Frequently Asked Questions (FAQs)
We source and host clients mining equipment, and additionally we are a strategically located provider of rackspace for the Bitcoin & Cryptocurrency mining industry.
The combination of our mining infrastructure and proprietary mining farm-management software, enables an easy and safe way to acquire hashpower without the necessity of a complex hardware and software setup.
Our Swedish base gives us access to some of the lowest electricity prices in the world, with 100% of our energy coming from hydroelectricity. This enables us to provide hosting solutions at affordable prices.
Our team of mining experts have an extensive knowledge of the digital currency sector, and therefore specialize in building the most efficient and reliable mining facilities.
We provide Mining-As-A-Service
- We source and host latest mining equipment for clients. Our customers own the miners, we run them in exchange for a mark-up the electricity usage.
- We are transparent and simple. We offer all-in pricing for our services with no hidden fees.
- We never hold your coins. Since customers own the hardware, the machines mine directly into their wallets. Our customers receive 100% of the mining rewards.
- We use 100% green energy, from excess hydro power plants.
2. We source hardware directly from manufacturers for you. If manufacturer requires a pre-payment then client needs to prepay to us as well.
3. Hardware prices include sourcing, shipping, customs, power unit, cables and testing.
4. Once hardware is installed and ready to go live, client is asked to subscribe to a hosting plan (monthly, 6-months or yearly pre-paid).
5. All-in pricing: Hosting Fees include everything required for profitable mining (electricity, infrastructure and maintenance costs) but does not any potential repairs in case of hardware defects.
5. Flexibility and Security: Once first hosting fee has been paid client receives logins to client portal and can add its own wallet ID.
6. 100% of mining rewards go to Client: Miners mine directly into clients wallet and Client receives daily 100% of mining rewards. Blockbase never touches the coins.
7. No Contract length: As long as the hosting fees (monthly, 6-monthly or yearly) are paid in advance in time Blockbase will power clients units.
Our current data center are in:
- Sweden, because:
- low-cost access to energy
- 100% green energy
- natural cooling
- political stability
- strong legal security
- well educated IT staff
- plenty of land available for expansion
Our software systems are tested and optimised for mining the following coins:
- Bitcoin Cash
- Ethereum Classic
If you wish to mine a different currency, please contact us beforehand so we can check feasibility. Our mining operation is highly automated and therefore we need to test compatibility and system integration.
You are welcome to instruct us to have your miners shipped to an alternative destination, but our data center offers the cheapest power rates in the world, so why would you ship elsewhere?
Many quotes that you receive from other suppliers are not all-inclusive. They are typically just for the mining unit only.
Additionally, once your hosting contract expires or is cancelled, you may ship your miners to a different location of your choice.
Typically, miners that are offered from stock are older, underperforming versions.
Due to our close, long-term relationships with mining equipment manufacturers, Blockbase can get a production estimate directly from the factory.
We then pass on the payment terms to you and take care of sourcing, shipping, inspections and installation.
Unfortunately, Blockbase has no influence on delivery times and we cannot offer any warranties.
1. You select the miner and order online at our shop.
2. Orders are submitted after you have registered with your contact details and agreed to our terms & conditions.
3. In most cases, the manufacturer requires a prepayment.
4. You can electronically transfer the amount in EUR or cryptocurrency directly to our SEPA bank account / wallet.
5. Once we have received your deposit, we will process your order and transport the hardware to our data center for you.
6. When miners arrive in our datacenter, we conduct a quality inspection and then install them. This will then trigger the payment of the outstanding balance.
7. Once your miners are set up, you can subscribe to a corresponding hosting plan.
8. As long as you pay your monthly, 6-monthly or yearly hosting fee in advance, we will continue to power your miners. You keep all of your daily mining proceeds, which go directly into your wallet.
Please feel free to contact sales support should you have any questions.
If you want to mine Ethereum and/or other altcoins, you need to buy a GPU unit.
You can then switch to any altcoin that your miner and Blockbase’s system is tested and optimized for.
It is in our interest that our clients mine profitably for as long as possible, because this ensures stable recurring revenues. We therefore only offer mining equipment that we have fully tried and tested.
No, once a purchase has been made, there is no refund available. The purchase terms are set to us by the hardware manufacturer, and these also apply to you as our client. We have to prepay for orders with the hardware manufacturers to fund the production of the latest equipment and therefore cannot cancel orders or offer a refund.
Our hosting fees include electricity, infrastructure and maintenance (but not any repairs) and are based on the energy usage. We can offer discounts on if you are looking to host larger quantity of miners and if you can prepay hosting for 6 or 12 months.
All hardware set up, network setup, transportation, configuration and cabling cost is included, as long as you have purchased your hardware from Blockbase.
Otherwise, we require an installation fee of 150 Euro per ASIC Miner and 175 Euro per GPU miner. This is because every miner setup is unique and therefore our software, wiring and cooling setup is more complex.
In addition, we will provide you with a personal webpage, so that you can view your miner’s hashrates in real-time.
If your miner does not reset, then we will advise you on the costs of any repair involved.
Upon arrival, inspection, testing and installation you then subscribe to a hosting plan online.
As long as you pay in advance the monthly, 6-monthly or yearly subscription fee (which includes energy, infrastructure and hosting), you will receive 100% of your coins mined directly into your wallet.
With regards to the security of our facility, there are two factors to consider:
- Physical risks: We operate tens of thousands of miners under strict security. Our miners are protected by barb wire, security guards, an alarm system and securely locked data centres. The time to uninstall, unplug, box and load miners on a truck is also lengthy. As soon as one cable is unplugged an alarm will be activated. We are not liable for damage or theft, however all the mining equipment in our data centre is fully insured.
- Digital risk: Our system recognises immediately if a cable is plugged into our miners, and there is no WiFi available in our data center.
There are 2 ways to mine at lower rates:
1. Volume discount: The more miners you buy and host with us, the lower the rates.
2. Prepayment discount: We offer monthly, 6-monthly and yearly hosting plans. If you prepay for a full year in advance you will receive a discount.
We can not offer any uptime or performance guarantees.
Where downtime is caused by Blockbase systems, we offer refunds for any months where service falls below 95% uptime.
The last energy outage in North Sweden was in 1982.
It is important that our clients mine efficiently, with the latest equipment, so that they stay profitable for the longest time possible.
Our data center capacity is very limited and we want to work with clients in the long term.
We do not publish a list of the pools we are using but our criteria for a good pool is reliability, fee structure and reject rate.
We will be in charge of connecting the customers miners to the pool according to the cryptocurrency mined by you.
If a different, specific mining pool is preferred, you will be able to change the settings in your client portal.
Mining profitability is determined by the underlying currency price, respective difficulty rate and overhead costs. Find out how much you can earn with our free Cryptocurrency Mining Calculator.
A higher hashrate is more beneficial as it gives you a higher chance of discovering the next block and getting rewarded.
A cloud mining provider leases their computation power (hashrate) to clients. With cloud mining, you share processing power of a remote datacenter with other “shareholders”.
The amount of processing power you require is up to you, but the hardware is managed by Blockbase.
+ Instant start: The hardware is already running so you can start mining within minutes.
+ Less capital needed: You can rent the computation power of less than 1 miner.
– Intransparent: It is nearly impossible to gage the value for money. Moreover clients cannot double-check what they should receive.
– Termed contracts: Usually 1 or 2 years commitment,
– Upfront payments required.
– No flexibility: Typically it is not possible to change the currency to be mined.
– Security risk: The miner mines into their wallet first and distributes to clients after. Hence you need to trust the provider to pay out and hope that the provider will not get hacked).
Hosted mining (interchangeably referred to as “co-location”) is the process of hosting your mining hardware in a safe, secure, and affordable hosting data center for a nominal fee. This provides many advantages such as cheaper utility rates and reduced maintenance issues.
+ Hardware ownership (you could ship miners to a different location / service provider).
– High minimum investment: We recommend to buy at least 10 miners because if you only bought 1 and it breaks at some point you lost 100% of your investment.
– Delivery time: since clients acquire latest mining equipment directly from manufacturers there is usually a lead time on production and shipping (which is out of Blockbase hands).
Blockbase differentiates with their Mining-As-A-Service in the following way:
+ 100% green mining.
+ Clients receive 100% of the coins.
+ We never touch your coins because clients hardware mines directly into clients wallet.
+ You can switch to different currencies (GPUs only) per miner.
+ No commitment. As long as you pay your hosting fee in advance to us we keep powering your miners.
+ Very affordable, transparent all-in pricing.
Miners need to complete all parts of the proof of work for the block to be generated, and only then will the block be accepted and validated in to the overall cryptocurrency network.
The probability of successfully generating the block is very low, which makes it impossible to predict which machine or miner in the network will generate the next block.