5700xt GPU Mining Machine
What is a mine?
Mining fields are known as the gathering of mining machines in one place for collective management. Mining fields are known as highly-professional collectives that conduct highly-efficient management on various conditions of mining activities such as ventilation, dust prevention, temperature and moisture control, hardware and software of mining machines and electricity resources, etc. Mining fields are normally built in those areas with cheaper electricity costs.What is cloud mining?
The essence of cloud mining is to be part of a mine and holding miners to gain BTC profits. Your mining is already starting as soon as you purchase and your daily BTC earning is valid immediately. Just one click without doing the flowing.
Cloud Computing Power Product Introduction —— ETH GPU Mining
a. Currently, the mining activities of ETH are mostly conducted through GPU mining machines, which resemble PC that we use at home. However, there are 6-10 GPU installed in each mining machine, and mining machines are not equipped with any monitors.
b. The reason that none of the ASIC mining machines are created for ETH like they are created for BTC is due to the fact that ETH has its own unique mining mechanism. During the mining process of ETH, a DAG file will be generated, and the DAG file will be continuously called. Hence, a special space is required to be created to store the file. The mandatory requirement on storage space leads to the fact that even if ASIC chips are created for the mining of ETH, they will not greatly reduce the cost of each unit of computing power.
c. Starting from June this year, the amount of assets locked up in DeFi projects is increasingly growing. The prosperity of DeFi projects has led the public to rediscover the innate value of ETH. Also, the frequent on-chain operations have led to the increasingly growing of the consumption volume of ETH, and meanwhile, this part of consumed ETH will be paid to miners as gas fee, which leads to the fact that the incomes of miners are growing as well
d. It is expected that, by the end of 2020, all GPU mining machines with 4G of RAM will have to be eliminated from the market due to the growing size of the DAG file. There are two options for the holders of these eliminated mining machines, the first option is to quit for liquidation, and sell out the machines for their remaining values. The second option is to upgrade the machines from 4G of RAM into 8G of RAM. However, considering the fact that these GPU mining machines themselves have been putting into use for a long time, their qualities vary from each other, and that the dismantlement, reinstallation and bumpiness that may occur during the transportation of these machines, it is obvious that not all machines can be upgraded successfully at the end. It is estimated that the upgrade process will cost approximately 10% or 20% of loss in computing power. On the other hand, for any investors or miners who directly invest on GPU mining machines with 6G or 8G of RAM, the elimination or termination of other mining machines means that the mining incomes of our mining machines have increased.
e. GPU mining machines are different from ASIC mining machines. As long as there are consumers who intend to purchase ASIC mining machines, the factories can simply produce them on full power, the capacity of production of ASIC mining machines can be regarded as unlimited. However, there are only two core suppliers of GPU mining machines, namely AMD and NVIDIA. The core businesses of AMD and NVIDIA are aiming at normal consumers, and they will not randomly increase their capacity for production based on the high demands of mining activities. Hence, the supply of mining machines are not unlimited, and will not increase rapidly within a short period of time either.
f. The market of GPU mining machines itself involves a lot of hidden rules and tricks as well. Currently, there are more than a dozen brands of GPU available on the market, which involve various types as well, and there are even unbranded GPU out there as well. The qualities of different GPU made by different manufacturers vary a lot from each other. When purchasing GPU, the consumers have to take various factors into consideration, which include material, heat sinking, quality, sizes, etc. It is obvious that normal users are not able to identify all tricks in the GPU market, and it’s also hard to explain all these tricks within a short period of time. Hence, we strongly recommend normal GPU users not to randomly purchase GPU mining machines from any unfamiliar manufacturers. It is recommended that users should purchase their GPU mining machines through professional teams with professional staff to control every aspect of the purchase, assembling, transportation, and maintenance for the avoidance of any potential loss.
The static return cycle and related formulas
Generally, the static payback period of the product is the price of the product divided by the daily income that the product generates for the user, which involves two formulas as below:
• Static Payback Period = The price of each unit of the product (Calculated in ETH) / The daily ETH income generated by each unit of the product for the user
• The daily ETH income generated by each unit of the product for the user = The number of units of computing power held by the user x theoretical daily amount of ETHM token generation X (1-5% of service fee) x (1 - 3% of mining pool charge) - electricity fee (The electricity fee will be deducted in ETH from daily income)
• The calculation method for the daily electricity fee of 1M of computing power: Power Consumption x time x electricity cost ÷ the price of ETH/USDT transaction pair by 8:00 of the day (UTC+8).
Which is: 0.00373Kw x 24 Hours x $0.055 ÷ the price of ETH/USDT transaction pair by 8:00 of the day (UTC+8).
Comparison And Contrast Among Various Types of Cloud Computing Products
Details of ETHM Contract
Miner Type : AMD 5700xt 8G GPU Mining Machine
Hashrate : 450±5M/Each
Hashrate Unit : M（1M= 10^6HASH/S）
Reward Payment Time: 08:00(UTC)
Management Fee : 5%
Total Hashrate : 7632M
Electricity Cost : 0.00492$/M/Days
Product Name : MTETH2308
Minimum Purchase : 1
Product Term : 3year
Purchase Instructions
1.1 Definition of MNTK2201
The total amount of computing power under this contract is 15,984 M (The unit M of computing power represents M Hash/S, same below), 1M of computing power corresponds with 1 MTETH2308 (2308 represents that the maturity date of the contract is August 2023).
1.2 Price in Purchasing Session
The subscription price will be based on the fair market value of each M of computing power.
1.3 More about Pricing
The price of the product will be affected by various factors such as the price of cryptocurrency, difficulty of mining, price of mining machines. The actual purchase price will be determined by the price by the time the user finishes his / her payment.
1.4 Note
1.4.1 By purchasing 1 MTETH2308, the user can be seen as holding 1M of computing power.
1.4.2 This product is not refundable after payment.
1.4.3 The incomes generated from the computing power that corresponds with the product will be distributed in ETH.
1.4.4 The daily rewards will be transferred into your investment account at 08:00(UTC)
1.5 Disclaimer of Uncontrollable Risks
Disclaimer of Force Majeure: Hotbit will not be responsible for any losses or damage caused by any force majeure risks, for example: objective issues that are unforeseeable, unavoidable or unconquerable, which include natural disasters such as flood, volcano eruption, earthquake, landslide, fire, extreme weather, government actions and orders, municipal level of power outage accidents and abnormal social issues such as war, strike or upheaval, etc.
Distribution and Payment of Rewards
2.1 Factors:
In case that the mining difficulty of ETH increases, the mining incomes will correspondingly decrease. Vice versa, in case, that the mining difficulty of ETH decreases, the mining incomes will correspondingly increase. In case that the price of ETH fluctuates, the electricity fee calculated in ETH will also fluctuate, which leads to the fluctuations in mining incomes as well.
2.2 Rewards Income
2.2.1 Last 24 hours’ rewards for each client will be distributed before 08:00 (UTC) every day.
2.2.2 After the subscription period of MTETH2308 terminates, MTETH2308 will be available for trade on secondary market. The users may sell out their MTETH2308 on secondary market at any time and withdraw from the contract.
2.3 Management Fee
2.3.1 Under most conditions the mining pool fee is about 3%.
2.3.2 The supplier of the computing power charges 5% of daily mining yield as a management fee, which includes the maintenance of the mining field, deployment, and repair of mining machines, cost of human resource, unexpected emergencies, risk fund, etc.
2.4 Electricity Fee
The electricity fee of the contract of 5700xt GPU mining machine will be $0.00492/MHS/Day. The electricity fee will be deducted by the distribution of incomes.
Clearing Rules and Termination Condition
3.1 The contract duration of MTETH2308 is 3 years, which means that the maturity date of the product will be August 2023. After the maturity date of the product, no further incomes will be generated.
3.2 After the subscription period of MTETH2308 terminates, MTETH2308 will be available for trade on secondary market. The users may sell out their MTETH2308 on secondary market at any time and withdraw from the contract.
Risk Warning
4.1 The price of cryptocurrencies frequently involves huge fluctuations, and the mining difficulty of ETH will also adjust from time to time, which leads to the uncertainty regarding the incomes of the product. The contract cannot guarantee that the users will receive positive incomes under any situations. The users are required to carefully evaluate their own capacity of risk tolerance and conduct their investment activities within the boundary of their own acceptable level of risk tolerance.
4.2 Hotbit respects the local laws and regulations of the place where the product is issued. At present, Hotbit DOES NOT provide services to clients in more than ten countries and regions, including Mainland China, Ecuador, Denmark, India, Bolivia, Thailand, Nepal, Iran, etc.
Disclaimer
Hotbit reserves the final rights on the explanations and interpretations of all rules and regulations of the event. If Hotbit detects any cheating, click farming or matched trading activities, Hotbit is entitled to disqualify any users involved in such activities from claiming their rewards.