Terms of service

Terms of service
Last updated 26 October 2013

Introduction
Bit-Miner.com is a virtual identity that represents both itself and its profits (the "Site"). Bit-Miner.com's business includes hashing (mining) of bitcoins using ASIC devices. We give our customers to get profit in bitcoins using pieces of our computation assets that we call 'shares'. These terms of service govern your use of this website; by using this website, you accept these terms of service in full, as well as other provisions, mentioned in the FAQ. If you disagree with these terms of service or any part of these terms of service, you must not use this website.

Restricted access
Access to privat areas of this website is restricted. Site reserves the right to restrict access to other areas of this website, or indeed this entire website, at Site's discretion. If Site provides you with a user ID and password to enable you to access private areas of this website or other content or services, you must ensure that the user ID and password are kept confidential. Site may disable your user ID and password in case of abuse.

Shares
When buying shares you pay for the right to receive dividends from the ownership of shares. Time of shares ownership is not limited. The price of share includes the proportional cost of equipment, any taxes, mortgage, insurance, mining equipment system administration, mining pool fees, equipment maintenance and repair.

Profits
Profits will be determined after subtracting 15% operating fee for the following expenses from income: mining equipment space rental, utilities, bills for electricity and internet access and any other necessary direct miscellaneous mining equipment operational expenses. The remaining amount will be considered shareholder earnings ('Dividends').

Dividends
Dividends will be paid out every 1st and 15th of the month within a 72 hour grace period. Dividend funds will be distributed equally amongst all shares. After the distribution of dividends in your account - you can order the payout at any time.

Pricing
Prices for our Services (shares of assets) may change from time to time, but changes will not affect any paid order.

Asset's termination
Every asset after launch works 24/7/365 until the cost of expenses exceeds the operating fee, in which case we will auction the respective machine and distribute the earnings in the same way that we distribute the dividends. After that shares of such asset will be terminated.

Members’ obligations
Members represent and warrant that they will only use the Site to perform any actions in accordance with the conditions set forth in these Terms and that they are duly authorized and have the capacity to enter into the actions on the Site. Members agree that they will not use the Site to perform any type of illegal activity of any sort, including, but not limited to, money laundering, terrorism financing, or negatively affect the performances of the Site. You acknowledge and warrant that you have conducted sufficient due diligence to understand the risks associated with Bitcoin mining.

Return and refund
Your legal right to cancel an order while you have not got first dividends. This means that during the relevant period if you change your mind or for any other reason you decide you do not want to receive the Services, you can notify us of your decision to cancel the order and receive a refund. To cancel an order, please contact us in writing to tell us by sending an e-mail. We shall have a further 5 business days to verify the transaction before proceeding with any refund. There are no refunds for payment in bitcoins due to exchange rate fluctuation. Returns are only accepted upon the prior approval of Bit-Miner.com. After you have received the dividends from asset you can not pretend to any refunds for such order.

Force Majeure
We will not be liable for any delay or failure to perform any obligation under this Terms where the delay or failure results from any cause beyond our reasonable control, including acts of God, labor disputes or other industrial disturbances, systemic electrical, telecommunications, or other utility failures, earthquake, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, or war.