I (the “Customer“) agree with the following terms and conditions for the provision of mining services (the “Agreement“) is made on date of purchase between:
Pursuant to the terms of this Agreement, the Service Provider will rent out to the Customer certain hardware in order to provide the services described herein.
The Service Provider agrees to provide to the Customer with the output of its mining capacity (the “Services“) subject to the following terms:
Contract type: Ethereum mining
Mining Algorithm: Ethash
Term: 2 years
Mining Power: As specified by selection.
The Mining Algorithm is the type of algorithm that can be processed on the rented hardware. As of Start Date Ethash can be used to mine, among others, the Ethereum cryptocurrency.
The Mining Power is the number of hashes of the Mining Algorithm that the rented hardware can process per second. For Ethash the number also depends on a variable factor, the DAG size, thus the number of performed hashes may vary over time.
“Mining Output” (“Coins”)
A given cryptocurrency that can be mined with the above Mining Algorithm and offered by the Service Provider, and, where applicable, converted from time to time, e.g., Bitcoin, Ethereum or other cryptocurrencies.
Quality of Service
The Customer acknowledges that the Service will be rendered on a best effort basis (bestes Bemühen). The availability of the Mining Power and, accordingly, the output of Coins may vary up to a maximum of 5%. Otherwise, the Service Provider ensures that it maintains all facilities and the relevant supplies in good working order, in order to avoid any of the above volatility with the diligence that it applies in its own dealings (diligencia quam in suis).
The Customer will receive Coins mined in accordance with the above Mining Power and in accordance with applicable Maintenance Fee (as per section 2b). If (i) the expected transaction fee (needed to ensure that the network will process the transaction) divided by the value of the payout is greater than 5% or (ii) the payout is below an equivalent value of USD 1.00 the Service Provider has the option to accumulate the payouts in the Customer’s account, until the payout value is sufficiently high to meet the requirements (i) and (ii).
As a consideration for the Services the Customer agrees to pay to the Service Provider an amount of (the “Fee“):
a. 0.030409 USD per kH/s upfront
b. USD 0 per MH/s and day, deducted on a daily basis from the generated Coins, called the “Maintenance Fee”
if, on any day, Coins generated on one day do not suffice to pay the Maintenance Fee, the Service Provider may use Coins generated on any day thereafter for such payment.
Without detriment to the Service Providers obligation to render the Services on a best effort basis, only, any liability of the Service Provider hereunder and or in connection with this Agreement shall be limited to willful misconduct (Vorsatz) and gross negligence (grobe Fahrlässigkeitforce majeur , or any other material event which shall include, inter-alia, any disruption or breakdown of a cryptocurrency market, or a change of the proof-of-work mining algorithm / change to a different consensus system (such as “proof-of-stake”). The Service Provider will try on a best effort basis (bestes Bemühen) to make best possible use of the Customer rented hardware to maximize the value of Coins.
This Agreement is entered into for the term as described in Services and cannot be terminated early or canceled otherwise. The Service Provider may terminate this Agreement with immediate effect if the Coins generated in the preceding 60 days do not suffice to pay the Maintenance Fee accumulated during such period.
All communication between the Service Provider and the Customer shall be made in writing which includes email and other electronic messaging services (Textform).
The Customer agrees to the processing of its personal data provided in the context of this Agreement for the purpose described herein and also agrees, until revocation at any time to the storage of its data beyond the above Term. Should the Service Provider be required to obtain any further data in the context of providing its services hereunder, the Customer will without undue delay provide the relevant data so required by the Service Provider.
The Customer represents and warrants to the Service Provider that he is familiar with mining, cryptocurrencies (e.g. Bitcoin) and that he understands the nature and uses of mining such cryptocurrencies. The Customer acknowledges that it is solely liable for the maintenance of the relevant (i.e. its own) technical equipment (software / hardware) that is required to receive the Service.
The Service Provider does not guarantee or warrant the profitability of the Services at any time. The Customer acknowledges that it has no claim against Service Provider for any specific amounts of Coins on the basis of this Agreement and Service Provider does not guarantee or warrant any such output or any value thereof. Also, Customer acknowledges that the exchange risk of mined Coins depends on the actual price compared to any given fiat/cryptocurrency (the above called “Market Price Volatility”).
The Customer further represents and warrants that he will be the beneficial owner of the Coins.
The following provisions under this section 8 only apply to the extent the Services are paid by credit card and debit card:
The Service Provider uses third party services and such third party’s affiliates services which enable the Customer to place monetary deposits and perform transfer of payments within the website of the Service Provider by making use of the Customers existing credit / debit card (as and if available and applicable) (the “ Card Services” and the “ Card Service Provider”). The Card Services do not include any additional service, and such Card Services do not Customers account.
The Service Provider may share and transfer (including cross border transfer) personal information with the Card Service Provider for the purpose of rendering the Card Services which will be made to Service Providers website via the use of the Customers credit card or debit card. The personal information will be shared with the Card Service Provider after the Customer elects to execute such monetary payments by using the Card Services of the Card Service Provider. For the purpose of this section 8 personal information shall include information that identifies or may identify the Customer including the information submitted by the Customer through the registration form when you subscribe to the website such as the Customer’s email address, country and city and/or information provided through social websites or any other identifying information provided by the Customer while using the Services of the Service Providers website.
In addition, the Service Provider may transfer any non-personal information provided by the Customer through the Customers use of the Services on the Service Providers website to the Card Service Provider in order to allow the Card Service Provider to perform preliminary examinations of non-personal information for the purpose of determining if the Customer is qualified to use the Card Services of such Card Service Provider (including the history of the Customer’s transactions on the website which will be provided without any identifying information and solely for the purpose examinations of the Card Service Provider).
By accepting these terms, the Customer represents that any and all information the Customer provides to the Service Provider is true and accurate. Any false or fraudulent information and/or use of the Services and/or Card Services rendered to the Customer, is prohibited.
The Customer is not obligated by law to provide the Service Provider and/or the Card Service Provider with any personal information. The Customer hereby acknowledges and agrees that he is providing the Service Provider and/or the Card Service Provider with personal information at his/her own free will, for the purposes of rendering the Services and/or Card Services.
By using the Card Services the Customer hereby agrees and accepts that he will not be allowed and shall be prohibited from withdrawing any amounts that the Customer has deposited and/or is entitled to as a result of the Services rendered by the Service Provider for a period of 30 days. In case the payment by the Customer results in a charge-back or other material issues occur, the Service Provider is entitled to keep all existing, current and future Mining Output.
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