Canaan Avalon Hosting Mining Agreement

1. Acceptance and contract documents

By placing an order, paying an invoice, activating a service, or submitting contract details, you confirm that you have read and accepted these terms. The binding contract consists of: (a) your website order and line-item configuration; (b) the product or service page at the time of order; (c) the completed account contract form; (d) these terms; and (e) the applicable privacy, payment, refund and order policies.

If documents conflict, the signed or confirmed order-specific terms control first, followed by these master terms and then general website information. Marketing estimates do not override an order or these terms.

2. Key definitions

Hosted Miner

A physical ASIC purchased by the Customer and operated at our managed facility.

Order-Specified Contract Term

The hosted mining term is 365 days from the recorded Activation Timestamp, as confirmed in the applicable order.

Gross Mining Revenue

The mining output attributed to the device before deductions.

Net Output

Gross Mining Revenue after electricity, management, pool, and any other operating charges disclosed in the applicable order.

Activation Timestamp

The recorded date and time the service begins producing attributable mining output.

Settlement Cycle

The daily accounting period used to reconcile production and operating charges (electricity, management, and pool fees) through the mining pool associated with your contract.

Payout Cycle

For Hosted Miners, Net Output is disbursed daily directly to the Customer’s registered external cryptocurrency wallet (less standard on-chain network transfer fee).

3. Orders, pricing, title and taxes

Hosted & ownership orders

The hardware purchase price buys the identified model and quantity. Customer title to the physical miner is subject to cleared payment and the order terms. Hosting does not mean immediate delivery to the Customer: the miner is allocated for operation during the hosting term.

For retail orders of up to 10 devices, the displayed order price includes import duties, taxes and customs-clearance charges handled by us, unless the order expressly states otherwise. Orders of 11 devices or more are wholesale orders: the Customer is responsible for applicable import taxes, duties and customs clearance and should place the request through the Wholesale section. Payment-network fees and any other order-specific charge are disclosed before confirmation. Digital-asset payment values are determined in the order currency at the exchange rate used by the enabled payment provider when payment is processed.

4. Activation, allocation and duration

For confirmed in-stock hosted orders, the physical device and serial number are assigned to the Customer account within 24 hours after cleared payment. Mining activation is completed by the end of the next business day following successful wallet configuration. The Order-Specified Contract Term begins only at the recorded Activation Timestamp. Each company-caused day of delay is added to the end of the term and shown in the Customer account.

If activation has not occurred within 3 business days, a Hosted Miner Customer may cancel hosting and request delivery of the owned device; where the delay was caused by us, the order-specific cancellation notice will state the available compensated delivery or continuation option.

5. Fixed fee schedule and transparent deductions

The electricity and percentage rates remain fixed for the full Order-Specified Contract Term and cannot be increased for that active contract. Daily dollar deductions vary proportionally with operating time and actual gross mining output. Setup and deployment are included at no additional charge. No setup or deployment fee is deducted from mining output. Every settlement statement shows Gross Mining Revenue, each operating deduction and Net Output. No undisclosed operating fee is deducted. Optional shipping, post-term storage and approved out-of-warranty work are separate and are charged only under the applicable written terms.

6. Mining records, calculation and payouts

Gross output is measured directly from facility and mining pool records. The Customer dashboard provides real-time and historical hashrate data, the active pool source, gross production, electricity, management and pool deductions, daily Net Output, adjustments, and disbursement transaction identifiers.

Settlement is calculated and reconciled daily at the end of each day from the Activation Timestamp. All operating expenses, including electricity, management, and pool fees, are deducted daily, with the net daily output and settlement record visible live through the mining pool associated with your contract in the Customer account.

Disbursement of Net Output occurs as follows:

• Hosted Miners: Net Output is calculated, reconciled, and disbursed daily directly to the Customer’s securely registered external cryptocurrency wallet after deducting daily operating charges (electricity, management, and pool fees). In accordance with standard global cryptocurrency mining practice, on-chain network transfer fees (typically nominal and under $1) apply to each transaction.

The final contract balance upon expiry or termination is settled and disbursed in full, subject only to actual disclosed network transfer fees.

Any correction is documented with its reason, amount and source record. A Customer may dispute a settlement within 30 days through the account, and we will provide a written response setting out the outcome of our review, normally within five business days.

7. Payout wallet and irreversible transfers

You must provide a wallet address compatible with the selected asset and network and confirm it accurately. The website may validate address format and confirmation matching, but this does not prove wallet ownership or guarantee that an exchange, custodial service or third party will credit the transfer.

Blockchain transfers are generally irreversible. Loss caused by an incorrect, unsupported, expired, restricted or inaccessible wallet supplied by the Customer remains the Customer’s responsibility, except where the transfer error was caused solely by us. We may pause payout and request a corrected wallet where validation or compliance concerns arise.

8. Variable output and fixed contractual fees

Displayed calculations are current estimates, not a promise of a fixed profit. The contract rates are fixed, but mining output may increase or decrease primarily with coin price and network difficulty and may also be affected by block rewards, protocol changes and pool performance. We do not control those network variables.

We do guarantee transparent measurement, the contracted hashrate allocation, the fixed fee schedule, settlement of actual Net Output and the service credits stated below. The service is not a deposit, security or financial advice.

9. Uptime commitment and service credits

We target 99% attributable hashrate availability during each rolling 30-day service measurement period. Company-caused interruption to power, connectivity, facility systems, maintenance or managed equipment is recorded automatically.

Where availability falls below the target for a cause within our control, the Customer receives a transparent service credit based on the affected hashrate hours and the average actual Net Output for the same measurement period, or an equivalent term extension where a monetary calculation is not reasonably representative. The incident and credit appear in the account record.

External blockchain or pool-wide failure, force majeure, a Customer-requested pause and an uneconomic-operation pause accepted under section 11 are not company-caused downtime.

10. Hosted hardware warranty and continuity

A verified Hosted Miner is covered for 365 days from activation. Routine diagnosis, parts, labor and replacement required for a covered internal fault are included in the operating service and are not charged again to the Customer. Out-of-warranty repairs or damage resulting from external physical intervention or misuse are handled under separate written repair authorization.

We may temporarily allocate equivalent hashrate while a hosted device is repaired or replaced so the service commitment continues. Ownership of the original hosted device remains with the Customer.

11. Uneconomic operation and Customer choice

Operation is considered uneconomic only when projected Net Output after the fixed contractual deductions is zero or below. We do not accumulate undisclosed operating debt. We notify the Customer through the account and registered email and provide up to 30 days for a decision.

A Hosted Miner Customer may choose a pause of up to 30 days or terminate hosting and receive the owned device after paying the disclosed delivery cost.

If the Customer does not respond, service is placed in a safe no-fee pause while reasonable contact attempts continue. It does not remain silently suspended until expiry.

12. Customer representations and obligations

• Provide accurate identity, contact, company, tax and wallet information.
• Keep account credentials secure and notify us promptly of suspected compromise.
• Use lawful funds and comply with applicable sanctions, anti-money-laundering, tax and digital-asset laws.
• Do not use the service for fraud, money laundering, sanctions evasion, unauthorized third-party benefit or prohibited activity.
• Review notices and keep email and account information current.
• Pay all applicable invoices, shipping, repair, tax, customs and other accepted charges when due.

Identity or business verification is not routinely required. Limited verification may be requested where reasonably necessary for a refund to a different bank account, suspected fraud, account protection, payout validation, or compliance with a specific legal obligation.

13. Hosted Miner options after 365 days

Storage is free for 90 days after expiry. Thereafter, $30.00 per device is charged for each 30-day period after advance notices. Before any sale to settle unpaid storage, we issue a final 30-day notice, obtain a reasonable market valuation, deduct only documented amounts and preserve any remaining balance for the Customer.

15. Cancellation and refunds

A Hosted Miner Customer may end hosting at any time, settle Net Output through the termination date and request insured DDP delivery of the owned device under a destination-specific DDP quote; the hardware purchase price is not refunded because the device is returned to its owner.

Refunds use the original payment rail. Bank payments return to the originating account; a different bank account requires a written request, valid identity verification and proof of beneficiary ownership. Bitcoin refunds are returned to a securely confirmed wallet and represent the USD refund value converted at the enabled provider rate when processed. Bank-to-Bitcoin and Bitcoin-to-bank refunds are not supported.

Nothing removes mandatory consumer rights.

16. Force majeure and prolonged interruption

Neither party is responsible for delay caused by an event beyond reasonable control. If such an event prevents attributable mining, the affected Customer may choose an equivalent extension. If interruption continues for 30 consecutive days, a Hosted Miner Customer may terminate hosting and request return of the owned device.

We are not responsible for speculative profit or coin-price movement, but this does not limit a confirmed refund, service credit, property return or liability that cannot legally be limited.

17. Governing law, disputes, notices and contact

This agreement and any non-contractual obligations arising from it are governed by the laws of Singapore, subject to any mandatory consumer protection law that cannot legally be excluded.

The parties will first attempt to resolve any dispute in good faith through written communications. If the dispute remains unresolved, it may be submitted to Singapore International Arbitration Centre (SIAC), where legally permitted. Nothing in this clause limits any mandatory consumer right or access to a competent authority or court that cannot lawfully be excluded.

Operational and contractual notices may be delivered through your account, order record or registered email. We may update these master terms for future orders. Material changes affecting an active contract will be communicated where required; an accepted order-specific rate or right is not silently replaced by a later website change.

Personal information is processed under the Privacy Policy. Questions about these terms may be sent to [email protected] or through the contact page.