Galaxy Hashrate Mining Power Subscription Agreement
This Galaxy Hashrate Mining Power Sharing Service Agreement (the “Agreement”) is an agreement between Galaxy Hashrate Mining Power Sharing Platform (“Galaxy Hashrate” or “we” or “Company”) and the users (the “User” or “you”) who uses the services provided by Galaxy Hashrate and/or the official website of Galaxy Hashrate (the “Website”). By using the services provided by Galaxy Hashrate and/or the Website, you acknowledge that you agree to all the terms of this Agreement. If you do not agree to any term of this Agreement, please do not use the services provided by Galaxy Hashrate and the Website.
Ⅰ. Cloud Mining Power Packages and Fees
1.1 The cloud mining power package includes mining power fees, electricity, management fees, etc. The mining fee refers to the power of the mining machine as the unit, according to periodically lease to users, and calculate the mining power lease fee based on the mining machine market conditions and the length of the lease period. Those fees in market conditions and there are differences in order costs at different times; electricity costs refer to the actual power consumption per unit of mining power requires a prepaid power usage fee. The fee is subject to the time the order is generated. If due to national policies, the price of electricity is adjusted due to other reasons, the paid fees will not be affected, and the unpaid fees may be adjusted by the policy. The management fee refers to the related expenses of the Galaxy Hashrate mining power platform or data center for the maintenance of the entrusted mining equipment, including the loading and unloading of machines, operation, and maintenance of mining pools, maintenance of mining machines, power line losses, etc., which are deducted from the user's daily income.
1.2 The amount of fee payment is based on the amount when the order is generated on the Galaxy Hashrate platform. Due to the large fluctuations in the digital asset market, the market for mining machines fluctuates greatly. Please confirm payment carefully.
1.3 The method of payment and collection of fees provided on the order page of the Galaxy Hashrate website (including the receipt of Galaxy Hashrate Power commissioned Payment method) shall prevail. Among them, the cost of the mining power is a one-time payment of the entire cost, and the electricity cost is deducted from the daily income on a daily basis. The paid order shall prevail. After the user has paid the full amount displayed on the order page, the order will take effect. (The User is solely responsible for the accuracy of the payment, including but not limited to the destination account (digital currency wallet address), transfer amount, and other payment details. Any and all losses caused by or arising from an incorrect payment due to the user’s fault or error, such as transferring digital currency to the wrong wallet address, should be solely borne by the User. You should pay us before the end of the electricity bill. If you fail to pay the electricity bill overdue for 7 days in the first year and fail to pay the electricity bill overdue for 3 days in the following year, you will be deemed to have voluntarily given up the user's mining power. The platform will deduct the owed electricity and depreciation expenses, and return the residual value of the mining power to the user’s asset account.
1.4 Income Distribution:
1.4.1 After the package you rent is officially launched, we will settle the income distribution according to the actual yield of the mining pool and the hashrate value when the user's order is generated. The digital asset income is issued in the account balance of the user's registered account. When the user's digital assets reach the minimum withdrawal limit, you can apply for withdrawal. We will pay to the digital asset wallet address you provided within the specified time.
1.4.2 You understand and agree that as the mining power of the entire network will change, the difficulty of mining will change accordingly, and the profit of mining will also change. For specific daily income data, please refer to the real-time data of mining pools (poolin.com, f2pool.com, btc.com).
1.4.3 You understand and agree that because different batches of mining machines are connected to different mining pools, the user's actual income data will be, to a small extent, different accordingly. Due to technical failure of the mining pool or other unstable factors, the platform has the right to switch mining pools. After switching the mining pool of the user's order, the profit of the new mining pool will prevail.
1.5 Cost Changes: Management fees and electricity fees are based on market conditions (such as high water periods, dry periods, national policies, etc., the increase and decrease of management, construction costs and electricity fee, etc.), Party B has the right to adjust market prices, and Party A has the right to know. The actual prices are subject to Party B’s announcement.
II. User Registration
2.1 The user hereby makes the following statements and guarantees to the company, and these statements and guarantees will be deemed repeated each time the user uses the services provided by Galaxy Hashrate:
(1) If the user is a natural person: the user is at least 18 years old of age and have full civil capacity;
(2) If the user is an entity: the user is duly organized and validly existing under the laws of the jurisdiction of the user's organization or incorporation and, if relevant under such laws, in good standing;
(3) The user's use of the services provided by Galaxy Hashrate complies with the applicable laws and regulations in the user's country/region, and the user's use of the services provided by Galaxy Hashrate does not violate the user's obligations to any third party; and
(4) The user has the requisite power to use the services provided by Galaxy Hashrate and perform the user's corresponding obligations, and the Agreement and the corresponding purchase order(s) are valid and binding on the user.
2.2 When providing the registration data and information (the “Registration Information”), you hereby agree that:
(1) you will provide legal, truthful, accurate, and complete Registration Information;
(2) you will timely notify Galaxy Hashrate if there is any change to the Registration Information provided by you; if the Registration Information provided by you is illegal, untrue, inaccurate, or incomplete, you shall bear all the corresponding responsibilities and consequences;
(3) Galaxy Hashrate reserves the right to impose certain restrictions on your account and/or suspend or terminate your use of the services provided by Galaxy Hashrate based on the Registration Information provided by you to Galaxy Hashrate in accordance with Galaxy Hashrate’s compliance obligations and internal risk control policy;
(4) Unless obtained express written consent from Galaxy Hashrate, you shall only register for one account at Galaxy Hashrate;
(5) For compliance purpose such as KYC (know your customer) and/or anti-money laundering, Galaxy Hashrate reserves the right to request you to provide Galaxy Hashrate your PII (Personally Identifiable Information) and/or financial information; and
(6) You will be required to enter your username and password when using certain features of the services provided by Galaxy Hashrate. If you are unable to access your account for reasons such as you forget the password, Galaxy Hashrate reserves the right to request specific information from you, including but not limited t proof of identity; proof of residence; telephone number /Email proof and any identifiable activity information on the Website, such as transaction ID, order number, withdrawal information, etc.; however, you hereby agree that you will not share your username and/or password with any third party or allow any third party to access your account. Galaxy Hashrate is not responsible for any consequences and losses caused by your improper use of your account and/or password or any third party’s use of your account and/or password. If you believe that your username and/or password are known to any third party or that your account has been accessed by any third party, you should notify Galaxy Hashrate immediately.
III. Restrictions and Obligations
3.1 You shall not use the services provided by Galaxy Hashrate to engage in any activities that violate applicable laws and regulations. You shall not use the Services provided by Galaxy Hashrate
(1) Support, instigate or participate in any terrorist activities;
(2) Participate in any money laundering activities;
(3) Fabricate or distort facts, spread rumors, and disrupt social order;
(4) Promote or produce pornographic, violent and/or terrorist content;
(5) Participate in any other activities that violate applicable laws and regulations.
3.2 You agree to comply with all applicable laws and regulations, this Agreement and all rules and policies announced by Galaxy Hashrate from time to time regarding the use of the Website and the services provided by Galaxy Hashrate.
3.3 You agree that you shall fully assume the relevant tax obligations arising from the use of the services provided by Galaxy Hashrate.
3.4 You agree and represent that you are using the services provided by Galaxy Hashrate only for your own benefit and that you are not using the services provided by Galaxy Hashrate on behalf of others or for the benefit of any third parties.
3.5 You agree to contact Galaxy Hashrate immediately if you find or suspect any fraud or misconduct by any third party using the services provided by Galaxy Hashrate.
3.6 Unless obtained prior written consent from Galaxy Hashrate, you may not register multiple accounts on the Website in any circumstances. You shall not register multiple accounts in order to obtain profits, rewards or coupons.
3.7 You should not participate in any activities that may affect the services provided by Galaxy Hashrate and/or the security of the Website.
3.8 You shall not use any method (such as Proxy, Tor, VPN, etc.) to block your Internet traffic and IP addresses or use other technical services that may hide the user's real Internet connection.
3.9 Intellectual property rights of any content displayed on the Website, including but not limited to articles, pictures, news, materials, website structure, website layout, website design, unless otherwise specified, are entirely owned by Galaxy Hashrate or Galaxy Hashrate’s licensor (if any). The User shall respect the intellectual property rights of Galaxy Hashrate and Galaxy Hashrate’s licensor (if any).
3.10 The User shall neither engage in any activities in the name of Galaxy Hashrate nor use the information/data on the Website without prior written authorization from Galaxy Hashrate.
3.11 You hereby represent and warrant that your use of the services provided by Galaxy Hashrate will not negatively affect Galaxy Hashrate's reputation or cause Galaxy Hashrate to assume legal responsibility or other penalties, fines, and sanctions.
3.12 You hereby understand that the services provided by Galaxy Hashrate are not available to residents in the following countries or regions: Balkan Peninsula, Belarus, Myanmar, Côte d’ Ivoire (Ivory Coast), Crimea-Ukraine, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Venezuela, Zimbabwe, Hong Kong, China and Mainland China. The above list may not be exhaustive. Before using the services provided by Galaxy Hashrate, please confirm that your use of the services provided by Galaxy Hashrate is legal in your country/region. All legal risks and liabilities caused by or arising from the fact that it is illegal to use the services provided by Galaxy Hashrate shall be entirely borne by you.
3.13 If the User violates any provisions of this Section 3, Galaxy Hashrate shall have the right to immediately suspend or terminate the service provided to the User, and Galaxy Hashrate shall have the right to take all necessary legal means within the scope permitted by the applicable laws and regulations.
3.14 If the user voluntarily gives up the mining power, it means that the user is willing to accept the giving-up terms of Galaxy Hashrate. The 3‰ of principal shall be deducted as depreciation expenses for one day (number of days + 1), and the residual value after deduction of depreciation expenses and electricity expenses shall be returned in legal currency to the user’s personal account. If you give up the user's mining power during the seven-day cooling-off period, the principal will be returned to the account balance in full, and no profit will be issued; If the user has already withdrawn cash during the cooling-off period, the number of proceeds shall be deducted from the principal, and the rest shall be returned to the account balance.
IV. Risk Factors
4.1 You understand and acknowledge that there are risks associated with holding, trading, investing in digital currencies, and the use of digital currency related services. The risks listed in this Section 3.1 are not exhaustive. These risks, and additional risks that may occur now or in the future, may prevent you from obtaining any gains, may cause you to suffer financial losses, and may even terminate the services we provide:
(1) Use of any digital currencies or related product and service carries potential financial, regulatory, and other risks; Before using any digital currency or related products and services, you should confirm that you have sufficient knowledge and experience in the features and risks of blockchain technology, digital currency, and smart contracts. Your decision to participate in any digital currency activity and/or use of related services should be based on independent study and/or consultation with professionals as you deem necessary. Galaxy Hashrate assumes that when you use the services provided by Galaxy Hashrate, you are a professional who understands the digital currency industry and understands the risks of digital currency related products and services. This Agreement and any services provided by Galaxy Hashrate should not be deemed as Galaxy Hashrate’s providing you with investment advice;
(2) The value of any computing power-sharing plan (the “Service Plan”) provided by Galaxy Hashrate and the value of any digital currency may be affected by many factors not controlled by Galaxy Hashrate, including but not limited t mining difficulty and/or other changes in mining parameters/attributes, market price fluctuations in digital currencies, hardware (i.e. mining machines) obsolescence and hardware amortization, etc.;
(3) Due to the nature of the digital currency, the value of any digital currency may lose some or all of its value at any time. You are aware of the fact that the value of any digital currency can decrease rapidly (and even decrease to zero). Galaxy Hashrate is not responsible for any and all losses caused by the market price fluctuations of any digital currency;
(4) Galaxy Hashrate will maintain or upgrade the system periodically. You hereby confirm that you do not expect that your use of the Services provided by Galaxy Hashrate is continuous, without any interruption. Unless otherwise expressly prescribed, Galaxy Hashrate is not responsible for any and all losses caused by the suspension and interruption due to Galaxy Hashrate’s maintenance and upgrading of its system;
(5) No authentication or computer security technology is 100% secure and safe. You agree to bear all risks related to hacking or identity theft;
(6) You understand and agree that Galaxy Hashrate reserves the right to post, modify, and/or provide information related to our service through the Website, emails, customer service calls, SMS, and other official channels. Galaxy Hashrate is not responsible for information obtained through non-official channels of Galaxy Hashrate. If you have any questions related to the truthfulness of information sent in the name of Galaxy Hashrate, please contact us immediately.
V. Liability for Breach of Agreement
5.1 For any violation of this Agreement by the User (including but not limited t the User fails to pay the Plan Fee in time; the User's use of the services provided by Galaxy Hashrate is illegal in the country/region where the User is located, etc.), Galaxy Hashrate shall have the right to immediately suspend or terminate the services provided to the User and take all necessary legal means within the scope permitted by applicable laws and regulations, including but not limited to holding the User liable for the relevant loss suffered by Galaxy Hashrate.
5.2 If Galaxy Hashrate reasonably suspects that the User uses the services provided by Galaxy Hashrate in an illegal, fraudulent, or another improper manner, Galaxy Hashrate shall have the right to suspend the provision of the services to the User until the User can provide proof of compliance to Galaxy Hashrate’s satisfaction.