We are a team of Passionate Mining experts. Over the past 3 years, we have done and managed Multi-Million Euros of investments in Mining.
Frequently ask questions
We have tried to make a complete FAQ. If you have any questions please feel free to contact us.
HOW DOES BITCOIN MINING WORK WITH MINING ELITES?
1. You order the latest mining equipment (ASIC, GPUs etc) with us.
2. We source hardware directly from manufacturers for you. If the manufacturer requires a pre-payment then the client needs to prepay to us as well.
3. Hardware prices include sourcing, shipping, customs, power unit, cables and testing.
4. Once the hardware is installed and ready to go live, the client is asked to register in the mining pool to create a unique account. With this account you can keep track of your performance.
5. All-in pricing: Hosting Fees include everything required for profitable mining (electricity, infrastructure and maintenance costs) but does not include any potential repairs in case of hardware defects.
6. 100% of mining rewards go to the Client: Miners mine directly into clients wallet and Client receives daily 100% of mining rewards. Mining Elites never touches the coins.
Can I visit your facility?
Yes you are welcome to visit our offices as well as our data center.
Where is your data center located?
Our current data center are in Kazachstan, because:
- low-cost access to energy
- natural cooling
- political stability
- strong legal security
- well educated IT staff
- plenty of land available for expansion
What is your total hosting capacity in MegaWatts?
Our current energy capacity is around 20 MegaWatts. We are in the process of building additional data centers in order to reach a capacity of several hundred MegaWatts.
What payment options do you accept?
We currently accept BTC and Bank Wire Payments in EURO.
Which coins can I mine?
We mine Bitcoin and focus on Bitcoin only.
Is there a setup/installation fee?
This is included in the purchase price.
Will I have remote access to my miner?
Yes, you can monitor your performance 24/7.
Will you monitor miner performance too?
Yes, our custom software monitors all miners permanently and can reboot them automatically which solves the vast majority of incidences. Additionally if hands-on actions are needed our on-site support team takes care of it.
Is there a hosting agreement to sign?
Yes, we will provide you with a service contract.
Do you offer technical support?
Yes, If your miner fails, we will reset it at your request.
If your miner does not reset, then we will advise you on the costs of any repair involved.
Do I get compensated for downtime?
If your miner goes offline for an extended period and it is not bootable, you will be entitled to compensation of unused power. This credit will be applied to your hosting bill.
What is my expected return on investment?
Mining profitability is determined by the underlying currency price, respective difficulty rate and overhead costs. This can be calculated for you by us.
What wallet do you recommend?
We personally use blockchain.com
How are you different from others?
- We provide Mining as a service.
- We source and host the latest mining equipment for clients. Our customers own the miners, we run them in exchange for a mark-up of the electricity usage.
- We are transparent and simple. We offer all-in pricing for our services with no hidden fees.
- We never hold your coins. Since customers own the hardware, the machines mine directly into their wallets. Our customers receive 100% of the mining rewards.
What is included in the hardware price?
Our hardware prices include sourcing, shipping, customs, import tax, quality inspection, power supply, cables, racks, software installation and testing.
Many quotes that you receive from other suppliers are not all-inclusive. They are typically just for the mining unit only.
Who owns the machines if I buy from you?
As you purchase the miners, they are legally yours. This means that you receive 100% of the mining proceeds directly into your wallet. Due to security reasons, we never touch your coins.
Additionally, once your hosting contract expires or is cancelled, you may ship your miners to a different location of your choice.
Why is there a delivery time?
Due to high demand, the most powerful and energy efficient mining equipment needs to be pre-ordered from the manufacturer. Typically, miners that are offered from stock are older, underperforming versions. Due to our close, long-term relationships with mining equipment manufacturers, Mining Elites can get a production estimate directly from the factory. We then pass on the payment terms to you and take care of sourcing, shipping, inspections and installation. Unfortunately, Mining Elites has no influence on delivery times and we cannot offer any warranties.
Which miner should I buy?
If you want to mine Bitcoins, you need to buy ASICS (hardware that is created for bitcoin mining only). It’s in our benefit to provide you with the newest hardware on the market.
Do you offer a refund?
No, once a purchase has been made, there is no refund available. The purchase terms are set to us by the hardware manufacturer, and these also apply to you as our client. We have to prepay for orders with the hardware manufacturers to fund the production of the latest equipment and therefore cannot cancel orders or offer a refund.
Can I host miners that I already own?
No, unfortunately the demand is so high for placement, that we only allow our own clients.
Do I prepay for hosting?
Yes, we will provide you with a service contract.
What happens if I miss a payment?
We will provide power for one business day before the machine(s) are turned off. This will allow you time to make payment arrangements.
How secure is your facility?
With regards to the security of our facility, there are two factors to consider:
Physical risks: We operate thousands of miners under strict security. Our miners are protected by barbed wire, security guards, an alarm system and securely locked data centres. The time to uninstall, unplug, box and load miners on a truck is also lengthy. As soon as one cable is unplugged an alarm will be activated. We are not liable for damage or theft.
Digital risk: Our system recognises immediately if a cable is plugged into our miners, and there is no WiFi available in our data center.
What kind of cooling system do you have?
We use a free cooling concept. Meaning we don’t use air-conditioning units that consume electricity, we use fresh air which is cool enough to cool the system due to the location.
Can I check the power consumption?
No, that is not possible.
When do I receive my payout?
Daily. Your miner is setup with your wallet ID. 100% of the mining proceeds go straight into your wallet.
What is a hashrate?
A hashrate is the unit of speed by which the mathematical equations to solve and generate cryptocurrency blocks and units are measured.A higher hashrate is more beneficial as it gives you a higher chance of discovering the next block and getting rewarded