RigMining

OneMiners explained

27 terms you will meet on OneMiners and in mining, in plain words. Each one links to the guide that shows it step by step.

Checked on . Prices, fees, rates and timings change, so this page does not list them. See oneminers.com for the current details.

OneMiners terms

Auto Energy

A safety net for electricity. If your Energy & Fees wallet drops below zero, some of your mined coins are converted to USDT to cover the bill, so your miners keep running. The cost comes out of your mining rewards, so keeping the wallet topped up avoids it.

Certificate

A document issued by OneMiners, such as the warranty certificate created when a hosted miner is installed. Each certificate has a number that starts with OM-, and you can check it on the certificate verification page.

Dashboard

The home page of your OneMiners account. It shows your estimated balance, recent earnings, worker status and hash rate, with a menu for orders, wallet, prepaid energy, referrals and settings.

Energy & Fees wallet

The balance, held in USDT, that pays for the electricity on your hosted miners. It can also be used to buy a new miner. Most people exchange some earnings into it so the bill is always covered.

Hosting

Your miner runs in a OneMiners data center instead of at your home. You still own the machine and follow it in your dashboard, and the miner is delivered straight to the hosting site.

KYC (identity verification)

Know Your Customer: a check of who you are that financial services run before they allow some actions. OneMiners says crypto payouts are processed after verification is complete.

Order status

Where your order is. For a Pay Later order it starts as placed, becomes partially paid while you work through the installments, and moves to installed once the miner is set up. You can filter your order history by paid, installed, pending, processing, shipped or cancelled.

Pay Later

A way to split the cost of a miner into four equal installments over four months with no interest. It works only when the miner goes to OneMiners hosting. Late payments can switch your miners off and pause withdrawals, so read the terms shown at checkout.

Pre-order

An order for a miner that is not in stock yet. The Terms say delivery dates are estimates, and that pre-orders are not refundable or cancellable except where the law requires it.

Prepaid Energy

Paying for electricity in advance at a fixed, discounted rate. You choose a plan of 1, 3 or 7 years, and the longer the plan the lower the rate. Rates depend on where the miner is hosted.

Referral code

A code you create and share. When a friend uses it on an order, you earn commission, which shows as pending first and as paid once the referred order is complete. It is different from a discount code or a coupon code, which take money off an order. Only one code works per order.

Unpaid

Mining rewards your miners have already earned that have not been paid out to you yet. It is money OneMiners owes you, not money you owe.

Wallet

The part of your account that holds your balances. Each coin you mine has its own wallet, and you can deposit, withdraw, exchange and see every transaction. Withdrawal fees are shown before you confirm.

Warranty

Cover for manufacturing defects. According to the Terms and the FAQ it is typically 12 months for a miner shipped to you and 7 years for a miner bought from OneMiners and hosted at its locations. Ask for the warranty that applies to your order in writing.

Workers

The Workers page in your account and the app. It shows your miners with their status, health, location and energy fees, and lets you restart a miner, change pool settings and watch temperatures and fan speeds.

Mining terms

Air, hydro and immersion cooling

Three ways to remove a miner’s heat. Air-cooled miners use fans. Hydro-cooled miners pass liquid through a cold plate or loop. Immersion miners sit in a tank of special fluid. A site’s racks, cabinets or tanks are built for one type, so check the type before you pick a model.

ASIC

Application-specific integrated circuit. An ASIC miner is a machine built to do one job, hashing for one algorithm, far more efficiently than a general computer. A miner for one algorithm cannot mine a different one.

Block reward

The new coins a network pays to whoever adds the next block, plus the transaction fees in that block. For Bitcoin the new coins are called the block subsidy, and it is cut in half about every four years.

Difficulty

A setting that keeps blocks arriving at a steady pace. When more hashrate joins the network the difficulty rises, so each miner earns a smaller share. It is one of the main reasons earnings change over time.

Efficiency (J/TH)

How much energy a miner needs for each terahash per second, in joules per terahash. Lower is better. You get it by dividing watts by TH/s.

Firmware

The software that runs inside a miner. Updates can fix faults and change settings. OneMiners says each miner is given the latest firmware on its test bench before it is linked to the customer's dashboard. Only use firmware for your exact model, from the manufacturer or a library you trust.

FPPS and PPLNS

Two ways a mining pool pays you. FPPS pays a steady expected amount for your work whether or not the pool finds a block that day. PPLNS pays only when the pool finds a block, so income swings more and fees are usually lower.

Halving

The scheduled event, about every four years, when the Bitcoin block subsidy is cut in half. It lowers the number of new coins each miner can earn, all else equal.

Hashrate (TH/s, PH/s, EH/s)

How many guesses per second a miner or a network makes. One terahash per second (TH/s) is a trillion hashes a second, 1,000 TH/s is a petahash (PH/s) and 1,000 PH/s is an exahash (EH/s).

Merged mining

Mining two coins that share an algorithm with the same hashing work. Litecoin and Dogecoin are the common example: a Scrypt miner can earn both at once.

Mining pool

A group of miners that combine their hashrate and share the rewards, so earnings arrive in small, regular amounts instead of rare, large ones. Hosted miners are connected to a pool for you.

Uptime

The share of time a miner is online and hashing. A miner that is switched off earns nothing, so uptime directly affects income. Hosting providers usually state a minimum.