Mining Capacity Agreement
I , agree with the following term and conditions for the provision of mining services (the “Agreement”) is made this date between:
BCause Mining, LLC, 277 Bendix Rd, Suite 420, Virginia Beach, VA 23452 (the “Company”)
Customer Phone Number
wallet address for Bitcoin
Wallet address(s) for any coins in addition to Bitcoin with which the customer desires to receive output
The Company agrees to provide to the Customer with the output of its mining capacity (the “Services”) subject to the following terms:
Contract Type: Bitcoin Mining and other Crypto Currency Mining such that they are minable utilizing the same equipment and based upon whatever the most attractive returns are based upon market conditions that may change from time to time.
Mining Algorithm: SHA-256
Start Date: 1/4/2018
Term: 1 Year
Mining Power: ~14 Thashes/sec
Mining Algorithm: The Mining Algorithm is the type of algorithm that can be processed on the specialized computers (the “Mining Gear”). As of start date SHA-256 can be used to mine, among others, Bitcoin and Bitcoin Cash cryptocurrency.
Mining Power: The Mining Power is the number of hashes of the mining Algorithm that the Mining Gear can process per second. For Bitcoin and other SHA-256 related crypto-currencies, the productivity also depends on the difficulty factor, this means that while the number of hashes solved per second will remain more or less constant over time, the productivity will vary according to the difficulty factor.
Productivity (the “Coins”) A given cryptocurrency that can be mined with the above Mining Algorithm and offered by the Company, which directly results in the award of cryptocurrency by the various cryptocurrency networks eg Bitcoin, Bitcoin Cash or other cryptocurrencies
Quality of Service: Customer acknowledges that services are rendered on a best effort bases. The availability of Mining Power and accordingly Coins will vary up and down to a maximum of 5% dues to variance in Mining Gear construction AND vary up and down due to power availability, Internet availability, computer failure, and force majeure, some or all of which we have little or no control. Company ensures that it maintains all facilities and relevant supplies in good working order, in order to avoid any of the above issues and to the maximum extent possible with the same diligence that it applies to its own dealings.
Mining Payouts: Customer will receive coins mined in accordance with Mining Power and in accordance with applicable Fees (as per Section 2). If the anticipated transaction fee (charged by the network to process the transaction) divided by the value of the payout is anticipated to exceed 5% or the payout is below an equivalent value of USD $1.00 Company has the option, at its sole discretion, to accumulate payouts in Customer’s account, until the payout volume is sufficiently high to meet the requirements.
As consideration for Mining Services (Electricity, Floor Space, Air Conditioning, Labor, etc.), Customer agrees to pay to Company an amount equal to $1729.50
As consideration for Mining Concession (Connection to Mining Pool), Customer agrees to pay to Company an amount equal to $599.40
As consideration for use of Mining Gear (Computer and Power Supply), Customer agrees to pay to Company an amount equal to $2500.00
All fees are due in advance and this is the extent of company mining fees. We do not collect additional fees on mining output. However, there may be additional fees charged by the network to transfer Coins to your wallet and there may be additional fees charged by exchanges to convert your coins to other currency (crypto or fiat).
Limitations of Liability
Without detriment to Company’s obligations to render Services on a best effort basis, only, any liability of the Company hereunder and or in connection with the Agreement shall be limited to willful misconduct and gross negligence. Any other material event which shall include but not be limited to any disruption or breakdown of the mining facility, the mining gear, the crypto-currency market, changes in the algorithm, changes in the consensus system. The Company will attempt on a best effort basis to make best possible use of the Mining Facility and associated hardware to maximize the value of Coins.
This agreement is entered into for a term of One Year and cannot be terminated early or canceled otherwise. The Company may terminate the Agreement with thirty-days’ notice in the event the power company raises the fuel charge on power provided such that Mining Services fess are inadequate to cover power costs.
All communication between Company and Customer shall be made in writing which includes written, email, website, and other electronic messaging services.
Representations and Warranties
Customer represents and warrants to Company that he/she is familiar with mining, crypto-currencies (e.g. Bitcoin) and that he/she understands the nature and uses of mining such crypto-currencies. Customer acknowledges that he/she is solely liable for the maintenance of their own technical equipment (cell phones, computers, hardware, software etc.) that is required to receive Services and communicate with Company.
Company does not guarantee or warrant the profitability of Services at any time. Customer acknowledges that it has no claim against Company for any specific amounts of Coins on the basis of this Agreement and Company does not guarantee or warrant any such output or value thereof. Also, Customer, acknowledges that the exchange risk of mined Coins depends on the actual price compared to any given fiat/crypto-currency (“Market Volatility”)
Customer further represents and warrants that he/she will be the beneficial owner of the Coins.
Credit Card and Debit Card Services through Card Service Provider
The following only applies to the extent that Company is paid by credit card or debit card
Customer acknowledges and agrees that if, for any reason, Company is not able to continue supplying Services during the period of the Agreement, Company’s maximum liability, if any, will be for what they customer paid, at the time of the payment for Services, less 1/12 of that payment for each 30 day period that has elapsed since payment was made and the value of all Coins mined during that same period up to the date that the service stopped.
The Company uses third party services and such third party affiliates services which enable Customer to place monetary deposits and perform transfer payments within the website of the Company. By making use of Customers existing credit/debit card (as and if available and applicable) (the “Card Services” and “Card Service Provider”). Card Services do not include any additional service, and such Card Services do not Customer’s account.
Customer For bcause Mining, LLC
Independent Enrolling Agent
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Signed by James Burns
Signed On: December 18, 2017
If you have questions about the contents of this document, you can email the document owner.
Document Name: Product Agreement
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