"Why do I keep receiving my invoice earlier and earlier"
We have been refining our invoice calculation and distribution strategies as we mature our company. Our aim has been to make invoices available as early as possible to provide ample time to pay and to have the invoice due on the 1st of each month to give us ample time to pay the facilities.
What period am I being billed for?
Your billing period is on the detailed view of the invoice.
Can I set-up Auto-charge? If so, how will credits be applied
You will not be able to set up autocharge immediately. We will have more details on how this will work closer to release of the functionality.
Can I pay using the same method for Bundle Payments, Hosting Fees, Compass Payment Plans, etc?
There is no change to payment method options for each type of invoice in this change. Hosting fees are payable via Credit Card, ACH, and Crypto. Bundle payments and payment plans are payable via ACH and Crypto.
Why are we making this change?
We are making this change to simplify billing. Instead of paying a variable amount of money each month for hosting, you will pay the same amount. For orders placed after January 21, 2022, the monthly bill will match the amount you paid for the deposit and first month hosting in checkout.
When will I receive my first bill?
You will receive your first bill during the week of the first 15th of the month after your machine started mining. It will be due on the first of the following month.
How does the first bill amount compare to the irregular previous first bill amount?
Every month, customers are required to prepay hosting bills on the first of the month. In your initial order, there was a hosting deposit (held for the length of the hosting agreement) and a hosting prepayment for the first 31 days of hosting. For example, if your miner began hashing on 10-14-2021, then the prepayment covers through 11-14-2021. As a result, on the 1st of November, you had to prepay the month's electricity bill, but the total was smaller than usual as it was only for 11-15-2021 through the end of the month.
In the new system, the first bill will be for the same amount as in the checkout as we have standardized bill amounts throughout the year’s subscription.
Why is my invoice not for 28 days?
Each invoice is for 30.4 days, which is the amount of days in the year (365) divided by the 12 payments you are going to make.
How will my dashboard look?
Your dashboard will look the same as before except instead of focusing on kwH and amount of days in the month, we will display your billing period (screenshot below).
How does this affect my past invoices?
This does not affect your past invoices. If you’ve already been mining with us we have calculated your payment with the following formula (unpaid hosting fees remaining) / (number of payments in one year subscription remaining). You will have a flat rate fee for the remainder of your contract. At the end of 12 months if you continue mining with us, the subscription will renew and recalculate based on 365 days of fees divided by 12 payments remaining.
Do I still need to contact support to pay a hosting bill in full with credits?
Yes. However the team is working hard to ensure that hosting bills can be paid in full with credits through your dashboard in the March invoices.
Can I prepay my hosting/bundle?
Not yet but we will be building this soon.