HOW BILLING AND CREDITS ARE ACCOUNTED

Modified on Mon, 04 Mar 2024 at 02:35 PM

  

    The purpose of this guide is to provide you with clarity and confidence in your financial dealings with us by explaining the nuances of our accounting procedures, invoicing and billing system relating to how hosted equipment’s electric consumption usage is billed, reconciled and consumption credits are applied to customers billings.

 




1. Billing Structure:

  • Usage-Based Billing: Our billing system operates on a usage-based model, meaning you are billed for the resources consumed by your hosted ASIC miners.
  • Metered Usage: Power consumption from period beginning to period ending meter readings are used to calculate your bill accurately. 

 

2. Factors Affecting Billing:

  • ASIC Miner Specifications: Billing is primarily based on the faceplate wattage of the ASIC miners hosted, adjusted for actual power consumption. The faceplate wattage serves as an estimate, but actual usage may vary due to environmental conditions such as weather and workload fluctuations. 
  • Online Activation: ASIC miners are put online for operation only after the initial invoice, covering the first and last month of hosting, has been paid.


3. Billing Cycle and Invoicing:

  • Billing Period: Our standard billing cycle spans one month, commencing from the date your ASIC miners were installed and operational.
  • Invoice Generation: Invoices are typically generated at the end of each billing cycle and are accessible through your Manage Billing portal.
  • Payment Methods: We accept various payment methods for your convenience, including debit cards, bank transfers, and online payment platforms.


4. Prepayment and Adjustments

  • Customer Prepayment: Upon ASIC miner installation, we require prepayment for the first and last month of service, along with signing a hosting agreement before going online.
  • Adjustments: Adjustments for factors such as changes in electricity usage are made after payment, typically reflected in subsequent billing cycles. This includes adjustments for over and under consumption of electricity.


5. Billing Reconciliation and Fluctuations:

  • Hashrate Fluctuations: Hashrate fluctuations of up to +/- 10% are accounted for in our billing calculations.
  • Reconciliation Timing: Reconciliation is not feasible within 1 month due to various factors and the complexity of billing calculations. For example a reconciliation for the month of January will not be reflected until March, a reconciliation for the month of February will not be reflected until April.  
  • Billing Period: Each billing cycle spans 31 days, regardless of the number of days in the month, ensuring consistency and predictability in 24/7/365 service billing.


Consumption reconciliations will only be made for units with zero electricity usage for over 24 hours.


Conclusion: 

    At Stellar Forge Mining we prioritize transparency and fairness in our billing practices for hosted ASIC miners. It's essential to note that ASIC miners' electricity consumption is not a fixed amount like what manufacture's faceplate ratings state and in reality there are multiple fluctuations minute to minute in electric consumption from changes to environmental conditions such as weather and workload fluctuations. By providing insight into our billing structure, prepayment policies, reconciliations, adjustments, and billing cycle details, we aim to facilitate a seamless experience for our customers. For further inquiries or assistance, our dedicated support team is available to assist you. 

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