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Sovereign Mining is not a cloud mining company. Sovereign Mining customers own their mining hardware in full which can then be placed in one of Sovereign Mining’s facilities.
Customers will receive the serial numbers for all units they have purchased. Sovereign Mining strives to democratize access to Bitcoin mining, of which customer-owned hardware remains a key tenant.
Cloud mining companies rent hashrate to customers in order to mine cryptocurrencies.
Sovereign Mining does not offer cloud mining services.
Sovereign Mining charges an all-in-one hosting fee on a monthly or quarterly basis.
Your recurring costs from your Sovereign Mining order will be the monthly invoice for hosting. The hosting fee covers the electricity fee, facility security, customer service and monitoring. The one month hosting prepayment fee is for the first month. After the first month, you will have to start paying monthly. We email out invoices at the beginning of the month. The monthly fee is based on the price per kilowatt hour (kWh) multiplied by the amount of power consumed. Sovereign Mining ensures the hosting fees are the most competitive available.
Sovereign Mining requires your name and email address for purchases using debt, credit or wire transfers. Purchases with crypto also require your name and email address.
A mining device uses powerful processors to solve the complex puzzles used to secure and validate transactions on a blockchain. By providing some of the global hash power needed, you receive rewards and get paid in Bitcoin.
Return on investment (ROI) is the number of days between the purchase and the day you have generated enough income to equal the cost of the miner.
This forecast is for informational purpose only, due to market-dependent earnings.
Yes, all Sovereign Mining customers can select a mining pool of their own choice prior to installation of your mining hardware. Our Mining Concierge team will email you during the week leading up to the install date. After you have started mining, you can also change what mining pool you join by submitting a ticket to our Help Center.
Each Sovereign Mining partner and site has been rigorously vetted by the Sovereign Mining Team. You can select a location for your equipment on a few criteria such as the minimum order quantity (MOQ), if the facility uses renewable energy and the hosting cost per kWh.
The contract with Sovereign Mining is a minimum of 1 year.
Machines hosted in Sovereign Mining partnered facilities can be shipped back to the owner for a fee, once the agreed hosting period is finished. We recommend reading over the Sovereign Mining Service Agreement that was agreed upon hardware purchase.
Please note that some mining facilities require lead time for technicians to remove and ship equipment. Submit a ticket to the Help Center to talk with the Sovereign Mining Concierge team.
Sovereign Mining can also help you sell your mining hardware. Please contact the Sovereign Mining Sales team if you want to sell your mining hardware.
You can view the status of your machine through your mining pool dashboard. Furthermore, all facilities have technicians on hand to address momentary hiccups. Sovereign Mining both monitors machine uptime and maintains close communications with hosting facilities to keep machines running.
Machines may appear offline or be moved offline for a brief period of time depending on the specific needs of the machines or the facility. For example, many ASICs overheat and must be powered down momentarily to cool before being turned back on.
Tickets can be submitted to the Help Center for machines that remain offline for an extended period of time. Please only submit tickets for an offline machine after four hours of inactivity.
Sovereign Mining sends invoices on a monthly basis, minus the first month which is included in the initial machine purchase. Invoices will be sent before the end of the month to protect against payment delays. Sovereign Mining offers payment via wire, debit and credit card or in Bitcoin (BTC).
Your chosen mining pool will send your mined BTC to your chosen Bitcoin wallet address. Each mining pool has their own payout requirements including the frequency and the threshold. Mining pool payout requirements can be found on each mining pool website.
New machines typically go online at a facility within three to five weeks after their shipping date. Shipping estimates from a manufacturer to a hosting facility average three to four weeks in addition to one week budgeted for racking new equipment. Delays are possible depending on market conditions.
Used equipment purchases have greater time variance. Information by machine can be found on the Start Mining section of our website. Sovereign Mining often maintains a select list of used equipment on retainer at various locations with faster turnaround times. Please inquire with Sovereign Mining directly for more information.
Sovereign Mining processes fiat payments through Stripe. Customers can pay via debit, credit or bank wire. Please note a 4% fee is included on credit card purchases. Sovereign Mining also offers customers the ability to pay in Bitcoin (BTC)
Machines with high hashrate and lower power consumption are best. Bitmain (Antminer), MicroBT (WhatsMiner), and Canaan (AvalonMiner) are the most well-known bitcoin ASIC manufacturers. We ONLY host ASIC machines running the SHA-256 algorithm. *Always perform due diligence and do your own research before purchasing.
You can create a Sovereign Mining account directly from our website. Check on orders and active machines, purchase more equipment, review available hosting facilities or contact support from your account.
Running custom firmware has a risk of causing damage to your bitcoin mining ASIC. Because of this, we do not offer firmware installation on machines in Sovereign Mining's facilities. Exclusions may apply in deployments over 300kW.
Hashrate is a measure of the computational power per second used when mining. More simply, it is the speed of mining. It is measured in units of hash/second, meaning how many calculations per second can be performed. ... For example, 1 Mhash/s indicates 1 million hash calculations are done every second.
When cryptocurrencies rise in value, investors sense an opportunity and think about investing in cryptocurrencies and related activities such as mining. This type of very risky speculative investment is not for everyone. Even if you consider yourself to be a knowledgeable investor, make sure you have the technical knowledge needed to fully understand the project, the underlying technology and the related risks. The return on mining depends on electricity costs, the computing capacity and efficiency of the computers used and cryptocurrency market prices. When cryptocurrencies decrease in value, so do mining revenues, making mining a very volatile and risky activity.
In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their computing or processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial "proof-of-work" Mining in pools began when the difficulty for mining increased to the point where it could take centuries for slower miners to generate a block. The solution to this problem was for miners to pool their resources so they could generate blocks more quickly and therefore receive a portion of the block reward on a consistent basis, rather than randomly once every few years
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