Terms of Service

Last Updated: May 5, 2024

Welcome to Cloudbitminer ("we," "us," or "our"), a cloud cryptocurrency mining service. These Terms of Service ("Terms") govern your access to and use of our website, platform, and related services (collectively, the "Services"). By accessing or using the Services, you ("you" or "User") agree to be bound by these Terms. If you do not agree with these Terms, you must not use the Services.

We may update these Terms from time to time to reflect changes in our practices, services, or legal requirements. We will notify you of significant changes by posting the updated Terms on our website with a revised "Last Updated" date. Your continued use of the Services after such changes constitutes your acceptance of the updated Terms.

1. Eligibility

To use the Services, you must:

  • Be at least 18 years old or the age of majority in your jurisdiction.
  • Have the legal capacity to enter into a binding agreement.
  • Not be prohibited from using the Services under applicable laws or regulations, including sanctions lists or restrictions related to cryptocurrency activities.
  • Reside in a jurisdiction where our Services are available and comply with local laws regarding cryptocurrency mining and transactions.

By using the Services, you represent and warrant that you meet these eligibility requirements. We reserve the right to refuse service to anyone who does not meet these criteria.

2. Account Registration and Management

2.1 Account Creation

To access certain features of the Services, such as purchasing mining contracts or withdrawing rewards, you must create an account. You agree to:

  • Provide accurate, current, and complete information during registration.
  • Maintain the accuracy of your account information by updating it promptly if changes occur.
  • Choose a strong password and keep your account credentials confidential.

2.2 Account Security

You are responsible for all activities that occur under your account. You must:

  • Not share your account credentials with others.
  • Notify us immediately at support@Cloudbitminer.com if you suspect unauthorized access or use of your account.
  • Enable two-factor authentication (2FA), if available, to enhance account security.

We are not liable for any losses or damages resulting from your failure to secure your account.

2.3 Verification

We may require you to verify your identity to comply with anti-money laundering (AML) or know-your-customer (KYC) regulations. This may include submitting government-issued identification, proof of address, or other documentation. Failure to provide requested information may result in account suspension or termination.

3. Use of the Services

3.1 Cloud Mining Services

Cloudbitminer provides cloud mining services, allowing you to rent computing power (hashrate) to mine cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), or other supported coins. You acknowledge that:

  • Mining rewards depend on factors beyond our control, including mining difficulty, cryptocurrency market prices, and network conditions.
  • We do not guarantee specific profits or returns from mining activities.
  • You are responsible for understanding the risks associated with cryptocurrency mining, including price volatility and regulatory changes.

3.2 Acceptable Use

You agree to use the Services only for lawful purposes and in accordance with these Terms. You must not:

  • Use the Services to engage in illegal activities, including money laundering, fraud, or terrorism financing.
  • Attempt to hack, disrupt, or interfere with the Services, our servers, or our mining infrastructure.
  • Use automated tools, such as bots or scripts, to access or manipulate the Services without our permission.
  • Violate the intellectual property rights of Cloudbitminer or third parties.
  • Engage in any activity that could harm our reputation or the functionality of the Services.

3.3 Prohibited Jurisdictions

The Services may not be available in certain jurisdictions due to legal restrictions. You are responsible for ensuring that your use of the Services complies with local laws. We may restrict access to the Services in jurisdictions where cryptocurrency mining is prohibited or heavily regulated.

4. Mining Contracts and Payments

4.1 Mining Contracts

You may purchase mining contracts to rent hashrate for a specified duration. Each contract includes details such as:

  • The amount of hashrate allocated.
  • The duration of the contract (e.g., 15 day, 1 months).
  • Applicable fees, including maintenance or electricity costs.
  • Expected cryptocurrency rewards, subject to market conditions.

Contracts are non-transferable and non-refundable unless otherwise stated in the contract terms or required by law.

4.2 Payments

You agree to pay all fees associated with your use of the Services, including:

  • Contract purchase fees, payable in cryptocurrency (e.g., BTC, LTC) or fiat currency (via third-party payment processors).
  • Maintenance fees, which cover electricity, cooling, and hardware upkeep, deducted from your mining rewards or charged separately.

All payments are final unless otherwise specified. We are not responsible for errors in payment details provided by you, such as incorrect wallet addresses.

4.3 Withdrawals

You may withdraw mining rewards to your designated cryptocurrency wallet once you meet the minimum withdrawal threshold. Withdrawals are subject to:

  • Processing fees, as outlined in your account dashboard.
  • Verification requirements, if applicable.
  • Delays due to blockchain network conditions or security checks.

We are not liable for losses caused by incorrect wallet addresses or blockchain-related issues beyond our control.

5. Intellectual Property

All content, software, designs, logos, and other materials provided through the Services (collectively, "Content") are owned by Cloudbitminer or our licensors and are protected by intellectual property laws. You are granted a limited, non-exclusive, non-transferable license to access and use the Content solely for personal, non-commercial purposes in connection with the Services. You must not:

  • Copy, modify, distribute, or create derivative works from the Content without our written permission.
  • Reverse-engineer, decompile, or attempt to extract the source code of our software.
  • Use our trademarks, logos, or branding in a way that suggests endorsement or affiliation without our consent.

6. Termination and Suspension

6.1 By You

You may terminate your account at any time by contacting us at support@Cloudbitminer.com. Upon termination, active mining contracts may continue until their expiration unless otherwise agreed. No refunds will be provided for prepaid contracts unless required by law.

6.2 By Us

We may suspend or terminate your account or access to the Services, with or without notice, if:

  • You violate these Terms or engage in prohibited activities.
  • We suspect fraudulent or unauthorized use of your account.
  • We are required to do so by law or regulatory authorities.
  • Continued provision of the Services becomes technically or commercially unfeasible.

Upon termination, you will lose access to your account, and any unpaid mining rewards may be forfeited, subject to applicable laws.

7. Disclaimers

The Services are provided on an "as is" and "as available" basis. We make no warranties, express or implied, regarding:

  • The availability, accuracy, or reliability of the Services.
  • The profitability or success of your mining activities.
  • The security or stability of blockchain networks used for mining or withdrawals.

We do not guarantee uninterrupted access to the Services and are not liable for interruptions caused by maintenance, technical issues, or external factors such as power outages or internet disruptions.

8. Limitation of Liability

To the maximum extent permitted by law, Cloudbitminer, its affiliates, officers, directors, employees, and agents will not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or cryptocurrency, arising from or related to your use of the Services. Our total liability for any claim will not exceed the amount you paid for the Services in the six months prior to the claim.

You acknowledge that cryptocurrency mining involves significant risks, including market volatility, regulatory changes, and technical failures, and you assume these risks by using the Services.

9. Indemnification

You agree to indemnify and hold harmless Cloudbitminer, its affiliates, and their respective officers, directors, employees, and agents from any claims, damages, losses, or expenses (including legal fees) arising from:

  • Your violation of these Terms.
  • Your misuse of the Services.
  • Your violation of applicable laws or third-party rights.

10. Governing Law and Dispute Resolution

10.1 Governing Law

These Terms are governed by the laws of [Your Jurisdiction, e.g., Delaware, USA], without regard to its conflict of law principles.

10.2 Dispute Resolution

Any disputes arising from these Terms or your use of the Services will be resolved through binding arbitration in accordance with the rules of the [Arbitration Association, e.g., American Arbitration Association]. Arbitration will take place in [City, State/Country], and the language of arbitration will be English. You waive any right to participate in a class action lawsuit or class-wide arbitration.

Notwithstanding the above, we may seek injunctive relief in any court of competent jurisdiction to protect our intellectual property or prevent irreparable harm.

11. Force Majeure

We are not liable for any failure to perform our obligations under these Terms due to events beyond our reasonable control, including but not limited to natural disasters, power outages, cyberattacks, blockchain network failures, or changes in government regulations affecting cryptocurrency mining.

12. Miscellaneous

12.1 Entire Agreement

These Terms, along with our Privacy Policy and any applicable mining contract terms, constitute the entire agreement between you and Cloudbitminer regarding the Services.

12.2 Severability

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will remain in full force and effect.

12.3 Waiver

Our failure to enforce any right or provision of these Terms does not constitute a waiver of that right or provision.

12.4 Assignment

You may not assign your rights or obligations under these Terms without our prior written consent. We may assign our rights and obligations to a third party, such as in the case of a merger or acquisition.

12.5 Third-Party Beneficiaries

These Terms do not confer any rights or benefits to third parties, except as expressly stated.

13. Contact Us

If you have questions, concerns, or complaints regarding these Terms or the Services, please contact us at:

Cloudbitminer
Email: support@Cloudbitminer.com
Address: 3855 Ambrosia Street Suite 301 Castle Rock, CO 80109

We aim to respond to all inquiries within 7 business days.

Thank you for choosing Cloudbitminer. We look forward to providing you with a secure and rewarding cloud mining experience.

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