Now that you have purchased mining hardware hosted through Compass Mining you will begin receiving recurring invoices. These will come in different forms depending on your initial purchase. If you financed your hardware you will receive monthly invoices according to your purchase plan. All customers who have miners online will receive monthly hosting bills which cover the cost to host their hardware at our partnered facilities around the world. We have written this article to help you understand these invoices and to clear up any confusion associated with billing. If you need additional details feel free to contact us.
If this is your first purchase be sure to check out our What to expect with your first invoice article.
Contents:
- What can I pay with?
- Why is my checkout invoice higher than the price listed on the hardware page?
- Why is my first hosting invoice different than the Hosting rate?
- Will my prepaid hosting be reimbursed if my miner is down?
- Why is a payment method missing?
- Why am I getting errors when paying with Credit Card?
- Why can't I pay with Compass Credits?
- Paying with crypto.
- Why doesn't my bank appear when making a Wire/ACH payment?
- Why do different miners have different start and end dates?
- Where can I find my initial purchase payment history?
- My miner is under repair, why am I continuing to receive hosting invoices for a miner under repair?
- How do I request a wire transfer payout?
- How long do BTC withdrawals usually take?
- I sold my machine and do not see the funds in my account, why have I not been paid yet?
- How can I use my Compass credits for further transactions?
- I live in a tax free state or I am a non-US customer, why am I seeing sales tax on my purchase and invoice?
- I want to change my Compass Mining account contact information, how do I do that? For example I want to change my contact information from my name to my LLC.
- I paid my invoice through ACH already, but the invoice still says not paid. Why is this happening?
- What happens if I have a past due invoice payment?
- Am I being charged hosting for my undeployed miners(s)?
What can I pay with?
Hosting fees are payable via Credit Card, ACH, Crypto, or your Compass Wallet balance. Bundle payments and payment plans are payable via ACH, Crypto, or your Compass Wallet balance.
To pay for outstanding hosting bills using your Compass Wallet balance, simply deposit USD, BTC, or USDT to your Compass Wallet at any time. Once these funds have settled, you can use your balance to pay any invoices.
Why is my checkout invoice higher than the price listed on the hardware page?
When purchasing your first miner(s) from Compass Mining you will notice that the price at checkout is higher than the price listed on the hardware page. This is because the final balance due includes:
- Hardware cost - Cost to purchase the miner(s).
- First month of hosting - The first month of hosting is paid in advance.
- A security deposit - A security deposit of one month's hosting fee is held during the life of the hosting contract. This is returned if the miner is sold on the Marketplace or if the customer takes custody of their miner at the end of their hosting contract. Customers can always renew their contract at the end of the term.
- Sales tax - Tax corresponding with the jurisdiction the miner will be hosted in.
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Why is my first hosting invoice different than the Hosting rate?
When your miner goes online your hosting contract begins and you will start receiving monthly hosting invoices. The first month (30.4 days) of hosting has already been paid at checkout when buying the hardware. Invoices will appear in your dashboard on the 15th of the month and will cover the next 30.4 day period of your contract. Invoices will be due on the first of the month giving you ~15 days to pay the bill.
You may notice that your first hosting invoice is higher than the rest. This is because while we are deploying miners your machine will get physically powered on before the start date is entered into our system.
To double check the billing period being covered by your invoice, you are able to click into the invoice through your Compass Mining dashboard. The additional dates included in your bill should only impact your first invoice for each miner. Future invoices should be a consistent amount reflecting the normal monthly hosting fee.
Will my prepaid hosting be reimbursed if my miner is down?
Hosting invoices are paid in advance. You will be billed for August hosting in July. So how are customers reimbursed for miner downtime? All downtime reconciliations are addressed by Compass Mining issuing facility downtime credits in the form of Compass Credits to your account. Downtime will not be reflected on hosting invoices. If downtime occurs due to a wide-ranging facility-level issue downtime credits will be issued in accordance with the hosting agreement.
For more information on downtime credits, you can review the resources we have on our website:
Why is a payment method missing?
This issue can sometimes be caused by certain internet browsers. A simple resolution suggestion is to try using a different internet browser to see if you can check out just fine using that browser. If you are using Google Chrome or another Chrome-based browser when having an issue, we suggest that you try with a non-Chrome-based browser when attempting with a different internet browser.
Hosting fees are payable via Credit Card, ACH, and Crypto. Bundle payments and payment plans are payable via ACH and Crypto.
Compass Mining only allows wire payments as an option on initial purchases of miners that we have an adequate amount of inventory. This is because wire payments can take multiple days to process and we can’t guarantee that inventory will still be available by the time the payment settles. This most often impacts Compass Marketplace purchases and miners that have very limited inventory amounts.
Why am I getting errors when paying with Credit Card?
This issue can sometimes be caused by certain internet browsers. A simple resolution suggestion is to try using a different internet browser to see if you can check out just fine using that browser. If you are using Google Chrome or another Chrome-based browser when having an issue, we suggest that you try with a non-Chrome-based browser when attempting with a different internet browser.
Please disable pop-up blockers: How to Turn Off the Pop-Up Blocker in Safari for iPhone & iPad (osxdaily.com) You should try to enable the pop-up blocker and then disable it again - the checkout window will then ask you to allow the popup to Squareup. You can also try clearing the cache and then again go through the process of enabling and disabling pop-ups.
If you continue to run into errors and are receiving repeated error messages, please submit a support ticket with the error code referenced in the ticket.
Why can't I pay with Compass Credits?
This issue can sometimes be caused by certain internet browsers. A simple resolution suggestion is to try using a different internet browser to see if you can check out just fine using that browser. If you are using Google Chrome or another Chrome-based browser when having an issue, we suggest that you try with a non-Chrome-based browser when attempting with a different internet browser.
Please disable pop-up blockers: How to Turn Off the Pop-Up Blocker in Safari for iPhone & iPad (osxdaily.com) You should try to enable the pop-up blocker and then disable it again - the checkout window will then ask you to allow the popup to Squareup. You can also try clearing the cache and then again go through the process of enabling and disabling pop-ups.
Please make sure that all checkboxes have been properly reviewed and checked as you go through the payment checkout process.
Paying with crypto.
When paying with crypto you will be presented with a 1-hour window to pay your invoice. If you do not make payment in the 1-hour time frame then you will need to generate a new invoice to pay. Payments do not need to be confirmed within this time frame. If I make a Bitcoin payment, it will sit in a pending state until the payment is confirmed. The payment is recognized as valid but is not official until it is confirmed.
Why doesn't my bank appear when making a Wire/ACH payment?
Your bank doesn't appear on the list because it doesn't support Square. You can Wire/ACH payments directly to our bank account using the information below. Please include your invoice number in the memo field of your payment. Include any additional information in the memo field and we will update your invoice once the payment clears.
Wire/ACH payment details:
Beneficiary Account
Name & Address: COMPASS MINING INC
Name & Address: 78 SW 7TH ST SUITE 500
MIAMI FL 33130
Beneficiary Account #: 1504551748
For Domestic Wires: Routing Number (ABA)
026013576
For International Wires: Swift/BIC Code
SIGNUS33XXX
Beneficiary Bank: Signature Bank
565 Fifth Avenue
New York NY 10017
Why do different miners have different start and end dates?
Each miner's billing cycle is based on its listed online date, this is why you may see different hosting dates for each miner on the same invoice. You can review the hosting dates that are being billed for each miner by clicking on the invoice through your Compass dashboard.
Where can I find my initial purchase payment history?
What can be found under the Payment History of the dashboard section is your past paid hosting invoices and recurring monthly bundle or payment plan invoices. You are not able to see initial miner or bundle purchases in Payment History at this time. We are working to add initial miner and bundle purchases to the Payment History, but until this is a feature you will have to submit a support ticket asking us to manually issue you paid invoices for these purchases.
My miner is under repair, why am I continuing to receive hosting invoices for a miner under repair?
As your miner goes through the repair process you will continue to be billed for hosting. Once the unit is back online you will receive Compass Credits to offset the hosting costs. You can use these Compass Credits to pay any hosting invoices.
For more information on downtime credits, you can review the resources we have on our website:
https://support.compassmining.io/hc/en-us/articles/4406470995485-How-are-downtime-credits-calculated-and-applied-
How do I request a wire transfer payout?
When you initiate a wire transfer payout through Prime Trust, Prime Trust will send a confirmation email right away. The email should come within minutes and the email should show the last 4 digits of the Prime Trust account. You must hit “Confirm” in the email for the funds to move. The link will expire within 24 hours.
How long do BTC withdrawals usually take?
BTC withdrawals are processed three times per business day by Prime Trust. This means that BTC withdrawals should usually be available by the end of the next business day if the withdrawal is processed correctly. Prime Trust will send a confirmation email if a BTC withdrawal has been successfully initiated, and there should be a confirmation link that needs to be reviewed in this email.
I sold my machine and do not see the funds in my account, why have I not been paid yet?
USD will appear in your Compass Wallet within approximately 7-10 business days of the sale.
How can I use my Compass Credits for further transactions?
Your Compass balance can be used on Compass Mining transactions through our website, including miner purchases and hosting invoices. Any available Compass Credits should be displayed in your credits balance viewable in your dashboard. As you go through the payment checkout process for any type of payment, you should be able to select your Compass Credits as a form of payment.
I live in a tax-free state or I am a non-US customer, why am I seeing sales tax on my purchase and invoice?
Generally, sales tax is based on where the miner is being delivered, and not based on where you live. Compass Mining is required to charge the applicable sales tax based on where the miner will be delivered and hosted.
I want to change my Compass Mining account contact information, how do I do that? For example, I want to change my contact information from my name to my LLC.
If you would like to move all your miners to your business entity (LLC, Corp., Inc., etc.) within your Compass account, you can change your name and email on your dashboard to whatever your entity name is.
I paid my invoice through ACH already, but the invoice still says not paid. Why is this happening?
Square payments can take up to five business days to fully settle, so your invoice status will not update to Paid in your dashboard until the payment is fully settled and confirmed on our end. Most of the time the payment will confirm but will need final settlement. The dashboard will automatically update when completed. If you have received confirmation that your payment was initiated, please do not submit another payment and continue to check your dashboard for a status update to Paid.
In rarer instances, this situation can occur with credit card payments Again, as long as you have been notified that the payment was properly initiated, the invoice status should update automatically after a few business days.
What happens if I have a past due invoice payment?
Any day after the due date, your hosting service can be disconnected and late fees can be assessed.
- Any past due invoice makes your whole account past due and would result in
- all hosted units being disconnected from your pool
- $25/unit late fee for all deployed units
Once units are queued for disconnection, the only way to either remove them from the queue or reconnect the units if they’re already disconnected is to pay all past due invoices and late fees.
Am I being charged hosting for my undeployed miners(s)?
No, we only charge monthly hosting for miners that are deployed, effective the date it starts mining. Each invoice lists miners that are included in that invoice by both their Miner ID (ex: a8146ddae6) and Worker ID (ex: 57x10x100x202). The only miners that are on your invoice will be seen in your pool account.