TERMS OF SERVICES PROVISION

TERMS OF SERVICES PROVISION

 

  • Service Provider’s Information (henceforth the “Provider”)
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        1. Greek General Commercial Registry’s number: 149252701000
        2. Name: GX BLOCKS ENERGY S.A.
        3. V.A.T.: 801106783
        4. Country of Incorporation: Greece
      1. General Terms of Services Provision
        1. This website and the provided services are provided only to persons that are familiar with cryptocurrencies.
        2. Customers must be at least 18 years old.
        3. The language of these terms and conditions has been selected to address only interested parties in accepted countries.
        4. If you are residing in or are a citizen of: the Barbados, Jamaica, American Samoa, Nepal, Seychelles, Samoa, U.S. Virgin Islands, United States, Afghanistan, Pakistan, China, Algeria, Fiji, Guam, Bolivia, Panama,  Bangladesh, North Macedonia, Saudi Arabia, Vanuatu, Vietnam you may not receive services.
        5. These terms apply to all services concluded through this website and may be modified without prior notice. In any case, the modified terms will not apply retroactively.

     

  • Definitions
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        1. Service Provider: GX Blocks
        2. Service: The service described in point 4 of these terms and conditions.
        3. Customer: The natural person that undertakes the obligations of the present terms for them personally or the legal person that undertakes them.
        4. Platform: The Hash Power Provision Service that is hosted on GX Blocks Dashboards.
        5. Contract Term: The dates within which the service is provided
        6. Registered User: The natural or legal person that has completed the registration form and has been accepted by the Service Provider.
        7. Withdrawal: The periodic deposit to your Balance, dependent on the service.
        8. Balance: The sum of cryptocurrency mined by the use of the Service.
        9. “Confidential Information” refers to confidential or proprietary information of a party including, without limitation, business plans, strategies, forecasts and projections and information about business structures, operations, systems, finances, assets, investments, investment strategies, software and other technology systems, and personnel, customers and suppliers. Confidential Information does not include if it (i) is known to the receiving party prior to receipt from the disclosing party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing party; (ii) becomes known (independently of disclosure by the disclosing party) to the receiving party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing party; (iii) becomes publicly known or otherwise ceases to be confidential, except through a breach of this Agreement by the receiving party; or (iv) is independently developed by the receiving party.

        10. “Customer Hardware” refers to the cryptocurrency mining hardware which is leased to the Customer and specified in the Service Order.

        11. “Force Majeure Event” means a failure by the other party to perform any of its obligations under this Agreement, if such failure is caused by events or circumstances beyond its reasonable control, including, without limitation, acts of God, war, labor strike, terrorist act, fire, flood, earthquake, landslide, hurricane, typhoon, tsunami, volcanic eruption, inclement weather, health epidemic or any law, order, regulation, seizure or other action of any governing authority or agency. Not with standing the foregoing, in the event of such an occurrence, each party agrees to make a good faith effort to perform its obligations hereunder

        12. “Hosting Facility” or “Hosting Partner” means a data center owned, leased, operated or reserved by GX Blocks or GX Blocks 3rd party partners.

        13. “Losses” means all damages, judgments, liabilities, losses and expenses, including without limitation, attorney’s fees.

        14. “Mining Rewards” means the digital asset, cryptocurrency, virtual currency, digital currency, or digital commodity (e.g., Bitcoin and Ethereum) produced by the proof-of-work cryptographic protocol of a computer network and generated by Customer’s use of Customer Hardware.

    • Service Provision
      1. Service Level. GX Blocks Energy S.A. shall use commercially reasonable efforts to make the Services available to Customer ninety five percent (95%) of the time each month, except in the event of Maintenance, Customer Hardware failure, or Force Majeure Events. GX Blocks does not guarantee that the Service will not be interrupted by outages or shortages of power which are planned or unplanned and outside of Customer’s control, and GX Blocks will not be liable for the foregoing. GX Blocks cannot guarantee the supply of electricity during the winter and peak hours of the day and that there is a possibility of voluntary or involuntary downtime, curtailment by GX Blocks or the energy provider, or outages or shortages of power of no more than 600 hours in a calendar year.

      2. Service Order. . The Services will be ordered through the GX Blocks Site, available at https://gxblocks.net/, through the issuance of service orders which have been duly executed by the authorized representative of each Party (each, a “Service Order”). Service Orders may be changed only upon the written agreement of both Parties. In the event of a conflict between the terms of this Agreement and the terms contained in any agreed Service Order, the terms contained in the Service Order shall prevail only in respect of that order. Upon execution by both Parties, a Service Order shall be deemed to be a valid and binding part of this Agreement
      3. Facility Maintenance. GX Blocks and operators of the Hosting Facility shall be entitled to perform maintenance and any actions as deemed necessary or desirable with respect to the Hosting Facility and to maintain the network. Customer acknowledges and agrees that performance of such maintenance may cause the network to be temporarily inaccessible and the Customer Hardware may experience temporarily down-time or unavailable. GX Blocks and its Hosting Partners shall use commercially reasonable efforts to conduct such Maintenance in a manner so as to avoid or minimize the unavailability of the Services. If a scheduled Maintenance is expected to interrupt the availability of Services, GX Blocks may give Customer notice by email prior to conducting such Maintenance, identifying the time and anticipated duration.
      4. Hardware Maintenance and Repair. GX Blocks and operators of the Hosting Facility shall be entitled to perform maintenance and any actions as deemed necessary or desirable with respect to Customer Hardware.  To the extent that GX Blocks cannot perform simple repairs without passing costs for parts and labor onto the Customer, the Customer will be notified of an estimated cost and timeline for Hardware repairs to be completed.  GX Blocks will make every effort to repair Hardware on-site,  Hardware sent to the manufacturer for repair may be fully covered under a standard manufacturer warranty, but shipping costs will be paid at the Customer’s expense.  If the Customer does not agree with repair options or costs, the Customer has the right to cancel the Agreement and get a refund for the rest  duration of the contract. If Customer does not respond to options for repair provided by GX Blocks within (15) days, GX Blocks reserves the right to cancel the Agreement.


        1. GX Blocks provides the capability to receive hash power by leasing dedicated ASIC mining hardware and the Service Provider produces which may be used by the Registered User to mine crypto currency.
               1.1. The Registered User may choose to withdraw the cryptocurrency mined to another cryptocurrency wallet monthly.
        2. The Service Provider retains the right to deny service provision for any reason.
               2.1. Such cases may be non-compliance to KYC/AML measures that the Service Provider might take.
        3. The hash power provision service is provided on a best-effort basis.
        4. During the Contract Term you can use the Website to: 
          1. After appropriate KYC measures transfer cryptocurrency mined in a digital wallet based on the available digital currency formats that GX Blocks is offering .
          2. Change your cryptocurrency-specific wallet addresses
          3. Withdraw Options: 
            3.1. The user will have the following options to use for withdraw cryptocurrencies from their balance:
                 3.1.1. Blockchain Network: Based on the protocol of the cryptocurrency.

     

  • Contract Terms, Fees and Plans
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      1. The Service Provider retains the right to refuse withdrawals or the provision of the Services if there is a reasonable suspicion of criminal activity or if the Customer fails KYC/AML checks.
      2. The Contract Term shall start one day after the selection of the button “Proceed with Obligation to Pay”.
      3. Types of available Algorithm: SHA-256, EquiHash & Scrypt. 
           3.1. The use of one algorithm in connection with transaction verification for one or more blockchain protocols. At the commencement of the Term of the Service Provision, the Customer-selected algorithm may be employed for mining certain cryptocurrencies. 
      4. Type of Hashrate: TH/s (SHA-256), MH/s (Equihash) or KSol/s (Scrypt).
          4.1. This corresponds to the aforementioned algorithm for a fixed duration according to the selected miner plan, with a designated computing power based on the selected ASIC Miner.
      5. Hashrate Output:
          5.1. The Customer’s selection of an algorithm, selection of a quantity of computational power or hash rate, allocation of computational power, and use of the Services may result in the receipt of cryptocurrencies. The cryptocurrency output from the selected algorithm for the process transaction processing “mining”, is subject to variables according to the default formula for this “effort” of each algorithm specified from the digital asset creator.
      6. VAT waivers are possible only for EU VAT registered entities.

     

    Contract

    Contract Term

    Fee

    Avg. Hashrate

    Antminer L7

    730 days
    1095 days
    1460 days

    24,705$ (VAT is excluded)
    27,850$ (VAT is excluded)
    30,995$ (VAT is excluded)

    9500 MH/s

    Antminer S19J Pro

    730 days
    1095 days
    1460 days

    17,026$ (VAT is excluded)
    19,982$ (VAT is excluded)
    22,939$ (VAT is excluded)

    100 TH/s

    Antminer Z15

    730 days
    1095 days
    1460 days

    9,523$ (VAT is excluded)
    11,108$ (VAT is excluded)
    12,694$ (VAT is excluded)

    420 KSol/s

     

     

    Limitation of Liability

    1. The Service Provider makes no representation on the power provided through the Platform nor does it admit any liability thereof regarding their reliability to act upon for marketing/advertising strategies etc.
    2. Actions with Cryptocurrencies carry inherent risks.
      2.1. Due to the fact that Cryptocurrencies are unregulated and decentralized, their value is not insured by any legal entities. The value of any Contract, any amount of any Cryptocurrency is subject to change by the Service Provider due to a number of factors out of the Service Provider’s control. These factors include but are not limited to changes of mining difficulty and/or other mining parameters/properties, fluctuating price (in fiat currency to Cryptocurrency exchange rate, such as EUR/BTC) of Cryptocurrencies, obsolescence of hardware and amortization of hardware.
      2.2. You understand and agree that the worth of any of the service contracts and any amount of mined Cryptocurrency may lose all worth at any moment of time due to the nature of Cryptocurrencies.
      2.3. You understand that you are solely responsible for the management of the Cryptocurrencies in your balance as well as any losses or charges incurred by any third-party entity.

     

  • Conclusion time of a services contract
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    1. From selecting the “Order With An Obligation To Pay” button.

     

  • Non-Service Provider Expenses and Fees
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        1. Blockchain Transaction Fees
          1. 1. Withdrawals
            1. 1.1.The Service Provider does not charge any withdrawal fees. Any fees charged during withdrawal are subject to the blockchain network transaction fees.
              1.1.2. In order to perform transactions in the blockchain network, the Customer may be subject to processing fees that are not related to the Service Provider in any way.
          2. Third-Party Fees
            2.1.  Certain digital wallets, wallet addresses, tools, and third-party software and devices used by the Customer may charge a fee. The user should be aware of and accept those charges as they are not controlled by the Service Provider.

     

  • Payment methods
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        1. Credit/Debit cards; (Powered by Paypal)
          1. 1. By using cards on our website in order to make purchases, you declare that you have the right to use them.
        2. Bank payment in the following currencies: Euros, U.S Dollars, Swiss Franc.
        3. Paypal. (www.paypal.com)
        4. Coinbase Business (www.coinbase.com)
        5. Coinpayments (www.coinpayments.net) 

     

  • Discounts/Gifts/Promotions
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        1. The Service Provider from time to time may launch various promotional actions such as discounts, gifts etc. These promotions can also be performed on social media or through search sites. 
        2. In any case, the only correct representation of the Service Provider’s pricing is the one provided through this website.

     

  • Right of withdrawal
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        1. You are entitled to withdraw from the services contract within 14 days of its execution.
          1. For the purposes of the exercise of the right of withdrawal the provision of the service shall be deemed to occur once the button  with “Order With An Obligation To Pay” is selected.
        2. At any time before the provision of the service the Customer may exercise the right to withdrawal.
        3. In order to exercise the right of withdrawal, you must notify about your decision to withdraw from this contract with a clear statement addressed via email to the Service Provider.
        4. You can use the attached template of withdrawal form, without this being mandatory.
        5. You can also fill in and submit your template form or any other statement from our website (www.gxblocks.io).
        6. If you use this feature, we will promptly transmit to you on a stable medium (e.g. email) a confirmation of your withdrawal.
        7. In order to comply with the withdrawal period, it is obligatory to send your statement on the exercise of your right of withdrawal, before the withdrawal period expires.
        8. Consequences of the withdrawal
          8.1. If you withdraw from this contract, we will return to you all the money or cryptocurrency received from you without unjustified delay, and anyway within 14 days from your decision to withdraw from this contract in execution of the Service Provision. Any mined cryptocurrency shall remain with the Service Provider.
          8.2. We will execute the above refund using the same payment method you used for the initial transaction, unless you have explicitly agreed to something different and in any case, you will not be charged for such a refund.
             8.2.1. If the payment was made in cryptocurrency, the amount equal to the fee of the plan you purchased will be returned to you. The amount shall be calculated based on the price of the digital asset in the timestamp of the intital transcaction of purchase. 

     

  • Proprietary Content of the Service Provider
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        1. The content of this website (including texts, graphics, images, photographs and software) is intellectual property of the Service Provider.
        2. It is forbidden, totally or partially, to republish and generally reproduce and broadcast the content of the website, store it in a database, broadcast in electronic or mechanical or any other form, in the original or in translation, or in other cover and modification of its form, content and development, without the written permission of the Service Provider.
        3. The appearance of the material on the website, should in no way be understood as a transfer, licencing, or granting the right to use or exploit it.

     

  • Personal Data Protection Policy
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        1. As reflected on the website:
        2. By filling in personal data on this website, you declare that you have the authority by this person ,in order to provide them to the Service Provider.

     

  • Electronic Dispute Resolution
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        1. The Service Provider supports the alternative dispute resolution through the EU extra-judicial Platform: 
          1. 1.https://ec.europa.eu/consumers/odr/main/index.cfm?event=main.home2.show&lng=EL

     

  • Jurisdiction
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        1. For any dispute regarding this contract or matters arising out of it, the courts of Athens, Greece shall have jurisdiction.

     

  • Applicable law
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      1. The laws of Greece.