and you may have real problems getting your equipment past angry landlords if they have gone under owning money.
Indeed, this happened to me. I was hosting one SP10 and one Cointerra with a company in Oregon, and they ran into financial difficulties and couldn't pay their landlord. After they defaulted on rent and electricity, their landlord locked them out of their warehouse, and wouldn't allow them to return my equipment to me. I called the landlord directly, but he couldn't legally allow me access to their space either. I ended up paying them a few hundred dollars over what I owed them to help them get me my machines back. It was practically extortion. Not fun. They had a good insurance policy. I don't think it covered bankruptcy due to mismanagement. I guess I forgot to ask. (For what it's worth, we paid our landlords 6 months' rent in advance.) I'm not fully aware of hosting issues. But are we properly covered in the case of major disruption issues (machines stolen, hardware damaged, etc...) ? Is there an insurance ? And what about the contract ? For what it's worth, I am posting here a link to a portion of the policy document we got from Liberty Mutual. My purpose in publishing this is for people to comment on what we and our clients are covered for. I believe it mentions coverage or non-coverage in case of machines stolen or hardware damaged, but rather than review it again myself, I invite people to review it and comment. Liberty Mutual Coverage |
|
|
|
We got 50+ units currently running. Who wants to host them?
What insurance do all these new companies have to protect the equipment in case they go under, run off with the equipment etc.?
Good question, although I would suggest that you might want to look at taking out your own insurance if these scenarios worry you - their insurance may or may not cover you for your equipment, and you may have real problems getting your equipment past angry landlords if they have gone under owning money. We'd also be very interested in hosting your units, we've been around in the IT services industry for decades and running data centres for many years with lots of customers from individually owned bitcoin miners through to large financial institutions. We charge Euro90/kW/month. Yes, the kind of insurance coverage that the hosting company can buy would not protect the miner owner in case the hosting company went bankrupt or "runs off with the equipment". You just have to trust the hosting company. We just got started last March, and so like most everybody else here we don't have much track record. Centerus Inc has been in existence as a corporation in Washington since 2009. I am not secretive about who I am. My name is Carlos C Tapang, and you can search for my name (I hope you find only good things about me  ). |
|
|
|
|
jtoomim, I just PMd you about the insurance agency.
|
|
|
|
Insurance. The assurances and tours will be for the insurance company's benefit.
Our hardware consists mostly of SP10 with a handful of 30's. Movement of most within 14 days.
Why not have someone establish a relationship now with an insurance company where you are, detail what is what. Once established even if it is necessary a foreign entity like us would consider taking out our own policy with them covering our concerns in your operation provided the rates are reasonable. You would need to establish this; detail what mining is and everything related to it and hosting. Then you could introduce us so that we do not have to explain everything to them including who you are and what it is all about, and review what exactly it is that they could offer and for how much.
It's mostly a matter of me having way too many other things to do and the employees of mine who don't have too many things to do not knowing how to explain things in order to placate the flighty insurers. Part of it also is the fact that we only filed our LLC paperwork last week. Also, most of the insurance companies we've talked to simply refuse to insure datacenters, due to the enormous liabilities involved with data loss. The rest are taking their sweet time getting back to us. It's been a constant struggle to convince them that we don't have any data to lose, and we're just trying to insure the hardware. Trying to explain what bitcoin mining to insurance agencies would be ever so much more difficult. We'll do it soon, but this isn't something that we can accomplish in an hour or two. We can handle your machines now. Do you have mounting brackets for the SP10s, or will we need to order some more? We only have 9 in stock right now. You need to talk to a local insurance agent. We called several, until we found somebody who spent the time and took a look at our setup. It took him sometime also to find an insurance company willing to do it. Liberty Mutual is it. |
|
|
|
|
We are covered by a policy from Liberty Mutual. I can send you email with a scan of the insurance policy, just PM me.
|
|
|
|
|
Thinking of ordering a few S3 Antminers, but not sure where to host them? If you entrust your S3 Antimers with us, you don't have to order the power supplies separately. We provide the power supplies and everything else needed to get your S3 mining for you within 24 hours of arrival. All you have to do is place your order with BitmainTech.com, and have the Antminers shipped to us. Email us the tracking numbers and your mining setup details (pool and miner data). At the same time, send us an initial payment of N * 0.125 BTC, where N is the number of S3s you are shipping to us. When we receive your email, we will send you back our standard hosting agreement for your signature.
We will have your S3 Antminers mining for you within 24 hours of delivery to us.
|
|
|
|
|
Question: should we be bidding against coinwin? His/her activity is less than 15, but by participating in this auction, can't her activity go up to 15 eventually?
|
|
|
|
|
Show Posts
