Cyberian Mine owns the physical machines.

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.
So we formed a Russian Company, Cyberian Mine Rus LLC, which owns and operates the equipment. This means we take care of all legal matters, taxes, and services for clients.
We built this legal framework 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.

When you buy a miner from us, you are not buying the physical miner. Instead, you are buying a hash rate delivery service for mining Bitcoin.

The physical device remains the property of Cyberian Mine. 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 our internal marketplace.

The miner comes with a serial number which matches to a physical device in our data center. Depending on repairs and maintenance, we may choose to deliver your hash rate from any other new, or more efficient miner. There is no break from the hosting commitments and no extra cost for you.