Terms of Use

THE MINERS RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO AMEND, CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS OF SERVICE, AT ANY TIME. IT IS YOUR RESPONSIBILITY TO CHECK THESE TERMS PERIODICALLY FOR CHANGES. THE CURRENT VERSION OF THESE TERMS IS AVAILABLE AT HTTPS://THEMINERS.CO/TERMS. YOUR CONTINUED USE OF THE WEBSITE AND/OR THE SERVICE FOLLOWING THE PUBLISHED UPDATES TO THE TERMS WILL MEAN THAT YOU ACCEPT AND AGREE TO THE CHANGES. AS LONG AS YOU AGREE AND COMPLY WITH THESE TERMS, THE MINERS GRANTS YOU A PERSONAL, NON-EXCLUSIVE, NON-TRANSFERABLE, LIMITED PRIVILEGE TO ENTER AND USE THE WEBSITE AND THE SERVICE.
 
This is an agreement (referred to as "Terms") between THE MINERS (also referred to in these Terms as “the miners",, "we", "us" or "our") and you (also referred to in these Terms as "Customer", "you", "your"), the person accessing and using the theminers.co cloud mining service and accepting these Terms.
 
1. What is THE MINERS??
 
The miners is a Cryptocurrency cloud mining service that offers an easy and safe way to purchase hashpower without having to deal with complex hardware and software setup. We offer hosted cryptocurrency mining services and a variety of mining related solutions to small and large scale customers.
 
Our team of mining experts with extensive knowledge of the digital currency sector specializes in building the most efficient and reliable mining facilities.
 
2. How does bitcoin mining work with The miners?
 
It’s quick and very easy! As soon as we receive your payment your contract will be added to your profile, and you can immediately start mining. Depending on your contract, you can either mine Bitcoin, DASH, LTC, Bitcoin Cash or Ethereum directly. 
 
Remark: 
Every day of mining will be processed and paid in the following 24 hours after the mining day is over.
Please refer to section “When do I get my payout?” for more details.
 
3. What is the mining performance? Why are you not mining yourself?
 
Besides the fact that we ourselves mine with the very same hardware that we offer to our clients, our capital is limited. We believe that Bitcoin and Altcoin mining is one of the best way to receive Cryptocurrencies, however, we do not want to “put all our eggs in one basket”.
 
4. Where is your mining farm located?
 
For security reasons, we do not disclose the exact location of our mining farms. As of  Jan 2017, we are operating several mining farms that are located in Europe, America and Asia. Electricity cost and availability of cooling are important, but not the only criteria.
 
HOME MINING VS CLOUD MINING
 
 
HOME MINING
CLOUD MINING
TRANSPORTATION COST
Freight and/or taxes
Real-time mining on purchase
Week-long shipping period before deployment
 
Accessories
YOU need to prepare PSU, internet cable, ventilator, shaft etc.
Cloud mining operators provide them
 
Software
Time-consuming to learn how to set mining software especially for a newbie
Cloud mining operators provide them
 
 
Maintenance
Mining time and bitcoin loss when your hardware goes wrong and stays unstable
Professional maintenance with ZERO downtime
 
Electricity Cost
 
Sizable electricity cost accompanied by heat and noise if you mine at home
Extremely low cost with large-scale deployment
 
5. What coins can I mine with each algorithm?
 
You are able to mine Bitcoin and various altcoins directly via our mining allocation page. The availability of Cryptocurrencies you can mine depends on the contract you have chosen.
you can mine BITCOIN, LITECOIN, ETHERIUM, BITCOIN CASH AND DASHCOIN.
 
6. What are the expected returns?
 
Bitcoin and altcoin mining depends highly on the prices and network difficulties of the Cryptocurrencies that you are mining, which cannot be predicted. It would not “look right” if we provide data on the mining performance and selling contracts at the same time. Therefore, we recommend all our clients to do their own research and do their own performance calculation.
 
Remember that some of our products have a daily maintenance fee which must be deducted from the daily earnings.
 
7. What is the maintenance fee?
 
We provide a platform which enables individuals to mine cryptocurrencies using our Mining Hardware. In return, we charge periodic maintenance and electricity fees ("Fees") that are devised from the usage of electricity as well as the cost of maintenance of the said hardware.
 
The maintenance fee covers all costs related to mining including,
  • electricity cost
  • cooling
  • maintenance work
  • hosting services
 
The miners reserves the right to change the fees at any time without prior notice.
NOTE : - Fees are non-refundable.
 
8. What does “Open-Ended” contract mean?
 
The specific duration of an Open-Ended contract is variable and determined by three factors: The mining difficulty, the Bitcoin vs USD exchange rates and the maintenance fee (This includes all electricity, cooling, development and servicing costs). We cannot control the first two factors which are unpredictable, but we do always deploy the latest mining technology, and do our best to keep it running at their maximum capability for you.
In the event of a contract becoming unprofitable (i.e. the payout can’t cover the maintenance fee), the resulting daily payout will be zero. After that, the contract will continue to mine for 60 days. This means that we will take care of the maintenance fee in the hope that your contract becomes profitable again. This may happen if the mining network difficulty decreases and/or Bitcoin price increases. If the contract does not return to profitability in this period it will be terminated because the mining machines are consuming resources (electricity, cooling, hosting, servicing, etc.) which cannot be paid with their generated payouts. You will receive a notification if your contract is affected.
You will receive a notification if your contract is affected.
 
9. How frequently will I receive my payouts?
 
Payouts are generated daily, but you will receive your payouts only once they have accumulated to a certain quantity. For example, as to July 2018, the minimum payout for BTC is 0.002 BTC. This minimum payouts are set in order to avoid that customers pay excessive fees for receiving small payouts in their wallets.
 
10. How can I reach you if I have further questions?
 
Customer service is our highest priority! We know how important it is for a potential investor to find answers to their questions. Making decisions is not only about having the good feeling, but also about understanding the business concept in detail. Therefore, please contact us any time at support@theminers.co   if you need any help. We are looking forward to hearing from you.
 
11. How do I add my payout addresses to my The miners profile?
 
In the menu “My Account” select “Settings” and then “Wallets”. Here you can set payout addresses for each type of coin. The links in “blue” will help you find a suitable wallet for your coin of choice.
 
NOTE :- Remember that you have to add a wallet for each coin selected in the “Mining Allocation” section.
 
12. When do I get my payout?
 
The miners provides daily payouts of all mined coins!
-A mining day usually starts at 00:00 UTC and ends at 23:59:59 UTC. If you just bought a contract the start time could be different and you will only mine for a fraction of that day.
-At the end of the 24 hours mining day we will do some additional calculations and double checks to ensure everything is correct.
-Please ensure that you provide a payout address for each coin you mine, otherwise we cannot make the payout!
-It can take up to 48 hours to receive the first payout once you have purchased a contract. If you did not get any payouts from us within 48 hours, please contact our customer service team at support@theminers.co
-You can check your general payouts in the menu under “Payouts”.
 
13. Which pools are you using for mining?
 
We do not publish a list of pools we are using. Our main criteria for a good pool are: reliability, fee structure and reject rate. Going forward we will solo-mine a few coins (and pass the fee savings to our users!).
Our internal policy is: “be a good crypto citizen”. This means, that we will at least use two different pools (in some cases we use up to four) for each coin. This is to preserve the decentralized nature of the crypto networks! If we become aware that a pool is getting close to 50% share, we will switch away from it and use a backup instead.
 
14. What is meaning of…???
 
Mining Hardware - Is a computer hardware owned by the miners that is used to provide the Service and to mine Cryptocurrencies.
 
Hash rate - is a mining power of the Mining Hardware used to mine Cryptocurrencies. Hashrate is mining algorithm specific (SHA-256, Scrypt, X11 etc)
 
Cloud Machine - is a processing power of the Service purchased by a Miner and administered by a Miner using the Website
 
Contract - is a access to a Cloud Machine of specific Hash rate.
 
Contract Term - is a period of time for which a Miner has agreed to pay to administer a Cloud Machine, by default, The miners provides stated time period of Contracts.
 
Referral Code - is an alphanumerical sequence (at least 6 characters long) that is linked to a Customer's Account.
 
Referral Link - is the URL with a Referral Code, that allows a new Customer to register with the miners.
 
By applying to register as a Miner you are confirming that you understand and accept (and are able to understand and accept) these terms of service and that you agree that you will be bound by them. You should regularly check the Website for changes to the terms of service, instructions, guidance and similar information found on the Website.
 
You may only apply to register as a Miner if:
- you are 18 years old or over
- it is lawful for you to do so.
- To register as a Miner, we may require you to provide us with identification or other documentation in order to help us prevent fraud or money laundering. This may include photographic identification and a recent proof of address. We may also undertake our own identity, fraud and credit checks.
 
15. RISK NOTICE
 
 Actions with Cryptocurrencies carry inherent risks. Due to the fact that Cryptocurrencies are unregulated and decentralized, their value is not insured by any legal entities. The value of any Contract, any amount of any Cryptocurrency is subject to change by The miners due to a number of factors out of The miners’ control. These factors include but are not limited to changes of mining difficulty and/or other mining parameters/properties, fluctuating price (in fiat currency to Cryptocurrency exchange rate, such as USD/BTC) of Cryptocurrencies, obsolescence of hardware and amortization of hardware. You understand and agree that the worth of any Contact and any amount of mined Cryptocurrency may lose all worth at any moment of time due to the nature of Cryptocurrencies. You understand that you are solely responsible for management of the Cryptocurrencies in your balance as well as any losses or charges incurred by any third-party entity.
- Any information related to Cryptocurrency and Cryptocurrency mining that is/was posted, published and/or provided by the miners via any channel of communication (including but not limited to: on the Website, in the Panel, via the Support Service, via Email newsletter, in social media) is subject to change.
 
- You must not mine, buy, sell, exchange, hold, own or otherwise use or exploit Cryptocurrencies in any way which is prohibited by the laws or regulations which apply to you.
 
- Cryptocurrencies may not be appropriate for everyone. Before mining any Cryptocurrencies you should learn about them to ensure that they are appropriate for you. Like all currencies, there are disadvantages to using Cryptocurrencies. Some of the risks particular to Cryptocurrencies include:
 
- currency fluctuation - the price of Bitcoin and/or any other Cryptocurrency may fall sharply and may even fall to zero;
- transactions with Cryptocurrencies may be unconfirmed for a period of time. Although very unlikely, some Cryptocurrency transactions may never be confirmed - Cryptocurrency transactions which are unconfirmed are not completed;
- transactions with Cryptocurrencies are irreversible - if you send any amount of any Cryptocurrency to the wrong person, you may be unable to recover those funds;
- Cryptocurrencies may be lost if you lose or forget any PINs or passwords necessary to access and spend those Cryptocurrencies;
- unknown technical defects inherent in Cryptocurrencies; and
- new regulation which impacts the use of Cryptocurrencies.
- By agreeing to these terms of service or by mining Cryptocurrencies by using the Service, you are indicating that you understand, are capable of understanding and accept the risks associated with Cryptocurrencies.
- By applying to register, you are making an offer to enter an agreement on these terms of service. Once submitted, you may not withdraw your offer.
- Only we can decide whether applications will be accepted. If your application is accepted, a legal and enforceable agreement will be entered between you and us. Subject to any statutory rights you may have, you may not cancel the agreement covered by these terms of service and you will not be eligible for any refund.
 
16. How can I pay?
 
We currently accept the following payment methods:
BITCOIN & ETHERIUM