The present document ("Agreement") sets out the rights and responsibilities of the Xive Shared Mining Platform ("Xive","we", "us", "our") and the Client ("you", "user", "your") regarding the services, products, and content ("Services") provided by Hive Mining LLP ("Xive") and/or the Xive Shared Mining Website ("Website"). By accessing the Website and Services, you agree to all the terms and conditions laid out by the Agreement. If you do not agree with some or all of the terms of the Agreement, you should not use any of the Service.
1. CHANGES AND MODIFICATIONS
1.1. Xive reserves the right to amend, update, or modify the Agreement at any moment at its sole discretion and without prior notice. Any changes and updates will come into effect from the moment of publication of the amended version of the Agreement on the Website. You are responsible for reviewing the Agreement from time to time to get acquainted with any changes. By continuing to use the Website and Services, you agree to all the changes and modifications to the Agreement introduced by Xive.
1.2. If you do not agree to any of the modifications, you must stop using the Services immediately and notify the Xive customer service of the termination. If any of the Services ordered and paid by you are left incomplete or not provided in their entirety once your use of the Services is terminated, Xive will not be obliged to complete, finalize, or provide them.
1.3. Severability: if any of the clauses in this Agreement is deemed to be invalid, unlawful, or unenforceable, it will be considered severable and will not affect the rest of the clauses.
1.4. Applicable law: any disputes, conflicts of interest, or claims arising out of this Agreement or Services are to be settled by the parties by means of negotiation. If the parties fail to reach an agreement within 30 days, the dispute will be submitted to an arbitration court in Kazakhstan and resolved in accordance with the legislation of the Republic of Kazakhstan. The outcome of such arbitration will be final and binding on all the parties.
2. REGISTRATION AND ACCESS
2.1. By registering on the Website and accessing the services, you hereby acknowledge and ascertain that:
- You are at least 18 years old and in any case of majority age in your country of residence;
- The information you provided at registration is complete, truthful, accurate, and up - to - date;
- Your use of the Services does not violate any of the applicable legislation in your country, residence, or your legal obligations towards any third party.
2.2. If any of the applicable legislation in your country of residence or citizenship changes so as to make your use of the Services illegal, or if your use of the Services begins to violate your legal or contractual obligations to a third party, you must stop using the Services at once and notify the Xive customer service team. If any of the Services ordered and paid by you are left incomplete or not provided in their entirety once your use of the Services is terminated, Xive will not be obliged to complete, finalize, or provide them.
2.3. If any of the personal information provided by you during registration changes, you must amend it at once or notify the Xive customer service team of the changes.
2.4. If any of the information provided during registration is found to be incomplete, inaccurate, untrue, or outdated, Xive reserves the right to suspend your account and restrict your use of the Services for as long as required for you to amend your information. In case of your failure to do so, Xive may block (temporarily or permanently) or terminate your account.
2.5 You may open no more than 1 (one) account on Xive. If we find that you have more than one account, we may suspend, restrict, block, or terminate some or all of your accounts.
2.6. Xive reserves the right to demand that you provide personally identifiable information, such as your name, address, and phone number, for the purposes of compliance with the applicable KYC and anti-money laundering legislation. In case of your failure to provide the requested information, Xive may block (temporarily or permanently) or terminate your account.
2.7. Your login credentials (username and password) are required to access the Services. If you lose your credentials, Xive reserves the right to request that you provide additional information to verify your identity as the owner of the account, including (but not limited to) your name, surname, residence address, phone number, email address. Further, Xive may request proof of your activity on the Website, such as the IDs and amounts of your recent transactions, deposits, and withdrawals.
2.8. You are responsible for the safe storage of your login credentials. You must not share your username or password with any third party. If you suspect that your credentials may have been disclosed to, or acquired by, an unauthorized third party, you must notify the Xive customer service team immediately. Xive will not be liable for any damage, losses, or costs sustained as a result of unauthorized access to your account by a third party.
2.9. Xive reserves the right to reject any order for the purchase of a cloud hosting contract submitted by you. Only if your order is accepted, Xive will generate a binding agreement for use of processing power ("Cloud Hosting Contract"). Any order is to be considered pending until accepted or rejected by Xive.
3. XIVE CLOUD HOSTING SERVICES
3.1. Xive acts as an intermediary between you and mining pools. You can point the mining power of your cloud hosting contract to any pool that you want. The default option for a mining pool is the Xive pool. If you choose any other pool, you can verify the performance and revenue associated with the mining power of your ASIC in real-time on the website of your chosen pool. Information about recommended pools can be found in the FAQ section of the website.
3.2. Any mining revenue produced by your cloud hosting contract will be distributed to you by the mining pool. Xive is not responsible for, and has no control over, the distribution of mining revenue by third-party pools and will not be liable for a third-party pool's failure to pay you any rewards due.
3.3. The mining pool (both the Xive pool and third-party pools) will charge you a service fee, levied on your mining revenue. Xive is not responsible for and has no control over the fees charged by third-party pools.
3.4. Xive does not provide any guarantees that you will earn mining revenue. Mining proceeds are dependent on a number of factors, including mining difficulty, the pool's luck, cryptocurrency market conditions and prices, services fees charged by the pool, etc. Therefore, any information on potential yields and rewards published on the Website must be considered as an estimate. Xive will not be liable for any losses, damage, costs, or missed gains sustained in case the actual mining revenue differs from the projections on the Website.
4. PLACING ORDERS, CANCELLATIONS, AND REFUNDS
4.1. Xive supports various payment options, including cryptocurrency. When paying in digital currency, the default price of the Plan in US dollars will be converted into your chosen cryptocurrency based on the exchange rate at the time of purchase. You will then proceed to transfer the required amount in cryptocurrency to the blockchain address provided by Xive, plus any eventual blockchain network fees.
4.2. Xive does not provide the purchased mining machine’s serial numbers, purchase agreements or invoices. Upon the receipt of your payment, Xive customer service team will send a confirmation email stating that the payment was received. With Xive’s cloud hosting service, you purchase the cloud hosting contract not the actual mining machine.
4.3. You bear full responsibility for the accuracy of the digital currency transfer. Xive will not be liable for any losses, damage, or costs that may result if you enter incomplete or incorrect data when transferring cryptocurrencies, such as a wrong address or amount.
4.4. If you transfer a smaller amount of cryptocurrency than what is required by the terms of the cloud hosting contract, Xive may refuse to activate the cloud hosting contract until you have transferred the remainder of the payment. Conversely, if you transfer a larger amount of cryptocurrency than what is required by the terms of the cloud hosting contract, Xive may add the excess to your account balance to correspond to the payment already made.
4.5. If you decide not to complete your order, you can do so as long as you have not yet transferred the payment. After a certain period of time (as determined by Xive) your order will be classified as "timeout" and will not be processed. You will not suffer any penalty for not completing the order.
4.6. Due to the nature of cryptocurrency, it can take a significant amount of time (sometimes more than 24 hours) for your transfer to be confirmed on the blockchain. Xive reserves the right to delay the activation of the cloud hosting contract until your payment has been confirmed.
4.7. In case of any disputes regarding payments, you must contact the Xive customer service team within 14 days after submitting the payment and provide proof of payment. Such proof can consist of the Xive order number, transaction ID, amount, blockchain addresses of the sender and the recipient, and/or an account statement, depending on the payment option used. Xive reserves the right to refuse to process any payment-related complaints submitted later than 14 days after executing the payment. If the proof is found to be insufficient, or we have grounds to suspect that a cloud hosting contract was activated but not duly paid for, we may request you to provide additional proof of payment. In this case, you are required to submit the information required within 14 days of receiving the request from Xive. If you fail to provide sufficient proof of payment, your complaint will be rejected.
4.8. If we have grounds to suspect that a cloud hosting contract was activated but not duly paid for, we may request you to provide additional proof of payment (see 4.6) within 14 days upon receiving the request. If you fail to provide sufficient proof of payment, your current cloud hosting contract can be adjusted or canceled.
4.9. To the extent permitted by the applicable laws, all cloud hosting contracts (including the price of the mining machine, corresponding VAT, hosting fee, service fee and repair fee) are final and non-refundable unless expressly stated otherwise. Xive reserves the right to provide a refund at its sole discretion. Even if we agree to process a refund for you, we are under no obligation to agree to further refunds in the future.
4.10. Xive reserves the right to adjust the prices of the cloud hosting contracts at any moment and at its sole discretion. Hosting fees for cloud hosting contracts that are already active may also be affected. If the price of a cloud hosting contract you have purchased is lowered, you are not entitled to any compensation for the difference.
4.11. Upon successful receipt of the payment for the cloud hosting contract, mining is expected to start within 10 days from the date of the payment or at the date specified within the cloud hosting contract.
5. TERMINATION OF CLOUD HOSTING CONTRACTS AND DISCARDING OF MINING MACHINES
If any of the following conditions is met, Xive has the right to terminate the cloud hosting contract:
- If you fail to pay the hosting fee within 5 days after the bill for hosting was sent, the mining activity will be terminated.
- If you fail to pay the hosting fee within 30 days after the bill for hosting was sent, Xive will terminate the cloud hosting contract and the mining machine will be returned to Xive.
- If you fail to pay the hosting fee within 5 days after the bill for hosting was sent more than twice within a calendar year, Xive will terminate the cloud hosting contract and the mining machine will be returned to Xive.
- If the mining farm is not available for a significant period of time due to power, site, network or other reasons, Xive can decide that the hosting needs to be terminated.
- Due to force majeure or other triggering events, Xive can decide that the hosting needs to be terminated.
- Xive will discard the mining machine if it experiences irreparable malfunction, wear, age, or damage during the mining process.
If you decide to terminate your cloud hosting contract:
- You will not be refunded any of the following: mining machine’s purchase price, corresponding VAT, hosting fee, service fee or repair fee, and the mining machine will be returned to Xive.
- To terminate the cloud hosting contract, you must send a notification email to Xive’s customer service team and expressly state your wish to terminate the cloud hosting contract.
- You do not have the right to resell the cloud hosting contract or the mining machine to other people or request Xive to ship the mining machine to other locations.
6. PRICING OF XIVE CLOUD HOSTING CONTRACTS
Make sure to read the terms of the specific cloud hosting contract before purchasing it. A cloud hosting contract includes the following charges:
- Mining machine’s purchase price
- Value Added Tax (VAT)
- Hosting fee that includes the following costs: 1) miner hosting cost, including electricity costs; 2) regular mining machine maintenance cost, including labor costs; 3) other expenses, including the cost of shelf and off-shelf fee and transfer logistics fee. Hosting fees are billed at the beginning of each calendar month and must be paid within 5 days from the date the bill was issued. Hosting fees are paid in arrears after a service has been provided. Please note that the price of a cloud hosting contract includes a hosting fee deposit to cover the first 36 days of a user’s mining activity. As with any equipment, your mining machine may be subject to repair and maintenance. Xive will not charge hosting fees on non-working mining machines.
- Service fee refers to the technical service fee incurred by Xive when providing a complete package of cloud hosting services and resources. The service fee is calculated as a percentage of the actual hashrate generated by your mining machine.
- Repair fee. You will receive a warranty period of 90 days since the cloud hosting contract’s activation. Any repair fees incurred during the warranty period will be borne by Xive. After the warranty period expires, you will pay the repair fee on a case-by-case basis depending on the extent of the required repair. Alternatively, you can choose to purchase an annual insurance package equating to approximately 5% of your mining machine’s purchase price and have the insurance cover the incurred repair fees. The insurance package must be renewed on a yearly basis. The price of the insurance package may change from year to year.
Xive reserves the right to adjust the prices of individual cloud hosting contracts from time to time in accordance with the changes in the total hashrate of the network, mining difficulty, and cryptocurrency prices. Hosting fees for cloud hosting contracts that are already active may also be affected.
By accessing the Services, you acknowledge and agree to the following:
- Cryptocurrencies and blockchain are new and untested technologies subject to high risks, including regulatory risks, inflation risks, volatility risks, technological risks, the risk of cyberattacks, hardware obsoleteness and hardware amortization etc.;
- Any digital currency you hold, including the mining revenue yielded by Xive cloud hosting contracts, can lose part or all of its value as a result of market fluctuations and for other reasons at any time;
- The amount of cryptocurrency yielded by a cloud hosting contract is affected by numerous factors, such as mining parameters, market conditions, hardware used, internet connection, local regulations, etc. Xive does not provide any guarantees that you will earn mining revenue;
- If you buy, sell, hold or use computing equipment to mine digital currency, it may lead to a large risk of financial loss and it is not suitable for most people. When we provide you with the service, it is assumed that you are a professional with good knowledge of the digital currency industry and understanding of the risks associated with digital currency-related equipment and services (including without limitation "Cloud Hosting Service"). Any information (including service description) provided by Xive to you shall not constitute any investment advice we offer to you.
- Cryptocurrency remains unregulated or insufficiently regulated in most jurisdictions. Thus, your cryptocurrency holdings are not protected by any legal authority;
- You will not use the Services if cryptocurrencies, crypto trading, and/or crypto mining are illegal in your country of residence;
- You must have a blockchain wallet to receive your mining rewards. If you lose the password, PIN, private key, or seed phrase necessary to access your wallet, you may permanently lose access to all the cryptocurrency contained therein;
- Cryptocurrency transactions are irreversible by nature. If you make a cryptocurrency transfer by mistake or to a wrong address, you will not be able to cancel the transfer or recover your funds;
- The mining pool that performs the mining for you may be subject to regulatory action that can force it to restrict or terminate its operations. In this case, you can lose all the mining rewards you have accumulated in that pool;
- Legal authorities in your country of residence can take regulatory action restricting the use of cryptocurrencies or banning them outright at any moment. In this case, you may lose the ability to use the Services or any accumulated rewards;
- Legal authorities in the jurisdiction where Xive is registered can take regulatory action against cryptocurrencies and blockchain companies, making it impossible for Xive to operate. In this case, you may lose the ability to use the Services or any accumulated rewards;
- Xive does not provide any guarantee of uninterrupted, correct, or continuous operations of the Website or Services in the future;
- If mining machines' hashrate drops to zero due to insufficient power supply or maintenance of the mining pool, or our services are interrupted or terminated by factors beyond control, Xive will not be liable for any relevant compensation.
- You understand that if a significant drop in the market price of digital currency causes Xive to terminate the cloud hosting service and liquidate mining machines according to Xive Cloud Hosting Service Agreement, you will likely suffer financial losses.
- The information published on the Website does not constitute an offer of investment, securities, commodities, or any other financial instruments;
- The information published on the Website must not be considered financial or investment advice. In case of any doubts concerning Xive cloud hosting contracts, seek assistance from a professional financial, investment, or tax advisor. Xive will not be liable for any loss of profits, damage, costs, damage and loss of information, or lost gains that can arise from your use of the Website or Services.
- In any case, Xive's total liability to you under the terms of this Agreement cannot exceed the total amount of service charges paid by you to Xive.
- Xive reserves the right to make modifications to its Services at any time and at its sole discretion. Any such modifications may be announced via notifications on the Website, email, and other channels. Xive will not be liable for any loss, damage, costs, or lost gains that can arise from your use of information about the Services obtained from unofficial channels.
By using the Services, you declare and guarantee that you have a sound theoretical and practical understanding of cryptocurrency mining and its associated risks. Xive will not be liable for any loss, damage, costs, or lost gains that can arise as a result of your lack of understanding, knowledge, or experience with cryptocurrency, blockchain, and mining.
8. USER'S OBLIGATIONS
You hereby acknowledge, declare and guarantee that:
- You will not use the Website and/or the Services to engage in any illegal activities, including, but not limited to, money laundering, financing terrorism, fraud, undermining the existing laws, spreading pornography, promoting violence, insulting other users etc.
- You will only use the Services for your own benefit. It is forbidden to open accounts and use the Services on behalf of others;
- You will immediately inform Xive customer service team about any suspected wrongdoing, fraud, or illegal activity carried out by other Xive users via the Website or Services;
- You bear the full responsibility for verifying if your mining revenue is subject to taxation in your country of residence, and for paying any and all required taxes on this revenue. Xive will not act as a tax agent on your behalf;
- You will not try to steal, or obtain in any other way, login credentials and other information pertaining to other users;
- You will not maintain multiple accounts on the platform;
- You will not use any of the content or data published on the Website for commercial purposes. Xive has full rights over all the intellectual property published on the Website, including, but not limited to, images, articles, design, logo, layouts, blog posts, news articles etc.
- You will not use any applications, protocols, or technology to conceal your IP address, location, or ISP, such as VPN and proxy servers;
- You will not use the Website, Services, or the mining system to attack the Xive network or in any way that can produce any negative consequences for Xive, including, but not limited to, damage, loss, costs, legal penalties, fines, sanctions, and reputational damage.
- You will not use the Services if you reside in any of the following Restricted Jurisdictions: Balkans, Belarus, Côte D’Ivoire, Crimea, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, Myanmar, North Korea, People's Republic of China (including Hong Kong and Macao), Sudan, Syria, United States of America (including all its dependent territories), Venezuela, Zimbabwe.
9. TERMINATION OF SERVICE
9.1. Xive reserves the right to suspend or terminate your account and your active cloud hosting contracts if you violate any of the terms of this Agreement, or if we have reasonable grounds to believe that you have used the Services to conduct illegal activity or commit fraud.
9.2. If your actions lead to damage or additional costs for Xive (including its employees and management, partners, associates, subsidiaries, affiliates, or successors), including, but not limited to, fines, claims, losses, reputational damage, attorney fees, court fees etc., you will be obliged to reimburse Xive for these losses or costs.
9.3. Xive will not be held liable for any damage, loss, costs, lost profits, loss or damage of information etc. that can result from you breaching any of the terms of this Agreement.
10. LIMITATION OF LIABILITY
10.1. Xive does not provide any guarantees that the hashrate included in your cloud hosting contract will remain stable throughout the contract’s duration. The cloud hosting contract features an estimated average, while the actual hashrate will fluctuate.
10.2. The computing power plan provided by Xive corresponds to real computing power. The fluctuation of real computing power is inevitable. Xive does not promise that it will run 100% stably. Xive will not compensate for any other situations (including but not limited to: cryptocurrency price, inherent attribute change of cryptocurrency, the network difficulty, lucky value of mining pool, service fee ratio of the mining pool, etc.).
10.3. Xive will not be liable for any lost gains, damage, or costs that may arise if the hashrate falls to zero for reasons that lie completely outside of our control (force majeure), such as war, natural disasters, actions taken by the government, major power outages, strikes, civil unrest, global pandemic or state of emergency in the country of operation.
10.4. The Website may contain third-party links. Xive is not responsible for the contents of the web pages to which such third-party links refer and does not provide any guarantees that such web pages are safe. Xive will not be liable for any losses or damage that can arise from you accessing such pages via the third-party links on the Website.