Mining Hosting Terms Of Services

MINING HOSTING
GENERAL TERMS OF SERVICES

This contract is established between UAB Baltic Miners, Vilniaus r. sav., Zujūnų sen., Gineitiškių k., Upelio g. 2, Lithuania a company registered with Code ID 306025789 and fully owned and controlled by V.A. MINING RIGH INC., United States of America (the “Seller”)

and

The “Customer“.

1. SCOPE

The Seller will provide at its hosting premises in Vilnius, Republic of Lithuania, a space for “miner” with an electrical power for the scope of running the customer’s cryptocurrency mining machines.

The Seller is demanding an all-inclusive recurrent fee of EUR 0.15 per consumed kWh for the space, electricity, cooling, internet connectivity, setup and operation of the customer’s equipment, to be billed monthly.

The details of the supplied infrastructure are outlined in point 5.

2. DURATION

The contract and its associated services will start at the moment the Seller receives the customer’s equipment at its premises and will have a minimum duration of one year.

Up to 60 days before the expiration term of the contract, any of the two parties may give written notice to the other party for the termination of the contract. Unless such notice is given, the contract will renew itself automatically for one additional year and so on.

3. PAYMENTS

The Customer must a deposit of 1 month of services, calculated on the basis of the consumption declared by the manufacturer of the “ASIC Machine”, has to be paid by the customer on the seller’s designated bank account at latest 15 days before the beginning of this contract.

The payment of the running expenses has to be accomplished monthly on the seller’s bank account within the 10th day of each subsequent month. On each 1st day of the month, the seller will read out the customer’s electricity consumption on its installed power meters and send by e-mail to the customer the corresponding invoice based on the actual power consumption.

Failure to comply with the payment terms could result in the hosting contract being temporarily suspended (i.e. power disconnected) until the payments have been received. The customer agrees that its equipment may be temporarily withheld by the seller until all due invoices have been settled.

Should the customer be overdue for more than 3 months on its invoices, the seller has the right to terminate the agreement and permanently take over the customer’s equipment for partial financial compensation of its losses.

4. SERVICE LEVEL AGREEMENT

The Seller guarantees to the buyer that the equipment will be run in a specifically engineered facility that is technically designed to provide an uninterrupted service as much as possible. The following criteria are being monitored:

• Electric power supply;
• Internet connectivity;
• Ambient temperature (intake) of less than 35°C.

Should any of the three above-mentioned criteria not be matched, the customer has the right to request that any service billed by the seller while the condition(s) was/where not being satisfied, shall be waived for that specific timeframe.

The service level agreement applies to the above-mentioned parameters only and does not, among others, cover the single servers’ hardware failures, reduced performances, etc. Furthermore, the service level does not apply in case of force majeure events that are outside of the seller’s control. This includes, but is not limited to, any climate adverse event like floods, lightning strikes, storms, earthquakes, etc. and any man-made unexpected events like strikes, civil disorders, war, governmental or court orders, curfews, etc.

The Customer agrees that the only channel to be used for service requests shall be through the online ticketing system (https://balticminers.com/contact-us/), or by email to customersupport@balticminers.com.
Any other service requests made will be ignored.

The Seller will give response within a maximum of 48 hours.

5. DELIVERY POINT

The Seller will provide the following infrastructure to the Customer:

• Metal shelves that can accommodate 6 common-sized (i.e. Bitmain S19) cryptocurrency miners.
• 1 x IEC C19 or 2 x IEC C13 type power sockets for each miner. Power consumption shall not exceed 8 Amps on C13 and 16 Amps on C19 sockets. Power cables are not included.
• 1 x Ethernet cat.5e or better network socket (RJ45) for each connected miner. The customer will have a private VLAN for all of its equipment and an OpenVPN access to remotely access it. Networks cables are not included.
• Internet access from a centrally managed router with a shared symmetrical bandwidth, fiber connectivity of at least 50 Mbit/s and a backup connection over 4G/LTE (only for outbound connectivity).
• A free cooling system designed to use external ambient air for cooling purposes and that may range from a minimum of -10°C to a maximum of 35°C. While the air will be filtered through some means of air filtering, the customer has to make sure that his equipment will be compatible with this usage scenario.
• A 24/7 video surveillance of both the inside and the outside of the facility, perimetral intrusion alarm system connected with a private security company and controlled access only to authorized users which are specifically designed and trained to enter the facility.
• A hands-on service provided by on-site personnel at the customer’s request and under customer’s guidance. The service level for this service is outlined in point 4.

 

6. LOGISTIC

The Customer agrees that its equipment shall be sent to the Seller’s premises by means of courier service only (such as UPS, DHL, etc.) at his own expenses and at his own risk.

Likewise, after the termination of this contract, the Customer can request his equipment to be shipped to a designated destination at his expenses. Failure to notify to the seller a destination address or failure to pay for the logistics expenses within 3 months of the contract termination authorizes the seller to dispose of permanently and irreversibly of the customer’s equipment, without obligations for any kind of compensation.

If the Customer is located outside the European Union, will take care of all custom duties and clearance at his expenses during the import of the equipment in the Republic of Lithuania.
Likewise, the customer will take care of all custom duties and clearance fees of the destination country where the equipment shall be returned to.


Any other service requests made will be ignored.
UAB Baltic Miners will give response within a maximum of 24 hours in working days.

7. LEGAL TERMS

No failure by the seller to exercise any right or remedy under these Terms shall constitute a waiver of that or any other right or remedy.
This contract replaces any previous written or oral agreements and shall constitute the only enforceable agreement between the parties.
Any change or amendment to this contract can be made only in written form.
Any dispute or claim arising out of or in connection with this contract shall be governed by and construed in accordance with the laws of the Republic of Lithuania, and the responsible adjudication court shall be in Vilnius.

8. LITHUANIAN TAX

UAB Baltic Miners has its legal and operational headquarters in the Republic of Lithuania, therefore the proceeds of its customers’ Mining Hosting are subject to an annual tax of 15%.

This “GENERAL TERMS OF SERVICES” is accepted by the Customer through the subscription and online purchase of the Cloud Mining service, as shown in the E-Commerce cart.
These “GENERAL TERMS OF SERVICES” are also sent to Customer by confirmation of subscription email.

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