cloudmining.solutions
Terms & Conditions for the Provision of cloud mining services
These Terms and Conditions regulate the provision of services sold by cloudmining.solutions to the purchaser of services as offered on this website. We provide services exclusively on the basis of these terms and conditions and do not accept any deviating or conflicting agreements or terms and conditions unless these have been expressly agreed.
When purchasing any offer available on cloudmining.solutions, we provide computing power for your crypto mining for the period described in the offer at the specified hashrate. The crypto miner (ASIC) uses the computing algorithm (mining algorithm) specified in the offer. If the mining algorithm is specified as SHA-256, this refers to the newer version of this mining algorithm: SHA-256 Asicboost.
The offers by cloudmining.solutions relate to the provision of computing power with the algorithm specified in the offer to the purchaser, whereas this service is limited for the time specified in the offer (Infrastracture as a Service). This service is also referred to as cloudmining. It means that the purchaser buys a certain amount of ‘computing power’ (as specified in the offer and measured in TH/s or PH/s) for his crypto mining purposes, which cloudmining.solutions then makes available to the buyer for the agreed period of time.
The buyer has to send his mining pool data after every purchase with the form provided on the website or via e-mail in order to enable cloudmining.solutions to provide and direct the agreed hashpower for the duration of the contract to the mining pool of the buyers choice.
The hashpower is always provided for the mining algorithm described in the offers (SHA-256 Asicboost). Therefore, only coins or tokens that use this algorithm can be mined. The buyer has to take care whether the cryptocurrency he has chosen can be mined using this algorithm.
Should the buyer intend to mine in a very small crypto mining pool and/or wants to mine rather unknown coins, it is possible that the agreed hashrate cannot be provided at the agreed hashrate due to problems with the mining pool. cloudmining.solutions will notify the purchaser if this will likely happen before mining takes place if possible. In such cases, cloudmining.solutions will grant the purchaser the right to withdraw from the contract (in addition to other statutory rights if available) if the provision of the service has not yet begun, i.e. the miner has not yet been started. If aforementioned problems only occur after mining process has started, cloudmining.solutions will inform the purchaser without undue delay and, if necessary, advise to change the pool unless the buyer approves of the existing disadvantages and detrimental influences of conditions for the hashrate provided.
cloudmining.solutions preserves the right to withdraw from any contract if the mining pool data is not provided within reasonable time after the purchase took place and/or if the mining pool chosen by the purchaser will negatively affect the ability to provide the hashrate agreed between the parties and defined in the relevant offer. This includes, but is not limited to mining pools which are known to report hashrates below the hashrates reported by the ASICs and/or other comparable mining pools.
By purchasing this offer, you do not acquire ASIC miners, but only the possibility of using them in such a way that one or more ASIC mining devices for the pool(s) selected by you provide the hashrate specified in the offer for the period offered (e.g. 48 hours, 5 days, 1 week, etc.) and mine cryptocurrencies for you using a specific mining algorithm and mining pool. There is no actual physical handover or provision of mining devices to you, not even temporarily. You cannot (and do not have to) make any changes to the miners' system settings yourself. We always enter pool data for you ourselves. This also avoids ‘operating errors’.
As the mining pool data is specified by the purchaser at all times, all earnings from the mining process are transferred immediately and directly to the wallets or the mining-pool-account of the purchaser. cloudmining.solutions does not come into any contact whatsoever with the mining-proceeds generated, not even as a trustee or according to similar legal constructions. It is sole responsibility and duty of the purchaser to provide wallet addresses and pool data which he can fully access and where he has all passwords necessary to access them. cloudmining.solutions is not responsible for any loss of the miner resulting from providing wrong and/or mispelled mining pool data or wallet addresses.
cloudmining.solutions will usually notify the purchaser once the mining process has started. Purchaser is responsible to monitor and ascertain that the provided hashpower is reaching the mining pool of his choice and showing a hashrate comparable to the hashrate specified in the relevant offer.
cloudmining.solutions will monitor and document the hashpower provided to the buyer as generated using the ASICs and send to the mining pool. Buyer has the obligation to monitor the hashrate as reported by the mining pool, especially in the case that the pool of choice and the reported hashrate of the pool cannot be publicly watched. Buyer has the obligation to contact cloudmining.solutions if a mining pool reports a significant and/or complete loss of hashrate over a period of more than 10 minutes.
As a means to reduce the possibility of losses due to mining pool failures, the buyer shall provide two different mining data for two different mining pools so that any failures of individual pools (for which cloudmining.solutions is not responsible) do not affect the mininig results of the buyer.
It is normally not possible for the buyer to switch mining pools during the durationof any cloudmining contract, as long as pool data has been transmitted and is working properly. This means that - unless agreed by cloudmining.solutions - the purchaser cannot switch back and forth between different pools during mining. If the buyer intends to change mining pools to be changed, he shall select a mining pool where this is possible via the user interface of the mining pool to do so (e.g. viabtc.com). This pool also has the advantage that the user can switch between PPS mining, PPLNS and solo mining.
cloudmining.solutions cannot influence whether and to what extent the mining process of buyer is successful or profitable; the ASIC miners and the infrastructure provided only carry out computational work within the agreed hashing power and duration. cloudmining.solutions does not predict or warrant whether or how many ‘blocks’ may be found during mining or how much revenue will be generated by mining. The buyer has to dohis own ‘due diligence’ before purchasing any offer and starting the mining process. cloudmining.solutions does not assume any liability or guarantee for the success or a specific yield or return of investment of any mining process. cloudmining.solutions only ensures that the mining pool data is entered into the respective ASIC-Miners and that they work within the provided infrastructure for the client. If, contrary to expectations, the purchased hashrate is not achieved, cloudmining.solutions will, at its discretion, either extend the duration of the cloudmining or refund the price on a pro rata basis (measured by the hashrate achieved for the entire period in relation to the purchased hashrate). For this purpose, the hashrate for the duration of the cloudmining shall be decisive as measured for each miner used on the basis their data transmitted and documented to determine performance, not as the hashrate measured by pools, as these may deviate).
Once the buyer has send the data of his mining pool, cloudmining.solutions will usually provide the purchased service without undue delay and the mining process will start for the purchaser. By sending the pool data, the buyer is therefore requesting that the provision of the purchased services (provision of computing power for crypto mining) should begin, even if this is during a statutory cancellation period.
If the buyer has requested that the services should commence during the cancellation period (see below on the cancellation policy for consumers), the buyer has to pay a reasonable amount corresponding to the proportion of the services already provided by the time he may inform of the exercise of any right of cancellation with regard to this contract compared to the total scope of the services provided for in the contract.