HashNest contract

PACMiCs contract FAQ

7. Can the PACMiC be sold or transferred to other users?

No, PACMiCs may not be traded on the exchange.

8. Do PACMiCs deduct electricity and maintenance fees?

PACMiCs do not deduct electricity or maintenance fees separately, all fees covered by Bitmain.

9. Can I redeem my PACMiC before contract expiry?

No. The contract will be closed automatically at the time that the principal has been repaid in full. Contracts may not be terminated prior to this.

10. Does PACMIC returns miners after contract end?

No, PACMiC is different from Hashnest's other cloud mining services in this regard.

11. If AntPool experiences bad luck, will this affect profit payments?

Profit payouts are calculated using the amount of unpaid initial cost, and are unrelated to the pool luck of AntPool. Changes in pool luck will affect the speed at which the cost is repaid.

12. When does the user start to get the profit? Where does the bonus go?

Bonus payout begins accumulating when the first block is found after contract activation. Bonus will be paid directly to user’s wallet on Hashnest.com

13. How does the customer make profit?

Bonus payouts are calculated using the formula: unpaid principal (BTC) * 0.45 (satoshis per BTC per second) * time to find a block (seconds). Mining revenue will first be used to make bonus payments, the remaining of mining revenue will be payment towards the purchase price.

14. what is Auto-Rebuy feature ?

After enabling the Auto-Rebuy feature, your payout and profit payments will be used to automatically and incrementally purchase more PACMiC hashrate.

When you disable the feature, mining revenue and profit payments will continue accumulating inside your account balance as usual.

15. I already bought a PACMiC, If I re-buy a part of new contract in PACMiC from my profit from old contract, how long will my new contract last?

Same terms as before -- a PACMiC expires only when the purchase price has been paid back to the owner. If the BTC price drops too low and the contract does not generate revenue, the contract becomes suspended (but not ended) until the time that it may generate revenue again.

16. When does the contract end?

When the one BTC purchase price has been paid back in full.

17. Is the PACMiC really risk-free?

Like all forms of bitcoin mining, there is a certain level of risk involved. If network difficulty unforeseeably skyrockets, or if the price of bitcoin drops too much, the Antminer S7 units backing the PACMiC may not be profitable to run and be forced to go offline, in which case contracts would be suspended (possibly indefinitely) and the user may not recover the initial cost of the miner. However, the AntMiner S7 is currently the most power efficient bitcoin miner available on the market, and would be among the last to be forced to power down under unfavorable market circumstances. It is our comprehensive evaluation that the likelihood of PACMiC holders not recovering their initial cost is indeed quite low. We ask that all users please understand the risks inherent to any sort of bitcoin mining, and also to understand that there is no such thing as a risk-free product.