As shared by our CEO, Max, on our Telegram Community Channel, we have to update our hosting prices from the beginning of July 2022 to reflect the growth of the Rouble price over the last three months.
New Terms & Conditions coming into force on 1st July 2022
1. Hosting Prices now will depend on the Rouble/EUR rate.
The price of hosting will be adjusted proportionally to the official Rouble/EUR exchange rate average. The price will be adjusted every 1st and 15th day of each month based on the average, taken for two last weeks before the change. The price will be adjusted proportionally to the difference between the latest 14-day-average and the average rate of the first two weeks of January (85.78 ₽/€).
The current exchange rate of Rouble/EUR is 58.70 ₽/€, which corresponds to the price increase by 46%. We fully realize that this is a harsh development, but this is the only way we can survive and protect your investments and continue operations as a company. Hopefully, the Rouble trend turns around soon and your miners will get back to the pre-war levels of profitability.
To make sure all your miners are intact and fine when this time comes, we introduce a few positive changes in the T&C:
2.No more 30-day limit. Store your offline miner until the next bull run.
How it was before:
If a miner is switched off due to any reason for 30 days, you lose your miner. The policy was supposed to give us a chance to throw away worthless abandoned old units. But now since circumstances may force you to switch off some miners, that still might have some future potential, we leave the option to keep them for as long as you wish.
If the miner is switched off for 30 days in a row(!), a fee of €10 per unit will be withdrawn from the balance. If the balance is negative, after 30 more(!) days and proper notification in due time, the unit will be collected and disposed of.
The fee is supposed to cover (at least partially) the expensive hosting rack slot that it would occupy, or uninstallation + storage + installation operational costs.
On the sunny side…
Hash Rate is higher than ever!
As you might have noticed here in our daily published statistics, our delivered hashrate is growing over time, and we believe we’ll achieve 100% of the nominal hashrate in a few days.
The rest stays the same.
We still cover all your repairs and provide the Lifetime Warranty and Automatic Failover for all our miners within our community-driven Stable Hashrate Insurance.
From our inception in January 2018, we’ve survived through quite a few crises and the whole Cyberian Mine team is positive that we will survive this one as well.
By Max Matrenitski – Cyberian Mine CEO