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 agreed-upon 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 please contact us.
What to expect with your first invoice:
Compass Mining charges a flat monthly hosting fee for each miner you have online. This hosting fee is a prepaid service meaning that hosting invoices will be charged for future dates. Example: Customers will be billed in January for February hosting.
This hosting fee is a flat monthly bill that assumes 100% uptime. This includes electricity costs, hardware, facility maintenance, and access to the suite of Compass products and services.
Each miner's billing cycle is based on the actual date that the hardware was deployed. If you own multiple miners, this will mean that each miner has a unique billing period depending on when the hardware was initially deployed. This means your monthly invoice does not cover the period from the 1st day to the last day of the month.
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.
FIRST PURCHASE
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 is held during the life of the hosting contract. This is returned if the miner is sold to 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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FIRST HOSTING INVOICE
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.
MINER DOWNTIME
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: