HashNest Key Account Mining Purchasing and Hosting Contract

 (Sample)

 

 

This contract constitutes the agreement between you and HashNest and the contract describes the terms for your purchase and hosting of goods and services with HashNest. References in this contract to "we", "our" or "us", are to HashNest and all services provided by HashNest and references to "you" or "your" are to the person with whom HashNest enters into this contract.

 

1. Equipment Hosting and Services

You shall place the mining equipment (“miners”) you own in the operating environment of HashNest. We will provide hosting service for your miners. The below states the details of the miners to be hosted by us:

Miners Model Name	Quantity	Power Consumption	Years of Operation

 

2. Period of Hosting

You entrust us to host your miners for _____ months, starting from DD/MM/YYYY to DD/MM/YYYY. The exact date begins from the time when the miners starts to mine.

 

3. Your Rights and Obligations

3.1. When you enlist the help of us to purchase miners from other manufacturers and entrust us to host:

3.1.1. The freight and delivery cost of the miners shall be borne by you. 

3.1.2. We may, at our discretion, pay on your behalf in advance and charge you according to the actual expenses incurred.

3.2. When you purchase miners from us and entrust us to host, you shall enjoy priority hosting space and services.

3.3. You shall bear the expenses of electricity fees, hosting service fees, repair costs and any RMA shipping fees incurred during the operations of the miners.

3.4. You guarantee that there is no objection or conflict to the ownership of the miners to be hosted by us, and is fully responsible for the finance disputes caused by the ownership of the miners.

3.5. You shall appoint a contact person-in-charge to execute this contract and notify us in time when the above information of contact person changes. You shall bear the consequences arising from any acts, negligence or omissions of your contact person, even if the person has left the company.

3.6. In addition to complying with relevant national laws, regulations and relevant regulations, you shall also abide by our relevant regulations on miners hosting.

3.7. You shall bear full responsibility for all losses or disputes arising from the leakage of your management account information and/or password.

3.8. You shall confirm the preferred mining currency and wallet address in writing or email to us. This confirmation will be attached to this contract. All mining revenue generated by your miners shall be owned by you, and the earning from the mining pool shall be directly transferred to the wallet address provided by you. We are only be responsible for the maintenance and operations of the miners, and we will not be responsible for the actual mining situation, actual income and losses caused by providing the wrong wallet address.

3.9. You may choose one of our trusted partners, AntPool, BTC.com and F2Pool for mining. We will provide a link to you so that you can monitor the earning remotely. If you need to change the mining pool or the wallet address, you must notify us via email 3 working days in advance.

 

4. Our Rights and Obligations

4.1. We provide hosting services to you which include mining site, power supply, power facilities, broadband network, security monitoring, operations and maintenance, and public relations coordination for the miners, and arrange professional technical personnel to manage and be responsible for the running and daily maintenance of the miners.

4.2. We conduct daily monitoring to ensure the smooth operations of the miners, except for the following situations:

4.2.1. If there is any physical and electrical failure of the miners.

4.2.2. If an abnormality occurs in the miners and after notifying (including your failure to respond), we are still unable to solve the problem after troubleshooting by using the operations manual.

4.2.3. Any uncontrollable events.

4.3. We shall ensure the safety of the miners during the hosting period. If the miner is lost or intentional damaged, we shall compensate you according to the depreciation price or actual damage.

4.4. When the miners becomes faulty from the mining, we will conduct an inspection and report the faults to you. You shall be responsible for contacting or you shall enlist the help of us to contact the after-sales department of the manufacturer for repair and replacement matters.

 

5. Electricity Charges and Payment Method

5.1. Electricity costs will be billed monthly. You are required to pay us a deposit that is equivalent to an estimated cost of one month electricity charges, and an estimated first month electricity bill 5 days before the contractual date of the contract. You can also choose to prepay the electricity fee for multiple months at one time. The deposit cannot be used to deduct the electricity fee under normal circumstances. It needs to be used to settle the expenses after the expiration of the contract or the termination of the contract. Any excess will be returned to you, but if there is any insufficient amount, we have the rights to claim them.

5.2. We will provide you with the details of the electricity consumption for the previous month before the 5th of every month, and send you your electricity bill statement by email. The bill statement of the previous month will be used as an estimation for the electricity costs for the current month and you must pay us the latest before the 8th of the month. If there is a balance in the electricity bill of the previous month, it will be used to deduct the current month's bill. If the prepaid amount is insufficient to pay the actual electricity bill, on top of the statement bill amount, you need to pay the additional amount by the 8th of the month. 

5.3 If the payment is overdue for more than 5 days, we reserve all rights to stop the entire operation. If the payment is overdue for more than 10 days, we reserve all rights to charge a compound late payment fee of 0.05% of the overdue fees per day. If the payment is owed for one month, it shall be deemed that you are in breach of contract with us, and shall be dealt with according to the liability for breach of contract, and we shall have the rights to sell your miners to offset the electricity fee and liquidated damages. Any excess will be returned to you, but if there is any insufficient amount, we have the rights to claim them.

5.4 Both parties hereby agree that the electricity fee is ______ per kWh, and the electricity fee will not be adjusted during the contract period. This fee includes daily operations and maintenance costs such as cable malfunction, network charges, and site fees. Unless otherwise agreed, we will no longer charge you with other daily management fees.

 

6. Other Charges and Payment Method

6.1. Maintenance fees of the miners are based on the warranty time and limitations of the miners. If the maintenance fees are not covered by warranty, you shall pay for them, the manufacturer's quotation shall prevail, and the expenses shall be borne by you.

6.2. Repair or RMA freight fees are charged according to the actual courier or logistics costs of returning the miners to manufacturer for repair and the the actual courier or logistics costs of the mining site after repair.

6.3. The aforementioned fees shall be paid by you to us on a monthly basis. We will provide you with the maintenance fees and repair freight fees bill of the previous month on the 5th of every month. You shall pay us no later than the 8th of every month.

 

7. Premature Termination of Contract

7.1. If you fulfil the contract for less than 12 months and want to terminate the contract in advance without our agreement, it shall be considered as a breach of contract. As such, you shall be liable to a liquidated damages of two months' electricity fees.

7.2. If any party has fulfilled the contract for 12 months but less than the contract stipulated period, and wants to terminate the contract in advance, they need to notify the other party 30 days in advance. After obtaining the consent of the other party and clearing all the fees, the contract is terminated and does not constitute a breach of contract.

 

8. Termination or Suspension of Contract

8.1 If we terminate the hosting service and eventually the contract due to force majeure, we will notify you in writing or email to take back the miners within 7 working days after the contract is terminated. If you need to take back the miners, we can help the coordinating machine to deliver the goods to you on the premise that you have fully settled any pending electricity fees or bills. The logistics or delivery costs incurred shall be borne by you, and we have no obligation to pay on your behalf and then charge you. After we dispatch the miners to the logistics company or courier, the risk is transferred to you and we are not liable for any loss or damage.

8.2. If we suspend operations of the miners due to site relocation, power outage or other force majeure factors, we will check the cause and resume operations as soon as possible after the suspension.

8.3. Upon the expiration of the contract, if you choose to terminate and discontinue the hosting service for any reason, you shall notify us in writing or email 30 days in advance. After the termination, you shall take back the miners within the time limit set by us on the premise that you have fully settled any pending electricity fees or bills. The logistics or delivery costs incurred shall be borne by you, and we have no obligation to pay on your behalf and then charge you. You may entrust us to transport the miners to you according to the designated address and preferred logistics mode. After we dispatch the miners to the logistics company or courier, the risk is transferred to you and we are not liable for any loss or damage.

8.4. If the PPS earning of the miners is insufficient to pay the electricity bill for a period of 10 days, you may choose to shut down and decommission the miners. You must email or notify us in writing 3 working days in advance. We can cooperate with you to shut down and decommission the miners and you are to pay the costs of decommissioning which include but not limited to storage fees, transportation costs, labor costs, etc… If the PPS earning is restored to sufficient amount, you can request to commission the miners and start mining again. You can also choose not to shut down the miners, but you need to pay the electricity fee as per normal.

8.5. After the termination, you may enlist the help of us for the sale of the miners on the premise that you have fully settled any pending electricity fees or bills. We will assist you in the handling of the miners after you agree to the sale price, which is according to the prevailing market price of the miners.

8.6. After the termination, you may also choose put the computing power (“hashrates”) of the miners into a HashNest account and sell the hashrates on HashNest Market on the premise that you have fully settled any pending electricity fees or bills and have our consent. Doing so will automatically generate a new cloud mining service contract with us after putting your hashrates into your HashNest account. The specific contract details can be found on the Shop page of HashNest’s official website. With the new cloud mining service contract, the miners ownership will be irreversibly changed; from your holding the ownership of miners to us. You will instead be leasing the hashrates from us. After putting the hashrates on HashNest, the hashrates will be locked for 60 days. You may only sell your hashrates after 60 days. We will charge the seller a 0.5% transaction fee. As you put hashrates into HashNest, the miners will still be deployed for mining, and the earning will go to your account until you have sold the hashrates. You will be subjected to an electricity fee of 0.075 US Dollar/kWh. We have the rights to select the mining pool.

 

9. Applicable Laws and Dispute Resolution

This contract shall be governed by the laws of the Republic of Seychelles. The disputes arising from the contract during the performance of the contract shall be settled through friendly negotiation. If the negotiation fails, the parties agree to submit to the Seychelles Arbitration Commission for ruling.

 

10. Disclaimer and Limitation of Liabilities

10.1. Due to the suspension of mining due to the relocation of mining site, power outage, political reasons, etc., we shall not bear the mining loss during the suspension period. During the suspension of mining, you do not need to pay any electricity fees, unless there are electricity used for mining in between this period.

10.2. You confirm that we will not bear any responsibility for any damage to the miners or loss of mining revenue caused by force majeure or third-party reasons, including but not limited to: natural disasters such as floods, volcanic eruptions, earthquakes, landslides, fires, lightning strikes, severe weather, etc.; Abnormal events such as war, strikes, turmoil, etc.; government actions such as government intervention, restrictions, bans, routine maintenance of power and communication network departments, power cuts, network disconnection, etc.; Internet disasters due to Internet communication providers such as China and the United States resulting in the server cannot be accessed normally.

10.3. While we will ensure smooth operations of the miners, if you detect abnormal signs such as malfunctioning or unusually low hashrates, you may report to us or our maintenance personnel by informing us the miners serial number. We will repair or maintain the miners as soon as possible after receiving your report. We will not bear any loss of revenue during the downtime. If the repair costs or additional maintenance costs are incurred, you shall bear the corresponding costs.

10.4. We will maintain the miners by complying to the relevant after-sales service terms of the miners’s manufacturer, and we do not assume the after-sales warranty or responsibility in this agreement.

10.5. If we fail to perform or execute this contract in whole or in part due to force majeure events or delays the performance of this contract, neither party shall be liable, but both parties shall take active measures to reduce losses.

10.6 Risk warning:

10.6.1 As with any asset, the value of the digital currency may fluctuate and there is a huge risk that it may result in losses after the investment. By signing this contract, you confirm and agree that:

10.6.1.1. There is a legal risk in the use of digital currency. Since the current legal supervision of digital currency is not mature, its value may not be protected by law/regulation, and its actions may be terminated as violations of laws or policies;

10.6.1.2. The value of any miners, any amount of any digital currency may be affected by many factors not controlled by the us. These factors include, but are not limited to, mining difficulty and/or changes in other mining parameters/attributes, market price fluctuations in digital currencies (legal currency versus digital currency exchange rates), hardware obsolescence and hardware amortisation;

10.6.1.3. Due to the nature of the digital currency, the value of any digital currency holder and any number of any digital currency may lose some or all of its value at any time; for all due to the reduced (or even zero) value of the digital currency The loss is at your own risk and the we do not accept any responsibility for such risks or adverse consequences.

 

11. Miscellaneous

11.1. Any modification of this contract shall be updated and signed by both parties, other methods shall be deemed invalid.

11.2. This contract can be signed by means of a network scan. The scanned copy and original have the same legal effect.

11.3. This contract shall take effect from the date of signing and sealing by both parties.

11.4. This contract is made in two copies, each with the same legal effect.

 

 

The Signatories below acknowledge that they have received the entire HashNest Key Account Mining Purchasing and Hosting Contract, including all assurances and appendices/addendums which may apply and that the Signatories commit to all provisions and requirements as outlined in the contract.

 

 

 

____________________                                                   __________________________

Signed by Client                                                            Rob 

Title                                                                                CEO                 

Company                                                                       HashNest Inc  

Date                                                                               Date