Mining Power definition

Mining Power means the total number of Hash provided by the Mining Operation;
View Source
Mining Power. The Mining Power is the number of hashes of the Mining Algorithm that the rented hardware can process per second. We are selling you the specific volume of mining power (the 'Service' or 'Services') of that Mining Hardware corresponding to an amount of mining power (measured in billions of calculations per second or “Megahashes”) specified in each order for the opportunity to make possible, but not guaranteed profit.
View Source
Mining Power. This is the number of hashes per second of the Mining Algorithm processed by the purchased hardware. “Mining Output” ("Coins") The cryptocurrency which the Mining Algorithm can mine, offered by us. Applicable mined coins are convertible to various cryptocurrencies including, but not limited to, Bitcoin and Ethereum utilizing a third party cryptocurrency exchange of the customer’s choice. Quality of Service You acknowledge and agree that the Service operates in accordance with the principle of “best effort”. Availability of Mining Power, and subsequent yield of Coins, can vary by a factor of plus or minus 15%. We commit to ensuring maintenance of all facilities and supplies within reason, in order to ensure good working order, and to avoid variance where possible. Mining Payouts You will receive all Coins mined in accordance with the stated Mining Power, minus the applicable Maintenance Fees detailed n section 2ii. If (a) the anticipated transaction fee (which is necessary to ensure processing of the transaction by the network) divided by the payout value is in excess of 5%, or (b) the value of the payment is below the equivalent of 1.00USD, we reserve the right to hold and combine payouts in your account until the value of the payout is sufficient to meet requirements (a) and (b).
View Source

Examples of Mining Power in a sentence

  • Service Provider wishes to provide to Customer the Mining Power, subject to the terms and conditions of this Agreement.

  • Except as provided otherwise in this Agreement, Service Provider shall allocate any fixed power Costs among all of beneficiaries of the Mining Power (including Service Provider-owned miners and Customer), to the extent that Service Provider incurs Costs for Customer and other customers of Service Provider (or itself or its affiliates) on a pro-rata basis proportional with the power use among such beneficiaries.

  • Service Provider shall allocate Costs among all of beneficiaries of the Mining Power (including Service Provider-owned miners and Customer), to the extent that Service Provider incurs Costs for Customer and other customers of Service Provider (or itself or its affiliates) on a pro-rata basis proportional with the power use among such beneficiaries.

  • The Mining Equipment specified in the chart below is provided by Customer to Service Provider for the delivery of the Mining Power.

  • The availability of the Mining Power and, accordingly, the output of Coins may vary up to a maximum of 5%.

  • Bitmain S19j Pro 100 TH 7,200 4/14/21 Various $ 49,000,000 100 2,950 0.031 Total Number of Units 7,200 Units Total Kilowatts (KwHr) 21,240 KW Mining Power (TH) 720,000 TH The Parties have agreed to this schedule and/or amendments through their duly authorized officers as of the dates below.

  • Service Provider shall reasonably allocate Costs in a manner that is proportional with the Mining Power among such beneficiaries.

  • Total Number of Units ______________ Units Total Kilowatts (KwHr) _____________ KwHr Mining Power (TH) _____________ TH The Parties have agreed to this schedule and/or amendments through their duly authorized officers as of the signatures and dates in Exhibit F.

  • Customer may terminate this Agreement immediately if Service Provider fails to allocate Costs in a manner that is proportional with the Mining Power among the beneficiaries.

  • Service Provider shall reasonably allocate Costs among all of beneficiaries of the Mining Power (including Service Provider-owned miners and Customer), to the extent that Service Provider incurs Costs for Customer and other customers of Service Provider (or itself or its affiliates) on a pro-rata basis.

Related to Mining Power

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • Metering Point means, for meters that do not use instrument transformers, the point at which the billing meter is connected. For meters that use instrument transformers, the point at which the instrument transformers are connected.

  • Mining Rights means all interests in the surface of any lands, the minerals in (or that may be extracted from) any lands, all royalty agreements, water rights, patented and unpatented mining and millsite claims, fee interests, mineral leases, mining licenses, profits-a-prendre, joint ventures and other leases, rights-of-way, inurements, licenses and other rights and interests used by or necessary to mining and related processing operations.

  • Mining ▇▇▇ ▇▇▇▇ means (unless the context otherwise requires) the Mining ▇▇▇ ▇▇▇▇ and the amendments thereto and the regulations made thereunder as in force on 31st December, 1981;

  • Mining means the mining, extracting, producing, handling, milling or other processing of Products.