S9 Contract Abstract
- Management Fee：6%
- Contract Hashrate：1.0 TH/s
- Electricity Cost：0.071 USD/kW·h
- Quarterly power failure risk fund：3%
- Est Daily Revenue：0.00006068 BTC/Share
- Settlement Time：Daily, 14:00 GMT +8
- Period：Open-ended contract, till unprofitble for 10 continuous days
- 1. Antminer S9
- Antminer S9 is currently the most advanced and power-efficient Bitcoin mining rig which guarantees the longest life cycle for a miner. Visit Antminer’s site for more details.
- 2. Hashrate unit
- 1 Th/s per share.
- 3. Electricity Cost
- Electricity cost is 0.071 USD/kW·h.
- 4. Service Charge
- 6% of mining income will be charged as management fee, which is used for farm maintenance, deployment, staff expenses, emergencies, risk prevention etc; And 3% of mining income will be charged as Quarterly power failure risk fund to guarantee the miners’ 24 hours stable operation and payout. If there is no regional blackouts and no other power failure caused by force majeure, Suanlitou will be return the fund to customer in the form of candy quarterly.
- 5. Mining income
- We mine in the partner BTC.com pool and adopt FPPS (Full PPS) settlement mode. Compared with the traditional PPS settlement mode, FPPS allocates all benefits including miners fee and can be increased by 10% to 20%. The mining income will be the theoretical FPPS yields which won’t be affected by the operational conditions of miners.
- 6. Revenue settlement
- The estimated daily income is calculated by the actual operation of the cryptocurrency network. It will change dynamically, only for reference. The mining income, deducted by management fee and electricity cost will be the actual yields, electricity cost is caculated by the real-time exchange rate of USD/Bitcoin. The hashrate revenue is recorded by minute, we payout previous day’s profit at 14:00 GMT+8 daily.
- 7. Redemption of miners
- To guarantee efficiency, all miners will run in high-standard facilities and mine in BTC.com pool. No pool selection service available. Suanlitou provide redemption and trade service.
- 8. Termination of contract
- The contract will be terminated automatically when there’s zero actual yields for 10 consecutive days. The customers can require Suanlitou to recover the miner according to the residual value.
- 9. Warnings
- Price fluctuation is frequent for cryptocurrency and the mining difficulty will be adjusted frequently. Price drop and increase of difficulty will lead to a drop of mining income. Suanlitou won’t promise a 100% ROI whether on cryptocurrency or fiat money terms. Please evaluate the risks you can handle before investing in cryptocurrency mining
Suanlitou reserves the rights of final explanation for this contract.
- Settlement policy
- Suanlitou will automatically settle the revenue at 14:00 GMT +8 and the profit will be distributed to your account daily. You can check the daily bill at the Assets page.
② Settlement formula: Mining gross profit - (Management fee + Electricity cost + Quarterly power failure risk fund) = Net profit. Suppose you have 50T hashrate, and the standard output per 1T is 0.0001538 BTC on Jan 1st 2018, deducting the electricity cost, 6% management fee and 3% quarterly power failure risk fund, the net profit of 1 Th/s is 0.000121062 BTC, so your net profit is 0.000121062 BTC * 50T = 0.0058224 BTC on Jan 1st 2018.
- About cloud mining
- 1. Do you charge any fee for cloud mining contract?
Yes. Besides the contract purchase expenses, we will charge daily electricity cost, and 6% management fee and 3% quarterly power failure risk fund from your mining income.
2. What is management fee?
Management fee is used for farm maintenance, deployment, staff expenses, emergencies, risk prevention etc.
3. What is quarterly power failure risk fund?
In order to ensure the stability of trade market operation, 3% daily income will be charged as quarterly power failure risk fund. If there is no regional blackouts or no other power failure caused by force majeure, Suanlitou will be return the fund to customer in the form of candy quarterly.
4. Why the prices are different for each batch?
The miners we purchase for cloud mining contracts will have different prices due to changing purchase price, electricity cost, mining difficulty and market price. As a result, the price for each batch will slightly fluctuate.
5. Where are your mining farms?
Our farms are located in Inner Mongol, Sichuan, Sinkiang of China and Canada with the low electricity cost.
6. Which pool are you using for cloud mining?
All of our miners are mining in our partner BTC.COM pool, BTC.COM pool adopts FPPS settlement mode which allocates all benefits including miners fee, it can increase the profit by 10% to 20% than PPS and guarantee higher mining profits.
7. Why don’t you mine yourself if cloud mining is profitable?
Suanlitou has holding a operating principles since the beginning of its establishment, "Let more people easily participate in blockchain - this fancy and profitble industry, have fun and profit.", and has also been guiding by the core concept "Refuse non-full distribution of benefits, open and transparent operation for all customers". As our customers become more and more, the expansion of maintenance and operation becomes higher and higher, while our capital is limited. So we give away a part of our mining profits to our customers and develop our company to serve more customers with a higher quality service. We upgraded our service by adding hashrate trade market in 2018, and will improve our service continuously, try to build a "Customer oriented, world-class hashrate platform". That is what we did and we are doing, and we hope our customers will mine more with happiness!
- Purchase & Profit
- 1. How to buy a cloud mining contract?
Futures purchase: Choose and place order of cloud ming contract(minimun amount 1 Share) and pay in Hashrate page as website guiding.
2. How to calculate my mining income?
Mining gross profit - (Management fee + Electricity cost + Quarterly power failure risk fund) = Net profit. Suppose you have 50T hashrate, and the standard output per 1T is 0.0001538 BTC on Jan 1st 2018, deducting the electricity cost, 6% management fee and 3% quarterly power failure risk fund, the net profit of 1 Th/s is 0.000121062 BTC, so your net profit is 0.000121062 BTC * 50T = 0.0058224 BTC on Jan 1st 2018.
4. When will you allocate the mining income?
The daily mining income will be paid to your account at 14:00 GMT +8 the next day; Futures hashrate start to generate revenue from 00:00 GMT +8 online day and will pay on 14:00 GMT +8 the next day.
5. Why does daily mining income fluctuate all the time?
Mining difficulty of the network will change all the time and market price is fluctuating too, which will lead to change of electricity cost. As difficulty keeps increasing, the mining income will be declining in the long run. So the sooner you start mining, the more cryptocurrencies you will mine.
- Contract term and ROI
- 1. How long can I get my money back and how much more can I mine?
Contract is open-ended. Based on the current mining difficulty and market price, take S9 contract as an example, the estimated recovery time will be around 3 to 12 months. Mining income after that will be your pure profits. But we won’t guarantee 100% ROI or profitability as market swing is hard to anticipate. You need to evaluate possible risks for investment. But compared to speculation, mining will be a more sustainable and lasting investment in cryptocurrency.
2. How long is the term for cloud mining contract?
Cloud mining contract is open-ended term as long as it is profitable.
3. Why would a contracts be terminated if it is on open-ended term?
Even though your contract is on open-ended term, your mining profit may not be able to cover electricity cost and management fee due to drastic difficulty increase or price fluctuations. The contract will be terminated automatically when there’s zero actual yields for 10 consecutive days. Suanlitou has the right to terminate its cloud mining contracts, if such termination has arisen from force majeure, directly or indirectly owing to any causes or circumstances beyond its control, including governmental orders or restriction, war, warlike conditions, revolutions, strike, lockout, fire and flood.
4. What would happen to those miners after termination
After the termination of the contract, Suanlitou has residual value program: The user can entrust the company to sell at the market price, or take the miner by customers themselves, customers need to pay for corresponding remove and freight costs.
5. Can I terminate or redeem my contract before termination?
Customer can terminate contract and redeem miner ahead of the contract schedule, please contact customer service for early termination scheme details.
6. Will my money be at risks if I invest in cloud mining?
As a cryptocurrency investment option, cloud mining contract is also of certain risks. Price fluctuation is frequent for cryptocurrency and the mining difficulty will often be adjusted. Price drop and increase of difficulty will lead to a drop of mining income per Share. Suanlitou won’t promise a 100% ROI whether in cryptocurrency or fiat money terms. Please evaluate the risks you can handle before investing in cryptocurrency mining.