Cloud Mining Fees
Cloud

Why do the electricity/maintenance fees increase?
Think of it like this: If the fees are $1 a month in electricity and maintenance and your mining earnings are $2 a month, then our fees are about 50% of your earnings. However if the Bitcoin mining difficulty increases and/or the price of Bitcoin decreases by 25%, then your mining earnings are now only say $1.50 a month. The cost of electricity and maintenance is still $1 a month but your mining earnings dropped so your profit margin drops. Now you only have 33% profit margin.

I still don't understand and think it's wrong, show me the math!
The 3.0 GHS fee is $0.00058/GHS/Day. This does not change! If you multiply that number by 30.5, the average number of days in a month, then that equals to $0.017 per GHS per Month. If you assume you have 100 GHS, that is $1.70 a month. Currently, 100 GHS mines approximately $1.92 USD of Bitcoin a month (according to this Alloscomp's calculator or any other Bitcoin mining calculator). So when you divide earnings by the fee, $1.70/$1.92, you get the fee of 97%.

Now where it gets confusing for people, is when Bitcoin mining difficulty increases. If it just increases 10%, most people would think the fee should only increase by a little. But in fact, the mining earnings will go from $1.92 GHS to $1.70 GHS (1.92*0.90). The fee always stays the same, but 10% difficulty increased means now the fee costs more than what it earns and mines. so the fee is basically 100%.

Note, for the S5 and 2.0 GHS, the fee is $0.00117/GHS/Day.

Note, for the S7 and 3.0 GHS, the fee is $0.00058/GHS/Day.

Note, for the S9 and 4.0 GHS, the fee is $0.00021/GHS/Day.

Bitcoin Difficulty Chart
Bitcoin Difficulty Chart

(Coming Soon) GHS 3.0 Redeeming to Hardware
Due to the falling Bitcoin price, and the rising Bitcoin mining difficulty, version 3.0 of our Cloud GHS has been paused. It costs more money in electricity/maintenance fees than the AntMiner S7 devices mine every day in Bitcoin. Each day it costs $0.00058 per GHS to run, and it only mines $0.00057. It does not appear likely that the miners will again produce more in Bitcoin than it costs to run them in electricity, so we will be terminating the contracts.

In exchange, we can ship you the AntMiner S7 hardware, so you can run it in your own home. Each S7 DOES NOT include a power supply. You must pay for shipping and handling and that price will vary depending upon your location, but is approximately $75 USD. You need at least 4730 GHS 3.0 to take advantage of this offer, since each S7 unit is a 4730 GHS hashing unit. However, we have 100's of extra units, so if you want one, please contact us. Please email us if you want more information or to take advantage of this redemption offer.

GHS 2.0 Redeeming to Hardware
Due to the falling Bitcoin price, and the rising Bitcoin mining difficulty, version 2.0 of our Cloud GHS has been paused. It costs more money in electricity/maintenance fees than the AntMiner S5 devices mine every day in Bitcoin. Each day it costs $0.00117 per GHS to run, and it only mines $0.00116. It does not appear likely that the miners will again produce more in Bitcoin than it costs to run them in electricity, so we will be terminating the contracts.

In exchange, we can ship you the AntMiner S5 hardware, so you can run it in your own home. Each S5 DOES NOT include a power supply. You must pay for shipping and handling and that price will vary depending upon your location, but is approximately $65 USD. You need at least 1155 GHS 2.0 to take advantage of this offer, since each S5 unit is a 1155 GHS hashing unit. However, we have 100's of extra units, so if you want one, please contact us. Please email us if you want more information or to take advantage of this redemption offer.

GHS 1.0 Redeeming to Hardware
Due to the falling Bitcoin price, and the rising Bitcoin mining difficulty, version 1.0 of our Cloud GHS has been paused for the past 10 days. It costs more money in electricity/maintenance fees than the AntMiner S2 devices mine every day in Bitcoin. Each day it costs $0.0023 per GHS to run, and it only mines $0.0021. It does not appear likely that the miners will again produce more in Bitcoin than it costs to run them in electricity, so we will be terminating the contracts.

In exchange, we can ship you the AntMiner S2 hardware, so you can run it in your own home. Each S2 includes a power supply, for no extra charge. You must pay for shipping and handling and that price will vary depending upon your location. You need at least 1000 GHS to take advantage of this offer, since each S2 unit is a 1000 GHS hashing unit. We may have extra S2 units, so if you have less than 1000 GHS you can inquire to be put on a waiting list. Please email us if you want more information or to take advantage of this redemption offer.

What are our Cloud Mining fees?
-2.0 GHS the fee is $0.00117/GHS/Day for a fee of 100%
-3.0 GHS the fee is $0.00058/GHS/Day for a fee of 97%
-4.0 GHS the fee is $0.00021/GHS/Day for a fee of 35%

For electricity and maintenance, we currently charge a fee of 100% for SHA-256 2.0 and a fee of 97% for SHA-256 3.0. These values may change as Bitcoin mining difficulty increases, exchange rates vary and newer ASICs come online. These fees beat our competitors.

Why does GHS 2.0 have a smaller fee than GHS 1.0?
GHS 2.0 runs on newer Antminer S5 hardware. This means the mining chip design is more efficient per watt, so the electricity is smaller. The GHS 1.0 runs on Antminer S2 hardware, which is not as energy efficient.

Why does GHS 3.0 have a smaller fee than GHS 2.0?
GHS 3.0 runs on newer Antminer S7 hardware. This means the mining chip design is more efficient per watt, so the electricity is smaller. The GHS 2.0 runs on Antminer S5 hardware, which is not as energy efficient.

Why does GHS 4.0 have a smaller fee than GHS 3.0?
GHS 4.0 runs on newer Antminer S9 hardware. This means the mining chip design is more efficient per watt, so the electricity is smaller. The GHS 3.0 runs on Antminer S7 hardware, which is not as energy efficient.

When are the fees taken and deducted?
Fees are removed every 60 seconds and included in your mining payouts. The balance you see on the site is your true and real balance after the fees have been deducted. Estimates on the site will already include any fees.

Confused on the Halving?
Just for illustration: imagine that you mine 25 dollars daily and pay 10 dollars for electricity. Your income is 15 dollars. If mining reward reduces to 12.5 dollars, your income becomes 2.5 dollars because you still have to pay 10 dollars for electricity. Reward halved, but your income reduced 6 times - from 15 dollars to 2.5 dollars.

Bitcoin Halving
The Bitcoin Halving came on July 9, 2016. This means, instead of every 10 minutes a 25 Bitcoin reward to miners, it became 12.5 Bitcoins will be the reward. This means if the price of BTC stays the same, then profits will fall in half. This would also mean the fee will double and a 37% fee would become 74% overnight. See this site for more info and a real-time clock: http://www.bitcoinblockhalf.com

The next Bitcoin Halving is 4 years away.

What happens if the fees reach 100%? Impossibility of Performance; Suspension; Termination.
If the fees to each customer for cloud mining must be raised to 100% in order for Eobot to remain in business without a loss, or if despite raising fees to 100% Eobot incurs a loss, Eobot will suspend all contracts for cloud mining. Eobot will turn the cloud mining back on once the fees are 99% or lower, however, following standard industry practice, if the fees to each customer for cloud mining are 100% and Eobot is sustaining a loss for ten consecutive days, then Eobot may unilaterally terminate all contracts for cloud mining completely, at its discretion and damages, if any, will be limited to those described in the LIQUIDATED DAMAGES clause of these Terms and Conditions.

It is the wish of Eobot that these events never occur and we have great confidence that the price of BTC will remain stable or grow over time. Our optimism is the reason that Eobot continues to work hard to make sure all customers are happy and that the site is secure and interesting for its customers.



Fiat amounts shown are the equivalents if cryptocurrency is traded on the popular exchanges, such as Bittrex.
Eobot does not allow fiat (USD/EUR/JPY/GBP/CNY/RUB/etc.) in or out. Fiat amounts are for illustrative purposes only.
Eobot has no opinion regarding alleged relative values of virtual currencies in relation to fiat currencies.
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