Description of The Forthcoming Business “Bitcoin Hash”

Dear 58COIN Users,

The new mining machine sales and related custody service “Bitcoin Hash” will be launched within this week, which has been established through the joint efforts of 58COIN, mining machine manufacturers, mining pools and mine owners. The details are as follows:

• Mining Machine Fees

• The mining machines are the latest S17 series of Bitmain, the specific model and price of the mining machine are listed below (freight and listing fees are included). We will convert the fee into the equivalent USDT (OMIN) according to the exchange rate. User needs to pay with USDT.

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• Electricity Cost

• The electricity fee is 0.35 Yuan/kWh for the whole year. The custody mainly used stable thermal power, which is basically not affected by dry/flood season. A prepaid mechanism is adopted in paying the electricity bill, that is, users need to pay the electricity fee in advance and with USDT, we will convert the fee into the equivalent USDT (OMIN) according to the exchange rate, besides, a maximum of 365 days is supported for the prepaid period.

• Management Fees

• 4% of the mining output will be collected as the management fee, which is used for mine maintenance, power equipment maintenance, and site operation and maintenance costs. During the activity period (from April 17, 2019 to Dec. 31, 2019), the management fee will be subsidized by the Bitcoin Hash, and users do not need to pay. Whether to charge the follow-up management fees will be decided according to the operation situation.

• Earnings Distribution

• “PPS+ distribution model” will be adopted as the earnings distribution method, and the earnings include mining earnings + miner fees, and the mining output is directly provided by the mining pool.

•  Daily Hash and Earnings

  For maintenance and administration convenience, we will generate an observer link for the user and provide the link to the user. You can use the link to monitor the working status of the mining machine anytime and anywhere and to view the real-time mining earnings.

• By adhering to the operating principle of “Customer First, Safety, Strength and Trust”, 58COIN devotes to creating a safe, transparent and reliable digital asset service environment for traders. 

• 58COIN Exchange

  April 17, 2019