Terms and Conditions – MINING.AG Limited
MINING.AG
What It Is and How (Not) To Use It
(Terms and Conditions)
1. PREAMBLE
Welcome to MINING.AG!
We would like to thank you for your choice of MINING.AG cryptocurrency mining aggregator. We
know that you are eager to go ahead and start mining with MINING.AG, but we kindly ask you to
spare a few minutes and read through these terms governing your rights and obligations.
We value your time, so we promise that we keep the Terms and Conditions as brief as possible.
If you like and agree with everything that you read here, you may then go ahead and start
mining.
(If you went ahead and started using our platform and/or started mining with MINING.AG, we will
take it that you agree with everything you have read herein).
So, let’s get into it:
2. PARTIES
Can you introduce yourselves…
We are a commercial company called MINING.AG Limited, incorporated and existing under the
laws of the British Virgin Islands, Company No. 3820207, with a registered office at Road
Town, Tortola, British Virgin Islands.
We are operating MINING.AG – the most profitable cryptocurrency mining aggregator in the world.
I guess, now a little bit about me…
When we refer to you in these Terms and Conditions, we actually refer to anybody, whether
individual or legal person, who creates a user account on our website and mines cryptocurrencies
with MINING.AG.
It probably goes without saying, but your legal capacity must not be limited to the extent that
could in any way prevent you from mining virtual currency with MINING.AG or from effectively
agreeing to and complying with these Terms and Conditions.
If you plan to mine cryptocurrencies on behalf of any other person, whether individual or legal
person, you must have legal authority to do so.
3. MINING.AG
I already know what MINING.AG is, but remind me just in case…
MINING.AG is a cryptocurrency mining platform operated by our company that allows the individual
miners to pool their computing power to mine cryptocurrencies more effectively.
How does it work?
Mining of cryptocurrencies is a process, in which miners perform mathematical operations to
verify and add transactions in a form of blocks to the public cryptocurrency ledger (blockchain).
To incentivize miners to mine cryptocurrencies and to ensure that there will be sufficient
computing power for the cryptocurrency network to function, miner who first successfully
verifies a block of transactions is rewarded with block reward and transaction fees from the
transactions included in such block.
Transaction fees are the fees that other users of the cryptocurrency network pay to have their
transaction verified by miners.
The mining pool allows miners to pool their computing power and then share the received
rewards and transaction fees proportionally, so that the miners are rewarded on a more consistent
basis.
When participating in the pool mining, miners must use an appropriate mining software that
allows us, the pool operator, to communicate with them, to allocate unique tasks and to collect
outputs.
We will coordinate the mining operations (and basically we will act as a sole miner with a
significant amount of computing power) and if we mine a block of cryptocurrency, we then split
the reward (except for a pool fee) including the transaction fees among all the participating
miners.
In this way every individual miner mining with MINING.AG has a chance to earn regular rewards
corresponding to the amount of its computing power, even though, if mining alone, it would
most likely never mine any block in a very long time.
Okay, I understand what a mining pool is, but explain to me what a mining aggregator is?
MINING.AG is not just a pool, it is a hashrate aggregator, which means that we use mining power
more intelligently than any pool.
MINING.AG uses its own patented hashrate distribution technology, which allows to more than triple
the profitability of mining using special licensed firmware.
4. USER ACCOUNT
So, how do I start?
That’s a good question. First, you need to create a user account. So just go ahead and create the
user account on our website at https://MINING.AG.
During the registration procedure we will ask you to tell us your email address and some other
identification information and then your account will be created.
We strongly recommend changing the password frequently to keep your user account secure and
we also recommend not to reuse your user account password in third-party applications.
Is there anything else I should know about the user account?
The user account is dedicated to you and you are solely responsible for all activities that occur on
or through your user account, so it is important that you keep your password and devices used to
access the user account secure. You must let us know immediately if you suspect any
unauthorized access to your user account.
We do not support a misuse of any third party information, so when providing us with any
information, you agree that the information must always be true and complete.
5. SUBMITTED CONTENT
Anything interesting about the submitted content?
We trust our customers. Therefore, we expect any information submitted by you within the user
account area of our website (including any information provided in order to create your user
account) or in relation therewith to be accurate, true and complete.
If any of the information changes, you should update it as soon as possible to prevent any
misunderstandings or problems down the line.
Any content submitted to or through our website or in relation with the mining that belongs to
you stays yours (or in legal terms: you retain ownership of any intellectual property rights that
you hold in a submitted content).
When you submit content to or through our website or in relation with the mining, you grant us a
worldwide, royalty-free, non-exclusive, perpetual license (with a right to sublicense) to use the
submitted content for the limited purpose of operating, promoting and improving MINING.AG and
any other related services. Make sure you have the necessary rights to be able to grant us this
license.
6. PERSONAL DATA
Are my personal data safe with you?
First let us assure you that the collection of your personal data (e.g. the data submitted when
creating your user account) in connection to mining with MINING.AG will be as limited as possible.
Any collection, storage and handling of your personal data shall be governed by a separate set of
terms on handling the personal data of our customers (MINING.AG Privacy Policy).
7. SUPPORTED CRYPTOCURRENCIES
What cryptocurrencies can I mine with MINING.AG?
MINING.AG platform is designed primarily to mine the Bitcoin cryptocurrency.
We would like to add a possibility of mining of other cryptocurrencies in the future (and we have
even added this functionality for some cryptocurrencies already) if the technical conditions and
the state of MINING.AG development allows.
If other cryptocurrencies than Bitcoin are mined with MINING.AG, you agree that these Terms and
Conditions and all the related terms apply similarly.
8. MINING
I am all set, let’s talk about the actual mining…
Once you have registered you may at any time start mining. Since you will use a specialized
software to mine, downloaded from our website, it may not be apparent what is happening in
legal terms, so let’s explain.
When you connect your device to MINING.AG and let us know that you would like to start mining,
we will assign you a particular computing power intensive task and you will then use your
hardware to perform the assigned task and to communicate to us the solution.
We guarantee that the computing power will be always used for cryptocurrency mining.
The mining itself may be performed by us or by a third party of our choice. Similarly, any
support and communication services, may be facilitated by us or may be delegated to a third
party.
Nevertheless, in legal terms you will always provide your computing power to us and we will be
your partner in solving any problems you may encounter.
Please note, that we may at any time decide not to use your computing power (to refuse it)
without having to give a reason.
Dos and Don´ts of mining with MINING.AG…
…always comply with any laws and regulations.
You agree to comply with any laws and regulations applicable either to you (e.g. laws of the
country where you are located) or to MINING.AG (e.g. laws of British Virgin Islands).
…always take care of your taxes.
You agree that you are responsible for obtaining any necessary information on tax and other
similar obligations that you have in relation with mining cryptocurrencies.
We are responsible neither for obtaining such information for you, nor for compliance with such
obligations.
…always use appropriate software and hardware.
You agree to read and follow the rules and procedures published by us in the respective sections
of our website (in particular the “Help” section).
You in particular agree to create the user account on our website, to use the recommended
software and hardware and other rules and procedures described in the respective section of our
website.
…no abuse.
You agree not to abuse any of MINING.AG mechanisms, processes, mistakes, bugs or imperfections
in programming or errors in the respective cryptocurrency network to advantage or disadvantage
any miners, or to disrupt the operation or the availability of the MINING.AG.
By “abuse” we also mean any attempted hacking or other hostile action, such as block
withholding attack, botnet attack etc. Any hacking or other hostile action against other miners
and third persons is also abusive, if its purpose is to advantage or disadvantage any participating
miners or to disrupt the operation or availability of MINING.AG.
…no botnets, specifically.
We do not like botnets, so please do not use them. Also, note that if you control multiple user
accounts, your activities may be considered as a use of botnet and your access may be suspended
until we investigate the issue.
9. REWARD
How much do I make?
As mentioned above, we will coordinate the mining hashrate, and if we mine a block of
cryptocurrency, we will then split the block reward, including the transaction fee, among all
participating miners.
Thus, your reward for the provided computing power depends on the amount of cryptocurrency
that was actually mined while you provided your computing power, and on the so-called scoring
hashrate at the time of the mining of the cryptocurrency block, which is valid and which is
subsequently accepted on the exchange. cryptocurrency network.
We may amend or change the specific algorithm and rules for reward calculation at any time, but
we will always notify you before such amendment or change is effective and such amendment or
change won´t apply to any mining that has taken place before such amendments or changes.
What´s in it for you?
We will not charge you a mining fee, however, in order to access our mining aggregation
technology platform, you will need to pay a certain number of coins once for each power limit of
50Th.
The price of a 50Th account limit may vary depending on mining and market circumstances.
What if I can´t pay for an account hash power limit?
Just mine it. You can increase the hashrate limit of your account in debt.
When will I get paid?
We will confirm the amount of your reward within a reasonable time after we mine a block of
respective cryptocurrency.
If there are some technical or other circumstances that prevent us from reward confirmation, we
will confirm the reward within a reasonable time after such circumstances disappear.
Once your reward is confirmed and displayed under your user account your may at any time
request us to pay out the confirmed reward.
For security reasons, all payments requested till 1 p.m. GMT are made once a day at 3 p.m
GMT.
To avoid any abuse of our systems, we may set a minimum threshold for the payouts. See our
website for more information on the payout thresholds.
The reward is considered as duly paid out at the moment of sending it to your address in the
respective cryptocurrency network listed in the respective section of your user account.
In what cryptocurrency will I get paid?
The reward is paid in Bitcoin.
What address will you use?
Unless otherwise agreed, the confirmed reward is always sent to the address listed in the
respective section of your user account area.
You confirm that the listed or otherwise communicated cryptocurrency address belongs to
you and that you are the recipient of every single pay out.
Who will pay the transaction fees?
In default we bear any transaction fees related to the payout of your reward and do not charge
any fees for processing the payout. However, we may under some circumstances (the payout
value is too low, the transaction fees are too high) set out different rules on our website.
What about forks?
In the event of so called fork, that is in case the mined block is not accepted to the main
blockchain of cryptocurrency (so called orphaned block), you are not entitled to any reward or
reimbursement of any costs incurred in relation to mining the particular block.
In case of so-called hard fork, the is in case the cryptocurrency blockchain is divided into two
chains to create new cryptocurrency, you are not entitled to any so-called forked coins of the new
cryptocurrency.
Can a breach of rules affect my reward?
First, do not breach the rules. But since you have asked, then the answer is yes, it can.
We reserve the right to penalize any breach of these Terms and Conditions, which did or could
advantage or disadvantage any miner in mining on MINING.AG (in particular in the reward
determination) or which could influence the operation or availability of MINING.AG, by a penalty up
to the amount of the reward that you would have been otherwise entitled to according to these
Terms and Conditions.
In such case we shall not confirm the respective portion of the reward and/or shall nullify the
prospective portion of the confirmed reward and delete it from the records within the user
account and/or may claim a refund of the reward that has already been paid.
This is without prejudice to any claim against you for damages in excess to the above-mentioned
penalty. This is also without prejudice to our right to delete the user account and terminate the
mutual relationship for a breach of the rules.
What if I did everything right and you still have not mined any blocks? What about my
reward then?
As mentioned above, depending on the circumstances and on the cryptocurrency being mined we
will either (i) just pay you for the provided computing power (PPS reward mechanism), or (ii)
we will coordinate the mining operations and if we mine a block of cryptocurrency, we then split
the block reward including the transaction fees among all the participating miners.
In the first scenario, your reward is pretty much guaranteed, so if you do everything right, you
may be sure that will get paid by us.
Please sit back and listen, because we cannot stress this enough:
The result of the mining is dependent mainly on luck and it cannot be foreseen. Therefore, the
amount of your reward is variable, there may even be no reward at all under some circumstances,
and the reward is in no case fully or partially guaranteed by us.
10. AVAILABILITY
You are always up, right?
We always attempt to provide continuous uninterrupted operation of MINING.AG platform, so you
can access it and mine the cryptocurrencies at any time.
However, due to maintenance, repairs or exceptional outages there may be occasions when
MINING.AG will not be available and therefore we cannot always guarantee a completely
uninterrupted (100 %) availability.
If it is unavailable due to a planned temporary maintenance shutdown, we will attempt to inform
you in advance. If, due to the nature of unavailability we, could not inform you in advance, we at
least attempt to promptly resolve any issues and make it available again.
Please, be aware that you must always set up your hardware in a way that allows it to reconnect
to the MINING.AG automatically when it becomes available after the shutdown or outage.
What if you decide to shut MINING.AG down completely?
We work in a field of new technologies and you never know, what will happen a month, year or
ten years from now. Therefore, we cannot rule out that we will at some point discontinue MINING.AG completely.
In that event, we will give you at least thirty (30) days prior notice. After the end of this notice
period our relationship will be terminated and you will not be able to mine with MINING.AG and to
access your user account anymore.
11. LIABILITY AND WARRANTY LIMITATION
So where are the legal disclaimers?
You have just found them, so let’s get it over with.
Please, be aware that we do not give you ownership of any intellectual property rights in MINING.AG
or any other products or services associated therewith, unless we say so explicitly. You are solely
entitled to access and use the MINING.AG platform for join cryptocurrency mining (that means you
are entitled to provide us with computing power and to receive a prospective portion of a
reward).
We operate MINING.AG using a reasonable level of skill and care and we hope that you will enjoy
using it; however, be aware that the entire platform is still offered to you on “as is” and “whereavailable” basis and, therefore, we expressly disclaim any warranties, express or implied,
relating thereto.
We shall not under any circumstances be held liable to you for any direct, indirect, special,
consequential, punitive or any other damages and costs including, but not limited to, loss of
profit, loss of revenue or loss of business opportunity arising out of or in connection with your
access and use or inability to access and use MINING.AG.
Under certain laws it may not be possible to disclaim our liability and warranties completely. For
such cases you hereby waive to the fullest extent permissible under any such law any claims for
damages that you may have against us in relation with your use of MINING.AG or inability to access
it.
You specifically waive the damages (loss of earnings) incurred as a result of non-fulfillment of
your expectations regarding the amount of reward for the provided computing power, a complete
failure to provide a reward, damages to your software or hardware and also damages incurred in
relation to any loss of data on the hardware and software components.
If the warranties and liabilities disclaimers above are found void or invalid or otherwise
unenforceable, you agree that our total liability for any claims arising out of these Terms and
Conditions or in relation thereto are limited to the amount of pool fee earned by us directly in
association with the computing power provided by you in the period of six (6) months
immediately preceding the event that gave rise to your claim.
Some reminders, so you are not surprised later…
…electricity and heat.
The mining process is very demanding on the computing power of your hardware, which can
cause an increase in electricity consumption and accelerate a wear on some of the hardware
components.
…software and hardware setup.
It is up to you to set up your software and hardware including any individual components thereof
(meaning we cannot be held liable for any damages incurred as a result of incorrect or
incomplete setup).
…we are not a wallet, do not postpone your payouts.
Note, that we are not a cryptocurrency wallet intended to store your cryptocurrency coins for
extended periods of time.
Although we constantly attempt to improve the security of the MINING.AG against hacking and other
similar attacks, these attacks regularly occur and possible successful attack may lead to the loss
of certain amount (or even all) of mined cryptocurrency means gathered in our wallet, which will
be irreversible.
You agree to minimize the risk by requesting regular pay outs of the confirmed reward and you
agree to provide any cooperation necessary.
…list a correct address.
As you may know, the transactions in cryptocurrency network, unlike wire transfers, are
irreversible. So always give us correct cryptocurrency address. If you give us incorrect address
and we have already sent the reward to that address, you are most likely out of luck and your
reward will be gone.
12. TERMINATION
I like MINING.AG so far, but what if I change my mind?
We will always be sorry to see you go, but we will respect your decision. We want happy
customers and it is not in our interest to force onto you a service that you do not like or do no
longer wish to use.
Therefore, you may terminate the legal contract established by these Terms and Conditions at
any time by deleting your user account (there is an option to do that in the user account
interface). However, please, be careful, since after your account is deleted, you lose the right to
claim a payment of any unpaid confirmed reward for the computing power that you have
provided under the user account.
Please be aware that upon termination we may delete your user account and any data relating to
your reward and your use of our platform without any further notice without any possibility of
recovery.
Can you terminate our relationship without my consent?
Our relationships with our customers last and we take pride in that fact.
However, we may have to and are entitled to suspend or permanently disable your access to
MINING.AG if you materially and/or repeatedly breach these Terms and Conditions, any other
applicable terms (such as the Privacy Policy) or if you violate any provision of applicable laws in
relation thereto.
What if I want to take a break from mining?
That´s fine you and your miners have worked hard and you deserve a break. Just be sure to log
into your user account once in a while, because the accounts that have not been logged into for
more than a year (twelve consecutive months) are automatically considered as inactive.
The inactive user account may be deleted at any time and after deletion you waive your claim to
any data, information stored under your user account as well as to any unpaid rewards associated
with such user account.
What about the unpaid rewards?
We want to treat you fairly, unless your account is deleted because you have breached the rules
or due to inactivity as described above, you do not lose the right to your unpaid reward. In such
case we will always ask you to provide current wallet address, so we can send you any unpaid
rewards. If you fail to provide the address within thirty (30) days after the notification, you will
have waived your claims to the unpaid reward.
We may at any time set off any unpaid reward against any claims that we have against you for
example for the breach of any rules applicable to your mining with MINING.AG.
What if I keep mining after my account is deleted?
In case of deletion of the user account you waive all of your claims against us for any reward for
computing power provided thereafter.
If you still choose to continue to mine, you are not entitled to any additional reward.
13. NOTICES
How do I get in touch with you? And what if you need to contact me?
You can contact us electronically via tools available on our website or via the email address
help@mining.ag. Your message is considered as delivered when we confirm its delivery to
you, which we always attempt to do promptly.
We will not bother you too much, but occasionally we may have to contact you. In that event we
will use either the email address listed under your user account or by a notice available to you
upon logging into your user account.
We will occasionally send you an email with commercial announcements; you may at any time,
without having to give a reason, opt out of these communications.
14. CONFIDENTIALITY
It all sounds so great, I will tell about MINING.AG everybody I know…
Great, we appreciate it, but please be discrete.
Sometimes we share with you information that is not meant to be public. For that reason we must
ask you to keep confidential (not to disclose to third parties) the details of our mutual legal
relationship (such as pricing and payment details or details about any tailored services), as well
as any other information that you have learnt from us and that was marked, accompanied, or
supported by documents designated as “confidential” or equivalent, or that was identified so by
us, or should be reasonably known to you to be confidential.
The duty of confidentiality expires three (3) years from the date of disclosure. The obligation to
protect technical information about our current products and services and all information about
possible unreleased products or services never expires.
This applies to everything I know about MINING.AG?
Of course this does not apply to information which was already in your possession before you
received it from us; is or becomes publicly available through no fault of yours; is rightfully
received by you from a third party who has no duty of confidentiality; or is independently
developed by you without a breach of the confidentiality obligations hereunder.
What about my staff?
You may disclose confidential information to your directors, officers, employees, as well as your
contractors, advisors, and agents, so long as those individuals have a need to know in their work
for you and are bound by obligations of confidentiality at least as restrictive as those imposed on
you in these Terms and Conditions. You are fully liable for any breach of this obligation by the
aforementioned third parties.
Sometimes you may be required by a government body or court of law to disclose confidential
information. That’s fine by us, but we must ask you, to the extent permitted by law, to give us
reasonable advance notice so that we may contest the disclosure or seek a protective order.
15. SANCTIONS COMPLIANCE
Do you comply with international sanctions programs?
As mentioned before, we are based in the British Virgin Islands and are subject to its local laws
and regulations. However, even though we do not fall within the jurisdiction of OFAC (Office of
Foreign Assets Control of the United States of America), we have chosen not to do any business
with anybody who falls within any OFAC sanctions programs.
What does it mean for me?
When you agree with these Terms and Conditions, you also represent, that you are not subject to
sanctions under any of the OFAC sanctions programs and are not listed on any of the sanctioned
entities lists kept by the OFAC and you will ensure that this representation remains true as long
as there is any business relationship between you and us (as long as your user account is open).
What if I am subject to sanctions?
If we learn (or have a reasonable cause to suspect) that you are subject to the sanctions under any
of the OFAC sanctions programs (for example, if some of your information are listed on OFAC
moderated list of sanctioned entities), it is considered as gross breach of the contract, and we
have a right to immediately and for indefinite term suspend your user account (including any of
your mining operations and/or any virtual currency payouts from your user account, whether the
reward was already confirmed and showed under your user account, or not). We may choose to
suspend only some functionalities of the user account at our sole discretion.
What if my user account was suspended by mistake?
If your user account is suspended, you are then entitled to initiate review by contacting us. The
review may include a thorough KYC check carried out by our support team etc. and it is at our
sole discretion to decide whether sufficient evidence was provided to revoke the suspension. We
will always notify you about the outcome of the review.
What if I am in fact subject to sanctions?
If within one (1) year after we have notified you about the suspension of your user account the
review was either not initiated by you, or the review was initiated, but no sufficient evidence was
presented to show that you are not subject to the OFAC sanctions, we have a right to terminate
your user account and we will no longer be under any obligation to pay you any remuneration
hereunder, regardless whether the reward was already confirmed and showed within under
your user account, or not. Additionally, we are also entitled to claim damages or any other
remedies under the applicable law.
16. APPLICABLE LAW
What laws do apply?
The laws of the British Virgin Islands, without regard to principles of conflict of laws, will
govern these Terms and Conditions and any dispute of any sort that might arise between you and
us in connection herewith.
17. DISPUTE RESOLUTION
What if we argue?
We always operate in a customer-friendly manner. We try to solve any issues peacefully and ask
you to do the same. Therefore, you agree to notify us of any disputes arising out of or in
connection with these Terms and Conditions and you agree that you will always attempt an outof-court dispute resolution before you bring the dispute before the courts.
However, sometimes out-of-court dispute resolution is just not possible. In that event, any
dispute relating in any way to these Terms and Conditions shall be decided with final effect
before the courts of the British Virgin Islands.
Should you violate or threaten to violate our intellectual property rights in any manner, we may
seek an injunction or other appropriate relief in any court of our choice. You consent to exclusive
jurisdiction and venue in such courts.
18. MISCELLANEOUS
Some necessary boilerplates…
…severability
If any provision of this contract is held by any court or other competent authority to be invalid or
unenforceable in whole or in part, this contract shall continue to be valid as to its other
provisions and the remainder of the affected provision, unless it can be concluded from the
circumstances that, in the absence of the provision found to be null and void, the Parties would
not have concluded this contract.
The Parties shall use all reasonable efforts to replace all provisions found to be null and void by
provisions that are valid under the applicable law and come closest to their original intention.
…entire agreement
These Terms and Conditions set out the entire agreement between you and us. Neither party has
entered into this contract in reliance upon any representation, warranty or undertaking of the
other party that is not expressly set out or referred to in this contract.
…no assignment
You may not assign or transfer any of your rights or obligations assumed under these Terms and
Conditions or in any other way related hereto without our prior written consent.
…operator change (contract assignment)
You agree to any future change of the MINING.AG platform operator (assignment of the contract). In
case of such change we will always notify you.
…no waiver
If you do not comply with these Terms and Conditions, and we do not take action right away,
this doesn’t mean that we are waiving any rights that we may have (such as taking action in the
future).
…survival
All the provisions of these Terms and Conditions that by their nature extend beyond the
termination of mutual legal relationship, including but not limited to dispute resolution and
applicable law clauses, shall survive the termination of our mutual legal relationship.
…languages
These General Terms and Conditions and all the related documents may be translated into
multiple language versions. In case of any discrepancies between the individual language
versions the English language version shall always control.
I did not like (something) I have read above.
We always attempt to make legal documents as brief and user friendly as possible, but we cannot
completely make do without them.
So even though we regret it, if you do not agree with any part of these Terms and Conditions or
if you have any reservations, you may not mine with MINING.AG and we must ask you to leave our
platform immediately (but please, delete the user account first).
I found out there is a conflict between this document and the terms I found elsewhere.
If there is such a conflict, please let us know immediately, so that we can attend to it and
improve our documentation. Meanwhile, these Terms and Conditions will control for that
conflict.
So, is that it? May I go ahead and start mining with MINING.AG?
Just one last thing; we may change or amend these Terms and Conditions or an additional terms
that apply to MINING.AG (such as Privacy Policy) from time to time, and if we do so, we will have to
ask you to read through them and agree to them again.
We realize it’s inconvenient for you, so we promise not to do it too often.
So, that is all from us; if you like everything you have read so far and agree to it, you are free to
go ahead and enjoy MINING.AG!
In Road Town, on 9th May 2023
MINING.AG Limited