You will see hosting fee referenced throughout our website as well as on your monthly hosting bills. This article is written to answer any questions you may have regarding hosting fee.
What is a hosting fee?
Hosting fee is the operating cost (Opex) to host your miners with Compass. This includes everything associated with powering, trouble shooting and maintaining your machine(s) and is billed in Fiat. The hosting fee can be paid using fiat or crypto. Here is a is a list of everything included in this Opex cost:
- Electricity costs to run your machine(s).
- Basic troubleshooting.
- Basic hardware maintenance.
- Facility maintenance and staffing.
- Compass hosting services and products.
- 24/7 Access to our customer service team.
Where can I see my hosting fee?
Hosting fees are charged monthly and can be seen on your customer's dashboard. We bill customers a flat fiat hosting fee based on each miners power draw specifications, and the facility location. This will often appear as many separate line which each need to be paid by end of the month.
How is my hosting fee calculated?
Hosting fee includes all the previously mentioned items above. This is charged as a flat monthly rate billed in fiat. This fee is locked in for the length of your hosting contract. In order to remain competitive Compass aims to keep our hosting fee as cheap as possible. Compass aims offer hosting capacity in locations with the cheapest electricity. We are constantly looking for new partners who can offer competitive commercial rates. Due to the high electricity demand of mining we're able to find cheap electricity that only comes from high uptime, high demand, power purchase agreements. These savings are passed along to our customers.
NOTE: New and renewed hosting fees are subject to change due and may be affected by the change in energy markets.
If you have interest in becoming a Compass Verified hosting facility please reach out!
What is my One Month Security Deposit?
The Security Deposit is money collected by Compass as proof of intent to proceed with their hosting contract. This is a one time charge that is collected when purchasing a hosting agreement. For buy and host products you own the miner and are providing a security deposit to help ensure your intent to proceed with the hosting service. This will be returned to the customer once the miner and hosting agreement is sold in the marketplace OR at the end of the hosting period if the customer chooses to custody the miner(s).
What is my One Month Hosting Fee/Prepayment?
Hosting fees are collected in advanced. If you have a hosting contract with us you will pay for February's hosting in January. A hosting prepayment is a payment for the following months hosting fee. Any discrepancies or interruption in this bill can be retroactively provided in the form of credits at a later date. Learn more about Downtime Credits.
Can I cancel my hosting agreement?
Hosting agreements cannot be cancelled, however they can be transferred via the Compass Marketplace. At any time you can choose to take custody of your miner. Compass will ship you the machine but you are expected to pay out the remainder of the hosting contract. If you choose to sell your machine via the marketplace then the remainder of that hosting contract will be transferred to the buyer.