SinoHash is a Company incorporated in Isle of Man and headquartered in Beijing. It currently operate two mining facilities in China's Sichuan Province.
User is any individual or organization that has legal right to purchase hardware and have it hosted in P.R. China according to laws of his own jurisdiction.
User wishes to purchase equipments and have them placed in the SinoHash facilities and operate under the custody of SinoHash.
SinoHash has agreed to provide space, staff and other necessary conditions to maintain these equipments to run in optimal conditions.
The following definitions and rules of interpretation in this clause apply in this Agreement.
Agreement: this literature that describes the relationship between SinoHash and Users.
Sino Hash Service: Computer hardware hosting
Business Day: a day other than a Saturday, Sunday or public holiday in China.
Sino Hash Data Center: Sino Hash’s 800KW data center located in Leshan, Sichuan Province and more still in development
Assets: Any computer equipment that Users intend to have placed under the care of Sino Hash and have them serviced at the Data Center.
Hosting Cost: The amount of fund that User undertakes to pay Sino Hash for any KWH the User’s Hardware consumes.
Payment: The cryptocurrency that users receive from the mining pools that he / she select for his / her hardware.
Termination: The Agreement expires the moment when the outstanding debt that exceeds the value of the users’ Assets.
Insurance: Sino Hash will dedicate an initial fund of 100BTC as Insurance Fund. This will be added by 30% of the revenue. The purpose of the fund is to reimburse users in case unavoidable disastrous incident, such as theft, earthquake and etc.
Auditor Board: Sino Hash would periodically invite independent reputable members of the community to visit its Data Center.
User undertakes and agrees with SinoHash to either (a) purchase or (b) entrust SinoHash to purchase on their behalf and have them sent to SinoHash facilities.
SinoHash undertakes to update users the shipping status upon inquiry, and bring the Hardware to operation within three Business Days upon reception.
It also undertakes to direct the Hardware to a Mining Pool account designated by the user.
During the duration of the Service, SinoHash undertakes to ensure security and soundness of the Assets, Internet connectivity to the effect that uptime rate no lower than 95% is achieved.
SinoHash undertakes to, upon instruction from Users, help customers to sell their Assets on the secondhand market at the Best Available Price and return the fund to the Users within two Business Days.
SinoHash undertakes to make Zero profit from purchasing or selling User’s hardware. Its profit will solely come from the difference between the Hosting Packages and the actual cost incurred during its operation.
In an event of Hardware mechanic failure, Sino Hash undertake to ship the affected hardware back to the manufacturer at cost born by the user themselves or with consent have them repaired at third parties.
SinoHash undertakes to dedicate a portion of its profit to establish an insurance fund.
SinoHash undertakes to publicize its operation information through its monthly newsletter and Blog.
SinoHash undertakes to inform Users with any new development that may affect the investment, including government policy of both the central level and local level.
SinoHash will develop local Partners who is willing to accept standard and in return for Users Miners, in order to achieve a better economy of scale.
Users of the first year will share a pot of 5% profit of Sino Hash as a reward for taking higher risk associated to being earlier users. The fund will be distributed 12 months after the official launch of the Website. The amount will be in proportion to their investment and length.
SinoHash undertakes to use best effort to compensate its users had its operation cease to continue due to events of disastrous outcome, including but not limited to liquidating its infrastructure and distribute the fund among affected Users.
SinoHash undertakes to use best effort to protect users' privacy. The service only asks enough information necessary for setting up mining pool accounts.
SinoHash service is built on top of the Bitcoin blockchain. SinoHash is not responsible for loss caused due to technical failure of the Bitcoin blockchain, including but not limited the break of SHA 246 or heretofore undiscovered defects.
Bitcoin mining has uncertainties. In case of natural disaster, and other unpredictable events, such as miners with far superior performance available to us, or other Acts of God we may not be able to be able continue to operate. The company, however, undertake to honor its obligations to customers as long as it remains solvent.
SinoHash choose, in its sole discretion, what security measures to implement to secure the safety of the user’s fund and information from accidental loss and from unauthorized access, use, alteration or disclosure. However, SinoHash cannot guarantee that unauthorized persons will never gain access to your account through means beyond control, and the user acknowledge that he provides his information at his own risk.
SinoHash shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, scareware, spyware, Trojan, worms, phishing, spoofing or other attacks or downtime of mining pools.