Cyberian Mine Updates — 24th June 2022

If it’s not your first crypto-winter, then you know for sure that spring will eventually come.

It always does. We’ve seen this before, and we’ll definitely see it again.

The Rouble price now is the same volatile as crypto, and it can’t stay that high for too long. It will inevitably go down along with the mining difficulty drop. Hopefully, along with the next Bitcoin bull run.

While the market is still rather pessimistic, we decided to make the wait as comfortable as possible, so you could save resources while hibernating.
What’s new?
We’ve made two big decisions:

1. In July 2022 you will be able to ship away any devices that would become unprofitable on the 1st of July.

​This restriction was always an intrinsic part of our hashrate insurance model, but now, under the pressure of external circumstances, keeping switched-off miners is a burden rather than a help to the community’s hashrate pool.

There are a few nuances that you have to be aware of:

  • There’s no way to export the miners outside of Russia, because of current export restrictions. We can use any local delivery company to provide the shipment only within Russia.
  • Since all miners were covered by Lifetime Warranty and Automatic Hashrate Failover, some of the underlying devices may have been damaged over the last years, some may have been repaired, some may be underperforming, and some may have failed beyond repair and even completely burned. Thanks to our community-driven Hashrate Insurance, the hashrate has always been evenly redistributed across all miners, and you wouldn’t have noticed any trouble. If you decide to ship away devices, they will be provided “as is”, according to the serial numbers, with current actual condition, performance, and spare parts completeness.
  • You can ship away all unprofitable miners only at once. There will be no way of knowing beforehand which devices are fine, and which are not, to avoid cherry-picking good ones, and leaving the community pool only with broken ones.
  • The temporary policy applies only to whole miners, of course. But if you have all the fractions of a miner with a specific serial number, we can combine them into one.
  • To go for it, please, submit a support ticket. Highly unlikely there would be a long queue, and we’ll be processing requests without any undue delay, but it may take some time for packing up miners and preparing them for shipping.

2. Free storage for all offline miners until January 2023.

Whoever stays, will be provided with free unlimited storage for all miners until the end of the year 2022. No more 30- or 60-offline-days rules, no storage fees, no uninstallation/installation costs.

A safe Siberian bear cave to wait out the winter.

As always…

​We still cover all your repairs and provide the Lifetime Warranty and Automatic Failover for all running miners within our community-driven Stable Hashrate Insurance.

As you might have noticed, our delivered hashrate is growing over time, and even with a few recent power-downs, the average stays on a decent level.

We also believe that until the end of the crisis, we’ll be able to keep the average high close to 100% of the nominal hashrate for those miners that would keep on running.

By Max Matrenitski — Cyberian Mine CEO

If you have any questions, please feel free to ask us or other community members on our Telegram CommunityChannel, or jot a line in Support Tickets on the platform, we are always happy to help.