3. Contract details
To access all the cloud mining contracts you've purchased, click on your username, choose My Contracts and then select one of the contracts. You can have as many active contracts as you wish.
The key parameters for each contract are power, period and price.
Power is the hashrate you have paid for. What you’ll see on your contract details page are three average hashrates: 5-minute, 30-minute and 24-hour. They will differ somewhat, because every mining device and every mining pool have some downtime. If by the estimated expiration date of your contract the average 24-hour hashrate is lower than the one stated on the contract, mining will continue for as long as needed to compensate for the difference.
Please note that Xive can't be held liable for any discrepancies between the expected and actual average hashrate that were caused by hardware breakdowns or network issues on the side of the seller or your pool.
You should keep in mind the potential downtime when choosing a cloud mining offer. If you buy a 24-hour contract, there's always a risk that a difference between a stated and actual hashrate will affect your earnings. For contracts of 7 days and up, the effect is usually almost unnoticeable.
Once you've paid for the contract, it will take our system a few minutes to switch the seller’s device from our own Xive pool to yours. After that the seller will start mining on your behalf. On average it should take no more than 10 minutes for mining to begin.
Estimated end date
This is the date and time when your contract should expire if there is no downtime. It's originally determined at the moment of purchase. For a 24-hour contract, the estimated end date is exactly 24 hours after the moment of activation. If you compare this date with the Start date, you'll see a difference that normally doesn't exceed 1 hour. This difference represents 2 things:
- The time it took the seller to set up their hardware and begin mining for you;
- The downtime that will occur throughout the contract period.
Xive automatically adjusts your contract duration to compensate for the downtime caused
by the seller.
The same goes for cases where the mining hardware is working but the hashrate is lower
than what you paid for.
Example 1: you bought a 24-hour contract for 10TH/s. In total you should receive 10*24=240(TH/s)*hours. (Think of these units as the kilowatt-hours of an electric bulb.) At some point, a 2-hour outage occurred. At the end of the contract, you’ll get 2 hours extra as compensation.
Example 2: you bought the same 24-hour contract for 10TH/s, but the resulting average hashrate was just 9 TH/s, so in total you received 9*24=216(TH/s)*hours. The contract will stay active for as long as necessary to provide the missing 24(TH/s)*hours. If the miner continues running at 9 TH/s, this means 24/9=2.67 additional hours.
For instance, if the seller's ASIC experiences a power outage and stays down for 30 minutes,the estimated end date will be pushed forward by 30 minutes. If downtime occurs because of some problem on the pool's side, it should be the pool to compensate you with additional shares. Read the Terms and Conditions of your pool to find out if it offers such compensation.
The finish date will only appear on your contract details page once the seller finishes mining on your contract. The progress bar shows the percentage of the contract period that has already transpired since the start date. In this example, you are just over 10% into your contract period.
Note that Xive doesn't have access to your mining reward. To learn how much you've earned, you'll need to consult your account stats in the mining pool dashboard. Once the accumulated reward reaches the threshold you've set, the pool will send it to your wallet. Important! The seller doesn't have access to your rewards; you get paid directly by the pool.
On the same dashboard page, you'll find the average hashrates. It's a good way to verify that the hashrate data on Xive is correct. As you can see in the screenshot above, the average hashrate reported by the pool is almost identical to the one in the Xive stats (the difference is due to the time it takes for Xive to receive pool data from the seller).