HashMax sincerely provides transparency to our valued customers as always. Our Xinjiang and Sichuan facilities suspended the operation due to the regulation of the government. The Chinese government has ordered a total shutdown of crypto mining within the country, causing all mining companies in China to move out.
Given the above-mentioned reasons and to follow the regulatory requirements of China, as you are aware of the term “Party B may withdraw or cancel this Agreement immediately, when the operating place, operation method and others of Party A’s are being intervened by the government.” inside the hosting contract, we are offering our hosting customers 3 options caused by the unexpected government intervention and regulations
Option 1: Keep on mining with HashMax in other facilities abroad.
HashMax is in the process of working with mining facilities in Russia. Once we confirm a full 100% stable operation abroad, we will notify you immediately. We are expecting the operation abroad to be ready by July. However, our hosting price will increase to 0.067 USD/kWh due to the increase in the cost.
Option 2: Terminate the hosting contract with HashMax and ship miners to the assigned location as requested.
Customers have the right to relocate their miners to their homes or the other hosting companies within 30 days. HashMax will arrange the shipment and customers shall be responsible for the incurred shipping fee.
Option 3: Resell your miners.
Customers can entrust HashMax to sell their second-handed miners at the market price in China, or find a buyer themselves while HashMax will arrange the delivery. 30 days will be given to customers to resell the miners.
We apologize for the inconvenience caused and appreciate your understanding in this unfortunate matter. We value your business and we would like to retain you as a customer for many years to come.
NOTE: Cloud mining contracts will have no effect as cloud mining hashrates are permanent regardless of any factors.