Bitcoin is an internet payment network and also the cryptocurrency used in this network. The main uniqueness of bitcoin is its full decentralization; it is designed so that no one, not the author or other individuals, groups or governments, can influence the currency, counterfeit it, seize accounts, control the money flow or cause inflation. There is no central point in the network, nor is there anyone who can make decisions about the network. The final amount of bitcoins is known in advance and the release of bitcoins into circulation is defined in the protocol source code.
Frequently Ask Questions
Getting started
What is bitcoin
What is mining pool?
Mining pool is one of the groundbreaking inventions in the world of cryptocurrencies. By using a sharing system where each miner gets a share based on how much they have contributed to the mining. This has dramatically increased the efficiency of mining. Each pool is essentially a network managed by an admin or company and together they form one big supercomputer. This then ensures that rewards are paid out regularly. The mining on the pool is fairly distributed according to the exact performance provided.
Does the cryptocurrency exchange rate affect the price of mining machine
Yes. The prices of machines are always valid for a maximum of 24h and we can only guarantee their price once the amount is credited to our account. Therefore, the price correlates with the development of the BTC price and in the order of tens of thousands of crowns.
What is Bitcoin Mining
It is the process of verifying transactions and adding them to the so-called "block chain". It is an expensive and computationally intensive process. By providing computing power, you earn cryptocurrency without having to put money into it.
What information do we need to create contract?
First and last name, date of birth, place of residence and email, crypto wallet number.
Purchase of machinery
What are the terms of cooperation?
We are a crypto mining company. Any legal or natural person can participate in crypto mining thanks to our simple business model. You just need to choose from the offer on our website, in the section of machines offer. The amount of investment is always a minimum of one machine. After signing the "Machine Supply Contract" and paying the deposit, we order the machine and deliver it to the hosting site. This is followed by signing the "Machine Management Agreement" and connecting the machine to the pool. At the same time, we send login details to our software where you can monitor and manage your machine portfolio. The mining goes to your wallet automatically, straight from the pool.
How soon after payment is the machine delivered and connected?
It depends on what machine you are buying. Sometimes the machine offered is already in hosting. Its price is higher than the price of the machines in stock at the manufacturer, but the connection is immediate upon receipt of payment. However, the average delivery time is within 30 days after payment. Everything always depends on the manufacturer and the carrier. For this reason, we are unable to guarantee deadlines. As a rule, however, the wiring time is faster than the mentioned 30 days.
What information do we need to order for machines?
We will need: First and last name, date of birth, place of residence and email, crypto wallet number to which we will send your earnings.
How is the mining paid out?
The payout of the harvest is done automatically to a wallet chosen by the client. The client can change this wallet at any time in the Hs Upstream Bitcoin Network software. For security reasons, we do not keep the mining on our wallets, but send it directly from the pool to the clients.
Is the energy price fixed?
Yes, it is fixed for 1 year from the time of engagement. We usually submit a bid for the next year within 2 months before the current contract expires.
What does the size of the royalty depend on?
Crypt mining offers no guarantees. Profit is based on the price of Bitcoin, the price of energy and, most importantly, the difficulty of mining. It is a very risky type of business. We, as a mining company, take the following approach to the current price. As long as you hold the crypto and don't exchange, you don't realize a foreign exchange loss/gain. Most of our clients are mining and holding crypto.
is it possible to stop mining and send the machine home. for example?
Yes it is and there are several ways.
1. Sell your machine. In this case we undertake to provide the same service to the new owner
of the machine. We can help you to sell your machine.
2. Disconnect the machine. When the service contract expires, you can disconnect
the machine and send it to another hosting or to your home. However, due to its
noisiness, high operating temperature and the need for specialized service,
we do not recommend this step. Other negative aspects are the economic ones.
Our hosts are always in locations with excess grid power and on renewable energy sources.
Therefore, we can offer an unbeatable price for the already mentioned energies.
It is not possible to disconnect the machine and store it on the hosting.
We do not provide this service.
How does mining with automatic conversion to BTC work on L7 machines?
Mining on L7 machines, with our solution, is quite unique and brings high returns.
Operation and service
Who pays for after-sales services?
Each of our clients receives a $450 annual repair budget. This is valid for the first 2 years after the manufacturer's warranty expires. We always promptly inform the client of necessary repairs and present alternatives to address the service. Costs above the established service limit are covered by the client.
Can i monitor the performance of my machine?
The client gets 24/7 access from us to manage a monitor their mining, through the Hs Upstream Bitcoin Network web application, to which they get unique login details.
What is the reason for the fluctuation of hashrate miner?
This is a completely normal phenomenon. The mining calculation process never has a stable output, although it is expected to be stable (especially with respect to hashrate and earnings). In addition, mining is also affected by the condition of the machine, the mining environment, the stability of the mining network and many other factors. In order to maintain the most stable earnings, it is necessary to ensure as many of the above factors as possible.
How much will the machine produce in it's lifetime?
The machines we purchase are brand new and under warranty from the manufacturer. We strive to achieve the longest possible machine life through our care and maintenance. Currently, the life expectancy is expected to be somewhere between 6-10 years. We are able to extend this life by about 4 additional years by cooling in mineral oil etc. The ultimate amount of payback is determined by several factors. The difficulty of mining, the price of BTC, halving and the average hashrate performance of your machine (this is the only factor we can influence).
Is the machine under warranty?
All of our machines on the website are new and come with a one year manufacturer's warranty.
What is not guaranteed by our service?
The development of the cryptocurrency exchange rate, the amount of difficulty of mining and the associated annual earnings.
Who take care of the machine and how?
Based on a signed "Service Contract" with our company, we undertake to carry out monitoring 365 days a year. This includes maintenance, restarts, cleaning (which takes place once a month), negotiation of lower energy prices for the next year, compensation, fault reporting and subsequent resolution.
What happen if BTC loses most of it's value?
If you are not exchanging from BTC to FIAT (USD, EUR, AED, ..), the exchange rate is not that important for you. BTC is a long-term store of value, so most clients mine it, hold it and wait for a more favorable exchange rate.
Mining has to be profitable in the long run, otherwise BTC transactions would have no one to "count" (mining principle) and BTC would disappear. Currently, most of the machines in the network are outdated and with much lower performance than what we offer in our portfolio. It is the older, less powerful machines that would be the first to be disconnected and that would mean only one thing. A noticeable drop in difficulty and with it a higher return on our powerful machines. This is the main advantage of the combination of the most powerful machines and cheap energy.