In an effort to help our members to take mining to the next level, we will now be introducing the Open-Ended Hardware Agreement.
This new product varies from the 3-Year Hash Rate Agreement in many ways, offering a unique alternative for our expert-level members who can now have more control over their mining experience.
What is the Open-Ended Agreement?
The Open-Ended Hardware Agreement is just that: an open-ended agreement with no defined limit or end-date. Rather than participating for a set duration of time (one or three years, like our previous agreements), Open-Ended Agreements last until they are no longer profitable, following the trend of several major mining cohorts already active in the crypto mining space.
Other product details include:
- Minimum purchase of $100
- Costs $2 per unit
- Know the hardware configuration before you buy
- Higher possible returns in a short amount of time
- Agreements with no length restriction
- Agreements last until they no longer bring desired mining rewards
- Agreement length based on hardware performance
- Ability to vote on which pools and coins will be mined
How Does it Work?
As you choose to purchase the Open-Ended product, you will begin by selecting which agreement you’d like to join. Rather than presenting just one option or “batch” for the week, Mintage will offer two or more agreements with different start dates for users to choose from.
As an Open-Ended Miner, you will know what hardware you are buying a share of, and will have the option to help choose the mining pools and coins you’d like the batch to mine, giving you more control than with the 3-Year Hash Rate Agreement. By using a voting system, all members with purchased units will have a vote in the specifications of their agreements, with the goal of optimizing to maximize personal BTC rewards.
Agreements will remain active and pay out on a weekly basis until they are no longer profitable. As an agreement falls below the range of profitability, it will be temporarily shut off until a BTC reward becomes available, and will be terminated once the agreement has generated desired results for eight consecutive weeks.
The nature of open-ended agreements is that they will traditionally yield a higher BTC reward at the onset, with returns diminishing over time and mining stopping as they become unprofitable.
More Control For Our Members
By purchasing units within an Open-Ended Hardware Agreement, you gain the ability to have a say in which coins and mining pools are used for your agreement. After your agreement begins, login and cast your vote at any time by locating your agreement in the History tab.* If no vote is cast, your vote will remain on “Autoswitch”, allowing the Mintage AI to select the best mining options for the week. Check in with your agreements regularly to see which coins, pools, and hardware are being used, or even change your vote at any time.
*The weight of each vote will be determined by the number of units purchased within the batch. For example, a user purchasing 50,000 units within a batch will have more voting weight than someone who purchases 25.
Do I Have to be an Expert to Participate?
Because the Open-ended agreement requires more user involvement than our products in the past, Mintage recommends that only those with an elevated grasp of crypto mining choose to participate. A clear understanding of different hardware, coins, and crypto mining itself are recommended to truly get the most out of the Open-Ended agreement.
We still recommend the 3-year product as a great option for anyone who may not feel ready to take the next step. If you’d like to experience all the Open-Ended Agreement has to offer, we’d recommend educating yourself, so you can take on your agreement with less confusion or difficulty.*
*To further educate yourself and prepare to access the Open-Ended agreement, we’d recommend researching the following subjects: crypto mining, mining pools, mining hardware, coins, algorithms, etc.
Why is Mintage Making These Changes?
In an effort to provide the greatest opportunities to our members, and remain as legally compliant as possible, Mintage is constantly working to improve and evolve our product offerings. With the introduction of an open-ended agreement, we are making changes with the following goals in mind:
- Give our members more options in their agreement selection
- Put the power in the hands of our Mintage users by allowing them a voice in the mining process
- Provide an advanced mining option for experts who want to take mining to the next level
- Remain as legally compliant as possible
Get in on this week’s batch before it closes this Thursday!