can actively initiate a request to terminate the hosting and settle accounts:
a) More than 50% of users of in the group have submitted their request to terminate the hosting via the My Miner page.
2. The Process of Termination of Hosting
1) The platform will send a settlement notice to users via the in-site message/email and inform them with the market price of the mining machines. Users can either entrust the platform to sell them at the market price when the hosting is terminated or request to pick up these machines.
2) If the user needs to get mining machines, they will need to send a miner pick-up application email to firstname.lastname@example.org within 7 days after the platform sending the settlement notice (no application or expired application are regarded as the default authorization platform to sell the mining machine at the market price when the hosting is terminated ).In the case of the platform terminates the hosting, the user needs to pay the platform settlement service fee at 30% of the mining machine market price at the time of the hosting termination and pick up the machine by himself. In the case of the user terminates the hosting, the user needs to pay 50% of the mining machine market price at the time of the hosting termination and pick up the machine by himself.
3) Number of Available Pick up Mining Machines = Number of Remaining Operable Mining Machines in the Group * User's Share of Mining Machines in the Group
Note: The platform will discard the miner if it experiences irreparable malfunction, wear, age, or damage during the mining process. If the number of available miners is not an integer due to discarding or other reasons, the relevant operations will be conducted based on the integer part.