Who owns the machines? What is the legal framework like?
Cyberian Mine owns the machines.
We created a Russian Company, Cyberian Mine Rus LLC, which owns and operates the equipment. This legal framework ensures that Cyberian Mine takes care of all legal matters, taxes, and services for external clients.

Owning and operating mining equipment in Russia is complicated. You need to register as a Russian taxpayer, do your own bookkeeping and file tax reports.
To rid you of this hassle we have created a Russian company,
Cyberian Mine Rus LLC, which nominally owns and operates the equipment. As such, it takes care of all legal matters, pays taxes and provides services to external clients. This ensures you don't need to deal with Russian tax authorities.
We invested significant time and resources to build this legal framework. And we did this alongside one of the "Big Four" consulting companies.

The service of "provision of computing power" (hash rate) comes in two parts:
1. Delivering, installing and setting up the miner (seen as purchase of the miner)
2. Provision of the computing power/hash rate of a certain device (hosting).

Our Russian company provides the service so there is no reimbursable European VAT.

To simplify the process for their clients, Cyberian Mine created its own Russian company called Cyberian Mine Rus LLC, which is responsible for owning and operating the equipment. This legal framework allows Cyberian Mine to handle all legal matters, including taxes and services, on behalf of their clients. By registering as a Russian taxpayer and working with a consulting company, Cyberian Mine ensures compliance and provides a hassle-free experience for their clients.

When you purchase a miner from Cyberian Mine, you are buying a hash rate delivery service for mining Bitcoin, represented by the miner itself and its lifetime hosting contract. The physical device remains the property of Cyberian Mine and cannot be taken away. Cyberian Mine ensures a stable hash rate and covers all repairs, maintenance, and compensation for downtime. If you decide to end your contract, you can sell your miner on their internal marketplace.

The miner at the time of purchasing is identified with a serial number, corresponding to a physical device in our Datacenter. Over time, depending on the failures and lifespan the hardware may face, Cyberian Mine may tend to deliver the hash rate for your account from any other new, or more efficient miner, with no break from the hosting commitments and no extra costs for you.
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