TERMS & CONDITIONS

These Terms & Conditions ("Terms") govern access to and use of Bitcoinist (the "App") and the website bitcoinist.app (the "Website"), operated by BFM Company Limited (the "Company," "we," "us," "our"), a company registered at RAKDAO, Ras al Khaimah, UAE. The App is available exclusively on iOS via the Apple App Store. By downloading, installing, accessing, or using the App or Website, you agree to these Terms. If you do not agree, do not use the App or Website.

1. DEFINITIONS

• "Apple" means Apple Inc. and its affiliates.
• "BTC" means bitcoin.
• "Diamonds" means the App's in-app virtual currency (also referred to as gems) usable only within the App as described in these Terms.
• "Hashrate" means the rate of SHA-256 hashing work measured in hashes per second, typically expressed in TH/s (terahashes per second).
• "Mining Work" means SHA-256 hashing work performed to search for candidate block headers meeting a target.
• "Public Pool" means the shared mining pool in Public Pool mode (currently Ocean Mining).
• "Private Pool" means a Stratum pool created by a user or joined by a user in Private Pool mode, including pools to which users may connect compatible SHA-256 ASIC hardware where supported.
• "Shares" means partial proofs of work (hashes meeting a share target) submitted to a pool for accounting and telemetry.
• "Sats" means satoshis, where 1 BTC = 100,000,000 satoshis.
• "Stratum" means the mining protocol used for work distribution and share submission.
• "Timechain" means the sequence of proof-of-work blocks referenced by hash pointers.

2. ELIGIBILITY; ACCOUNT; SECURITY

• 2.1 Eligibility. You must be legally permitted to use the App in your jurisdiction and must comply with these Terms and all applicable laws. The App is not intended for children under the age where parental consent is required under applicable law. If parental consent is required in your jurisdiction, you represent that you have obtained such consent or that you meet the age requirements.
• 2.2 Account and access. The App may require account creation or device-based authentication. You are responsible for maintaining the confidentiality of your credentials and for all activity under your account. You agree to provide accurate, current, and complete information and to keep it current.
• 2.3 Security. You must promptly notify us of any suspected unauthorized access to your account or the App by contacting support@bitcoinist.app. We may suspend access as reasonably necessary to protect you, the Company, or other users.
• 2.4 Device security. You are responsible for maintaining the security of your iOS device, Apple ID, and any device-level authentication mechanisms. Loss of device control, including through theft, unauthorized sharing, or compromise, may result in unauthorized actions for which you remain responsible.

3. DESCRIPTION OF THE SERVICE; NO ON-DEVICE MINING

• 3.1 Service overview. The App provides access to off-device SHA-256 ASIC mining hashrate via rentals hosted in a datacenter operated by or on behalf of the Company. The App also may support connecting user-owned SHA-256 ASIC hardware to a Private Pool where supported and subject to compatibility, network, and security requirements.
• 3.2 No on-device proof-of-work. The iPhone does not perform proof-of-work. All Mining Work is performed off-device by datacenter-hosted ASIC hardware and/or user-connected ASIC hardware. Your device serves only as an interface for monitoring, configuration, and management.
• 3.3 What the service is—and is not. The service is the delivery of a defined quantity of Mining Work during a rental period, measured and accounted for via pool telemetry and accepted Shares, subject to the conditions described in these Terms. The service is not:
  • A promise, guarantee, or representation of any particular BTC amount, exchange rate, or fiat-equivalent value;
  • A guarantee of any particular timing of on-chain settlement, block discovery, or pool payout;
  • An investment vehicle, security, or financial product;
  • A guarantee that any block will be discovered by a Private Pool or that any specific outcome will occur.
• 3.4 No investment or advisory services. The App provides technical services related to Mining Work delivery and pool participation. The Company does not provide investment, tax, accounting, legal, or financial advice. Any information presented in the App, Website, or support communications is for operational, educational, and informational purposes only and does not constitute advice of any kind. You should consult your own advisors.

4. MINING WORK DELIVERY COMMITMENT (RENTALS)

• 4.1 Commitment definition. For each rental, the Company commits to deliver a total quantity of hashing work during the rental period: total hashes = hashrate (TH/s) × rental seconds. This is an obligation to deliver a quantity of hashing attempts, not a guarantee of any block discovery or BTC outcome.
• 4.2 Measurement method; source of truth. Delivery is measured using pool-side telemetry and accounting records, including accepted Shares and pool hashrate estimates derived from Share submission rates over time. User interface estimates, projections, and real-time displays are informational only and are not binding. Pool-side accepted Shares and related telemetry maintained by the pool infrastructure are the authoritative records for measurement, reconciliation, and dispute evaluation.
• 4.3 Rounding and estimation. Hashrate and work measurements are computed from discrete events (Share acceptances) and are subject to rounding, time-windowing, statistical estimation, and estimator variance inherent in stochastic proof-of-work processes. Reported values may be delayed, smoothed, or aggregated and may be revised upon reconciliation or correction of data processing errors.
• 4.4 Permitted variance and stochastic nature. Because Share submission is stochastic at the share target and subject to network latency, stale shares, work distribution mechanics, difficulty adjustments, pool-side estimation windows, and other operational factors, instantaneous hashrate measurements can and will vary above and below the nominal rental rate. The Company's obligation is to deliver the total Mining Work commitment over the rental period under the measurement method in Section 4.2, subject to the operational conditions in these Terms.
• 4.5 Routing across equivalent hardware. To satisfy the total Mining Work commitment, the Company may route, allocate, or reallocate hashrate across equivalent SHA-256 ASIC hardware units or clusters, including replacing devices, firmware, configurations, or pool connections, provided the total hashes commitment is met under the measurement method in Section 4.2 and subject to Section 4.6 and Section 4.7.
• 4.6 Maintenance and interruptions. Planned maintenance windows, emergency maintenance, firmware updates, hardware failures, power events, network interruptions, pool connectivity issues, and other operational events may temporarily reduce effective hashrate, interrupt Share submission, or delay telemetry updates. The Company will use commercially reasonable efforts to minimize impact and restore service.
• 4.7 Force majeure and third-party outages. The Company is not responsible for delays, interruptions, or failures caused by events beyond its reasonable control, including but not limited to: failures of third-party pool operators, upstream connectivity or internet service providers, datacenter power or cooling systems, acts of government or regulatory authorities, natural disasters, labor disputes, pandemics, acts of war or terrorism, widespread timechain congestion or technical events affecting the Bitcoin network, or any other cause beyond the Company's reasonable anticipation and control.

5. MODES OF OPERATION

5.1 Public Pool Mode (Currently Ocean Mining)

• (a) Shared pool; third-party operator. In Public Pool mode, rented hashrate contributes Mining Work to an industrial-scale public pool shared with many independent miners (currently Ocean Mining, a third-party pool operator). The public pool operator is a separate entity and is not controlled by the Company. Availability, accounting rules, payout policies, maintenance schedules, and operational decisions of the public pool are external to the Company.
• (b) Deterministic pool accounting based on contributed work. BTC amounts displayed in the App for Public Pool mode represent estimated or actual amounts determined by the public pool's accounting system based on your contributed work (measured via accepted Shares) over time, using a rolling accounting window (e.g., 24 hours or as configured by the pool) and the pool's published accounting rules. Pool accounting is deterministic and based on proof-of-work contribution; it is not random, aleatory, or based on factors outside the hashing work delivered.
• (c) No Diamonds in Public Pool mode. Diamonds are not produced, accrued, or awarded in Public Pool mode. Diamonds are exclusive to Private Pool mode and other specified in-app mechanisms.
• (d) Minimum withdrawal threshold. The minimum withdrawal threshold for Public Pool mode is 7,000 sats. Until your attributed BTC balance (as determined by pool accounting) reaches this threshold, no on-chain withdrawal will be initiated.
• (e) Weekend batch processing cadence. Withdrawals in Public Pool mode are processed on weekends in batch processing runs. Reaching the minimum threshold does not result in immediate on-chain broadcast. Settlement timing depends on the next scheduled weekend processing run, operational batching efficiencies, and timechain conditions. The Company does not guarantee specific processing times or dates within the weekend window.
• (f) On-chain delivery. BTC is sent on-chain to your configured Bitcoin output address as specified in Section 6. Timechain fee conditions (mempool state, fee rates, UTXO consolidation economics) may affect batching behavior, timing, and whether a particular withdrawal is included in a given batch. The Company does not guarantee that every withdrawal request will be processed in the immediately following weekend if conditions do not permit economically rational batching.
• (g) Zero commissions and settlement fees. The Company does not charge commissions, settlement fees, pool fees, or any other fees for Public Pool mode services. Any external fees are timechain transaction fees paid to miners for inclusion and confirmation, which are determined by network conditions and may vary.

5.2 Private Pool Mode

• (a) Private pools; user creation and invitation. Users can create a private Stratum pool or join another user's private pool. Users who create a private pool ("organizers") may invite other users to join their pool. Invitation mechanisms, access controls, and pool configuration are managed through the App where supported.
• (b) User-connected hardware (where supported). Users may connect their own SHA-256 ASIC hardware to contribute hashrate to a Private Pool where supported and documented in the App. This capability is optional and may be limited to specific firmware versions, Stratum protocol variants, network configurations, and security requirements. See Section 19 for additional terms applicable to user-connected hardware.
• (c) Diamonds accrual in Private Pool mode. Diamonds accrue continuously while rented hashrate and/or connected user hardware is actively contributing Mining Work in Private Pool mode, subject to in-App accrual rules, rate limits, telemetry availability, operational constraints, and anti-abuse enforcement. Accrual rates, caps, and eligibility conditions may change and are governed by these Terms and in-App disclosures.
• (d) Settlement initiation on block validation. Private Pool settlement is initiated immediately upon block validation by the Private Pool infrastructure according to the pool's configuration and accounting rules. Initiation means that the pool begins the process of constructing and preparing settlement transactions. Actual on-chain broadcast and confirmation depend on:
  • Coinbase maturity: coinbase outputs become spendable after 100 confirmations (~16-18 hours under typical block intervals);
  • Pool configuration, operational batching policies, and transaction construction;
  • Timechain conditions, including mempool fee environment and confirmation time variability.
• (e) Organizer-configured pool fees (if supported). Private Pool organizers (users) may configure pool fees (a percentage of settlement or a fixed amount) if supported by the App and pool software. These fees are set, collected, and managed by the organizer, not by the Company. The Company collects 0% in settlement fees and does not impose, receive, or benefit from any pool fees. Any organizer-configured fees are disclosed within the App at the time of pool creation or joining.

6. BITCOIN OUTPUT ADDRESS REQUIREMENT; IRREVERSIBILITY

• 6.1 Output address required before settlement. You must enter a valid Bitcoin output address (also called a receiving address or destination address) that you control before any on-chain settlement or withdrawal can be delivered. If no Bitcoin output address is configured in your account settings, no BTC can be sent, and settlement cannot proceed.
• 6.2 Your sole responsibility for address accuracy. You are solely responsible for the accuracy, validity, and ownership of the Bitcoin output address you provide. The App may perform limited format validation (e.g., checksum validation, format detection), but such checks do not guarantee that:
  • The address is correct;
  • You own or control the address;
  • The address is compatible with the intended network (mainnet vs. testnet);
  • The address will remain accessible to you in the future.
• 6.3 Irreversibility of timechain transactions. Timechain transactions are cryptographically immutable and irreversible after broadcast and confirmation. If you provide an incorrect address, an incompatible address format, a typographical error, an address belonging to a third party, or an address for which you have lost the corresponding private keys, BTC sent to that address cannot be recovered, reversed, redirected, or refunded. Once a transaction is confirmed on the timechain, it is final.
• 6.4 Company not responsible for address errors. The Company is not responsible, and will not be liable, for any losses, damages, or inability to access BTC resulting from address errors, including but not limited to:
  • Incorrect addresses entered by you;
  • Copy-paste errors, malware that modifies clipboard contents, or phishing;
  • Use of addresses from unsupported address types or networks;
  • Loss of private keys or seed phrases associated with the address;
  • Use of custodial service addresses where the custodian does not credit your account.
• 6.5 No custody; no holding capability. The App does not include a wallet, does not custody BTC, and cannot "hold" BTC on your behalf pending correction of an address. The Company cannot receive BTC on your behalf. If on-chain settlement is attempted to an invalid or missing address, the transaction may fail at the construction stage, or funds may be irretrievably sent to an uncontrolled address. The Company has no technical capability to reverse such outcomes.
• 6.6 Verification before use. You are strongly advised to verify your Bitcoin output address by:
  • Sending a small test transaction before using the address for larger amounts;
  • Confirming receipt at the address using an independent block explorer;
  • Ensuring you have secure backup of any keys or seed phrases required to access the address;
  • Using only addresses you have generated yourself or obtained from trusted wallet software you control.

7. FEES; COMMISSIONS; TIMECHAIN FEES

• 7.1 Company commissions: Zero percent. The Company charges 0% commissions and collects no settlement fees and no pool fees. This applies to both Public Pool mode and Private Pool mode. The Company's revenue model is based solely on rentals and in-app purchases processed through Apple, not on taking a percentage of Mining Work outcomes or settlement.
• 7.2 External fees: Organizer fees and timechain fees. If fees exist in the system, they may be either or both of the following:
  • (a) Organizer-configured pool fees (Private Pool only). In Private Pool mode, the pool organizer (a user) may configure pool fees where supported. These fees are set by users, not by the Company. Any organizer fees will be disclosed in-App.
  • (b) Timechain transaction fees. Timechain transaction fees (also called miner fees or network fees) are paid to miners for transaction inclusion and confirmation. These fees are determined by mempool conditions, transaction size, desired confirmation priority, and batching efficiencies. Timechain fees vary over time and are external to the Company's control. In Public Pool mode, timechain fees may reduce net settlement amounts or affect batching behavior.
• 7.3 Taxes on Apple purchases. Apple may collect applicable sales tax, value-added tax (VAT), goods and services tax (GST), or other taxes on in-app purchases and subscriptions where required by law. You are responsible for any additional taxes applicable to your use of the App that are not collected by Apple, including any taxes on receipt of BTC where applicable in your jurisdiction.

8. DIAMONDS (IN-APP VIRTUAL CURRENCY)

• 8.1 Nature of Diamonds: Non-cash, in-app only. Diamonds are a non-cash, in-app virtual currency usable only within the App. Diamonds:
  • Have no cash value and are not money, legal tender, or a stored-value instrument;
  • Are not redeemable or exchangeable outside the App for cash, BTC, goods, services, or anything else;
  • Cannot be withdrawn, transferred, gifted, sold, or traded outside the App or to other users except as expressly enabled by in-App features;
  • Do not constitute property, assets, or any form of investment.
• 8.2 Limited license to use Diamonds. You receive a limited, revocable, non-transferable, non-sublicensable, non-exclusive license to use Diamonds only as permitted by the App's functionality and these Terms. The Company retains all ownership and intellectual property rights in Diamonds as a virtual currency system. The Company may modify, suspend, or terminate the Diamonds system, adjust accrual rates, change redemption options, or remove features at any time, subject to applicable law and compliance with Apple's App Store Review Guidelines.
• 8.3 How Diamonds may be obtained. Diamonds may be obtained only through in-App mechanisms described at the time of award. These mechanisms may include:
  • (a) Purchase via Apple In-App Purchase. Diamonds may be purchased using Apple In-App Purchase. Pricing, package sizes, and availability are displayed in the App and may change.
  • (b) Continuous accrual in Private Pool mode. Diamonds accrue continuously over time while rented hashrate and/or connected user hardware is actively contributing Mining Work in Private Pool mode. Accrual is based on time-weighted hashrate activity and is subject to rate limits, eligibility conditions, and anti-abuse controls.
  • (c) Rewarded advertisements. Diamonds may be awarded for watching rewarded video advertisements served by third-party advertising providers. Ad availability, frequency, and reward amounts are subject to provider inventory, geographic restrictions, user eligibility, and rate limits.
  • (d) Educational videos. Diamonds may be awarded for watching educational videos published by the Company. Videos may cover topics such as Bitcoin mechanics, proof-of-work, timechain operation, mining pool economics, security best practices, and App feature tutorials. Rewards are subject to completion verification and anti-abuse controls.
  • (e) In-app actions, missions, tasks, and engagement. Diamonds may be awarded for completing in-app actions such as missions, tasks, tutorials, onboarding steps, daily check-ins, App feature exploration, or other engagement-driven activities as defined in the App. Reward amounts and eligibility are defined in-App and may change.
  • (f) Referrals. Diamonds may be awarded through the referral program described in Section 9. Referral rewards are paid exclusively in Diamonds, not in BTC or any other form.
• 8.4 Availability; rate limits; no guarantee. The availability of Diamonds through any mechanism (ads, videos, tasks, accrual) is not guaranteed and may vary by:
  • Geographic region and local regulations;
  • Device type, OS version, and App version;
  • Third-party provider inventory, policies, and technical availability;
  • User eligibility, account status, and prior activity;
  • Rate limits, daily/weekly caps, and cool-down periods implemented to prevent abuse.

  The Company may rate-limit, throttle, pause, disable, or modify any Diamonds award mechanism at any time, including temporarily or permanently, without prior notice, subject to applicable law and Apple rules.

• 8.5 Adjustments, reversals, and forfeiture. The Company may withhold, reverse, adjust, reduce, remove, or invalidate Diamonds in the following circumstances:
  • Suspected fraud, automation, botting, or scripted activity;
  • Duplicate crediting or technical errors in award processing;
  • Chargebacks, refund abuse, or payment disputes relating to purchased Diamonds;
  • Abuse of referral programs, missions, ads, or other reward mechanisms;
  • Violations of these Terms, Apple's terms, or third-party provider policies;
  • Technical errors, data corruption, or system malfunctions;
  • Account termination for cause or violations;
  • Where required to comply with legal obligations or Apple App Store policies.

  Diamonds may be forfeited entirely upon account termination for cause, subject to applicable law, consumer protection regulations, and Apple's rules regarding virtual currency and in-app purchases.

• 8.6 Uses of Diamonds: In-app only. Diamonds may be used only inside the App for the following purposes, where enabled:
  • (a) Miner rentals and rental extensions. Diamonds may be used to initiate miner rentals or extend active rentals where this payment option is enabled and sufficient Diamonds are available.
  • (b) Swapping miners. Diamonds may be used to swap or change the type of rented miner (if multiple miner models are offered and swapping is supported).
  • (c) Avatars, cosmetics, and in-app items. Diamonds may be used to purchase or unlock avatars, profile cosmetics, visual themes, badges, titles, or other non-functional or cosmetic in-app items where offered.
  • (d) Participation in in-app leaderboards and rankings. Diamonds accrued over time may contribute to leaderboard position or ranking displays (e.g., "Top 100" by Diamonds accrued). Leaderboards are informational, in-app only, and provide no external redemption, cash value, or entitlement to anything outside the App.
• 8.7 Leaderboards are informational; no external value. Leaderboard rankings based on Diamonds, hashrate, or other metrics displayed in the App are for informational, engagement, and community purposes only. Leaderboard position does not entitle you to any cash, BTC, external rewards, legal rights, or claims against the Company. Leaderboards may be reset, recalculated, or discontinued at any time.

9. REFERRAL PROGRAM (DIAMONDS ONLY)

• 9.1 Program terms; Diamonds only. The App includes a referral program that enables users to invite other users to download and use the App. Referral rewards are paid exclusively in Diamonds. No BTC, cash, or other value is provided as a referral reward. Eligibility requirements, reward amounts, reward timing, caps, and other conditions are defined in the App and may change at the Company's discretion.
• 9.2 How referrals work. Referrals may be tracked via shareable referral links, referral codes, or in-app invitation mechanisms. Both the referring user and the referred user may be eligible for Diamonds upon satisfaction of eligibility conditions (e.g., referred user completing registration, first rental, or other milestones as defined). Referral attribution is determined by the App's tracking systems.
• 9.3 Limits and modifications. The Company may impose per-user limits (e.g., maximum referrals per day, week, or total), geographic restrictions, or eligibility requirements (e.g., both users must be in supported countries). The Company may modify reward structures, eliminate the referral program, or change terms at any time.
• 9.4 Anti-abuse; fraud prevention. The Company may withhold, reverse, adjust, or void referral Diamonds for suspected fraud, automation, abuse, or policy violations, including but not limited to:
  • Self-referrals (creating multiple accounts to refer yourself);
  • Creation of fake, bot, or dummy accounts;
  • Automated or scripted referral generation or attribution manipulation;
  • Incentivized installs that violate Apple App Store guidelines or third-party terms;
  • Use of referral farms, click fraud, or incentivized traffic sources;
  • Any attempt to circumvent referral caps, tracking, or eligibility controls.
• 9.5 Investigations and enforcement. The Company may investigate referral activity, request verification or documentation, and suspend or terminate accounts involved in referral abuse. The Company's determination of abuse is final and binding, subject to the dispute resolution provisions in Section 28.
• 9.6 No relationship created. Participation in the referral program does not create any agency, partnership, employment, joint venture, or fiduciary relationship between you and the Company. You are not authorized to make representations or commitments on behalf of the Company.

10. PAYMENTS, SUBSCRIPTIONS, BILLING (APPLE)

• 10.1 Apple as payment processor. All purchases and subscriptions are processed by Apple using Apple In-App Purchase. The Company does not directly process, store, or have access to your payment card details. Your purchase relationship is with Apple and is subject to Apple's Terms of Service, Apple Media Services Terms and Conditions, and Apple's privacy policies.
• 10.2 Subscription tiers and entitlements. The App may offer subscription tiers that provide access to specific features, benefits, or rental entitlements. Subscription details, including tier names, pricing, billing periods, renewal terms, and entitlements, are disclosed in the App and in the App Store listing for the App. Subscription entitlements may include access to certain hashrate tiers, priority support, extended rental durations, or other features as described.
• 10.3 Auto-renewal; cancellation. Where subscriptions are configured as auto-renewing, they will automatically renew at the end of each billing period (monthly, annually, or as specified) unless cancelled by you at least 24 hours before the end of the current period. You can view, manage, and cancel subscriptions through your Apple ID account settings on your device or via the App Store.
• 10.4 Payment timing; charges. Payment for a subscription will be charged to your Apple ID account upon confirmation of purchase. Renewal charges occur automatically within 24 hours prior to the end of the current period for the duration of the subsequent period.
• 10.5 Price changes. Apple may provide notice of subscription price increases in accordance with Apple's policies and applicable law. If your consent is required for a price increase, failure to provide consent may result in non-renewal of the subscription at the new price.
• 10.6 Taxes and receipts. Apple collects applicable taxes where required by law. Apple provides purchase receipts for all transactions. The App may validate receipts with Apple's servers to confirm purchase authenticity and entitlements. You are responsible for retaining your receipts for your records.
• 10.7 Restoring purchases. Where applicable under Apple rules, the App provides a "Restore Purchases" mechanism to restore eligible past purchases or subscriptions on the same Apple ID. Restoration does not apply to consumable purchases where already consumed (e.g., Diamonds already spent) or where prohibited by Apple rules.
• 10.8 Refunds. Refund requests for purchases and subscriptions processed by Apple must be directed to Apple in accordance with Apple's refund policies. The Company cannot issue refunds for Apple-processed transactions. Approved refunds may result in revocation of the purchased content or subscription access.
• 10.9 Chargebacks and refund abuse. The Company may restrict, suspend, or terminate your access to the App, withhold or reverse Diamonds, disable subscription benefits, or take other protective measures if we detect chargebacks, repeated refund requests, refund abuse (e.g., purchasing, using, and refunding repeatedly), or other payment-related misuse, consistent with Apple rules, applicable law, and consumer protection regulations.

11. BITCOIN MECHANICS (TECHNICAL DESCRIPTION)

Bitcoin implements a distributed timestamp server as a chain of hash-based proof-of-work blocks. Each block references the prior block by including the SHA-256 hash of the prior block header in its own header, forming a cryptographically linked time-ordered structure (timechain). A miner constructs a candidate block header containing, among other fields: a reference to the prior block hash, a Merkle root committing to a set of candidate transactions, a timestamp, an encoded difficulty target (a 256-bit number or compact representation thereof), and a nonce field. The miner computes SHA-256(SHA-256(block_header)) (double SHA-256) while varying the nonce and other mutable header fields to search for an output hash numerically less than the current difficulty target.

The difficulty target is adjusted algorithmically as a function of observed block discovery intervals over the prior adjustment period. Adjustments occur approximately every 2016 blocks (approximately two weeks under the target 10-minute average block interval, though actual calendar time varies). The adjustment algorithm increases difficulty (lowers the target) if blocks were found faster than 10 minutes on average during the prior period, and decreases difficulty (raises the target) if blocks were found more slowly. This mechanism stabilizes the expected time between blocks in the presence of hashrate changes.

Transaction fees included in blocks are not protocol-fixed. Fees are determined by transaction creators (senders) bidding for inclusion priority in a limited block space. Fee rates vary with demand for timechain space, mempool congestion, and miner preferences. Higher fees generally result in faster confirmation.

Mining pools distribute work to participants via the Stratum protocol and account for contributed Mining Work by requiring submission of Shares. A Share is a candidate block header hash that meets a pool-defined share difficulty target that is less stringent (higher numerically) than the timechain difficulty target. Most Shares do not meet the timechain target and are not valid blocks; they serve solely as partial proofs of work for pool accounting and telemetry purposes. When a Share also meets the timechain target, it is a valid block and is broadcast to the network.

Pool settlement allocates BTC to participants deterministically based on contributed Shares over an accounting period. Deterministic accounting means that settlement is calculated according to defined mathematical rules based on measured work contribution; it does not depend on random selection, aleatory processes, or unpredictable outcomes external to the work performed. Common accounting methods include Pay-Per-Share (PPS), Pay-Per-Last-N-Shares (PPLNS), and other variants. Pools may use rolling time windows (e.g., 24-hour windows, 8-hour windows) to attribute work and smooth variance. Attribution is based on timestamps of Share submission and accounting window boundaries, not on block discovery timing, ensuring that participants are credited for work performed regardless of short-term variance in block discovery.

12. DATA ACCURACY; ESTIMATES; RECONCILIATION

• 12.1 Informational UI displays. All hashrate displays, accrual projections, earnings estimates, countdown timers, and other real-time or forward-looking information presented in the App's user interface are informational and non-binding estimates. Actual outcomes depend on pool-side telemetry, timechain events, operational factors, and third-party systems.
• 12.2 Source of truth: Pool-side records. The authoritative records for Mining Work delivery, pool accounting, settlement amounts, and dispute evaluation are:
  • Pool-side telemetry and accepted Share records maintained by the pool infrastructure;
  • Timechain transaction records (transaction IDs, confirmations, amounts);
  • Pool accounting statements and settlement transaction logs;
  • Company datacenter and Stratum server logs (where applicable for verification).

  In the event of any discrepancy between in-App UI displays and pool-side records, pool-side records control.

• 12.3 Rolling windows and delayed attribution. Pool accounting may use rolling time windows (e.g., 24-hour windows) and may apply smoothing, delayed attribution, or other statistical techniques to reduce variance and improve fairness. Telemetry updates may be delayed due to network latency, pool processing time, batch update intervals, or third-party data ingestion schedules. The Company may reconcile and update displayed values upon receipt of corrected or updated telemetry.
• 12.4 No guarantee of update timing or completeness. The Company does not guarantee when telemetry will update, when pool accounting will finalize a given interval, when withdrawals will be processed, or when on-chain settlement will be broadcast or confirmed. All timing is subject to operational discretion and third-party dependencies.

13. CUSTOMER SUPPORT; AI ASSISTANCE; ERROR RISK

• 13.1 Support channels. You can contact customer support via:
  • In-app support interface (if available);
  • Email: support@bitcoinist.app;
  • Website contact form (if available).

  For privacy-related requests (access, deletion, correction), contact: privacy@bitcoinist.app.

• 13.2 Response times; no guarantee. The Company will use commercially reasonable efforts to respond to support inquiries, but does not guarantee specific response times, resolution times, or outcomes. Support is provided on a best-efforts basis and is subject to availability, complexity, and resource constraints.
• 13.3 Use of AI systems. To provide customer support, troubleshoot issues, classify inquiries, improve response times, and scale support operations, the Company may use internal tools and third-party artificial intelligence systems, including large language models (LLMs), to assist in drafting or classifying support responses, summarizing tickets, routing inquiries, and analyzing support communications.
• 13.4 LLM limitations and accuracy. LLM-generated outputs may be incomplete, inaccurate, outdated, or may misinterpret context, technical details, or user intent. LLM outputs are not reviewed by a human in all cases and may contain errors. Any AI-assisted response is provided for operational support purposes only and does not constitute technical, legal, tax, financial, or investment advice. If an AI-assisted response conflicts with the App's actual behavior, pool-side records, timechain data, or these Terms, those sources control. The Company is not responsible for errors or misunderstandings arising from AI-assisted support responses. You are encouraged to verify critical information independently and escalate unresolved issues.
• 13.5 Data handling. Support communications are handled in accordance with the Privacy Policy.

14. THIRD-PARTY DEPENDENCIES

• 14.1 Public pool operator (Ocean Mining). Public Pool mode uses a third-party pool operator (currently Ocean Mining). Ocean Mining is a separate entity and is not controlled by, owned by, or affiliated with the Company beyond contractual or technical integration relationships. Availability, uptime, accounting rules, payout schedules, fee structures (if any), maintenance windows, operational decisions, and pool policies are determined by Ocean Mining and are external to the Company. The Company does not guarantee Ocean Mining's availability, performance, or continuous operation. Ocean Mining may change its terms, policies, or accounting methods, and the Company is not responsible for any such changes or their impact on your use of Public Pool mode.
• 14.2 Advertisements and ad providers. Rewarded advertisements are served by third-party advertising networks and providers (e.g., AdColony). Ad availability is not guaranteed and may vary based on:
  • Advertising inventory and demand;
  • Geographic location and local regulations;
  • Device type, OS version, and network connectivity;
  • User demographics and ad targeting criteria;
  • Provider policies, rate limits, and fraud detection.

  The Company does not control ad content, availability, or reward fulfillment (though the Company controls Diamonds issuance). Ad providers may collect data subject to their own privacy policies. The Company is not responsible for ad content, technical issues with ad delivery, or third-party provider decisions.

• 14.3 Apple as platform and payment processor. Apple is the exclusive distribution platform for the App (via the App Store) and the exclusive payment processor for in-app purchases and subscriptions. The Company's ability to operate the App, deliver purchases, and process transactions depends on Apple's infrastructure, policies, and uninterrupted operation. Apple may change App Store policies, reject updates, remove the App, or modify payment processing terms.
• 14.4 Network connectivity and carriers. Your use of the App depends on internet connectivity provided by your internet service provider (ISP) or mobile carrier. Network outages, throttling, data caps, latency, and geographic restrictions are external to the Company's control. The Company is not responsible for connectivity issues or costs associated with data usage.
• 14.5 User-connected hardware dependencies (if applicable). If you connect your own SHA-256 ASIC hardware in Private Pool mode, performance depends on your hardware, firmware, network, power supply, cooling, and local conditions. The Company is not responsible for hardware malfunctions, third-party firmware bugs, local network issues, or configuration errors.

15. SERVICE AVAILABILITY; MAINTENANCE

• 15.1 No guarantee of availability. The Company does not guarantee uninterrupted, error-free, or continuous access to the App, Website, pool services, telemetry, rental services, or any specific feature. Services may be interrupted, degraded, suspended, or terminated at any time due to maintenance, upgrades, capacity constraints, security incidents, or other operational needs.
• 15.2 Planned maintenance. The Company may schedule planned maintenance windows for software updates, hardware replacement, network reconfiguration, security patches, or other operational activities. Where feasible and practical, the Company will provide advance notice of planned maintenance via in-app notifications, the Website, or email. Planned maintenance may result in temporary service interruptions, reduced hashrate, or delayed telemetry.
• 15.3 Emergency maintenance and incidents. Emergency maintenance, security incidents, hardware failures, or other unforeseeable events may require immediate service interruption without advance notice. The Company will use commercially reasonable efforts to restore service as promptly as practicable.
• 15.4 Feature changes; deprecation. The Company may add, modify, suspend, or remove features, modes, miner types, pool options, or other functionality at any time. Deprecated features may be discontinued with or without advance notice, subject to applicable law and Apple policies.

16. COMPLIANCE; GEOGRAPHY; RESTRICTIONS

• 16.1 User responsibility for legal compliance. You are solely responsible for determining whether your use of the App, participation in mining activities, receipt of BTC, and any associated reporting or tax obligations are permitted under the laws and regulations of your jurisdiction. You represent that your use of the App does not violate any applicable law, regulation, or third-party rights.
• 16.2 Supported jurisdictions; geo-restrictions. The App may be available only in certain countries or regions as specified in supported countries policy. The Company may restrict access by geography, device location (GPS or IP-based), network origin, or other criteria. Geo-restrictions may be imposed or modified at any time due to legal, operational, or business reasons. Use of VPNs, proxies, or location-spoofing tools to circumvent geo-restrictions is prohibited.
• 16.3 Sanctions compliance; prohibited persons. You may not use the App if you are:
  • Subject to economic or trade sanctions administered by the United States, European Union, United Kingdom, United Nations, or other applicable authority;
  • Located in, ordinarily resident in, or organized under the laws of a country or territory subject to comprehensive sanctions (e.g., as designated by OFAC or equivalent authorities);
  • Identified on any sanctions list (e.g., OFAC SDN List, EU Consolidated List);
  • Acting on behalf of any such person or entity.

  You represent and warrant that you are not a prohibited person and that your use of the App will not cause the Company to violate applicable sanctions or export control laws.

• 16.4 Monitoring and enforcement. The Company may monitor for prohibited jurisdictions or sanctioned persons using IP address analysis, device location, transaction patterns, or other technical and operational methods. The Company may suspend or terminate access, refuse or reverse transactions, and report activity to authorities where required or permitted by law.

17. NOTIFICATIONS; MARKETING CHOICES

• 17.1 Service notifications. The App may send system notifications related to:
  • Rental start, expiration, or extension;
  • Account security alerts, login attempts, or suspicious activity;
  • Service interruptions, maintenance, or operational updates;
  • Settlement or withdrawal status (where applicable);
  • Policy changes or updates to these Terms.

  Service notifications are essential to the operation of the App and your account security. You cannot fully opt out of service notifications without discontinuing use of the App, though you may control delivery via iOS notification settings.

• 17.2 Marketing and promotional notifications. Where you have provided consent or where permitted by law, the Company may send marketing or promotional notifications or messages, including:
  • New features, product updates, or service announcements;
  • Educational content, blog posts, or tutorials;
  • Special offers, promotions, or events (if any);
  • Surveys or feedback requests.
• 17.3 Opt-out controls. You can opt out of marketing and promotional notifications through:
  • In-app notification preference controls (where available);
  • Email unsubscribe links included in email messages (where applicable);
  • iOS notification settings (Settings > Notifications > Bitcoinist).

  Opting out of marketing notifications does not affect service notifications described in Section 17.1.

• 17.4 Compliance with opt-out. If you opt out of marketing notifications, the Company will honor your opt-out in accordance with applicable law (e.g., CAN-SPAM, GDPR, CCPA). Processing of opt-out requests may take up to 5 business days.

18. ACCEPTABLE USE; ANTI-ABUSE

You agree not to, and not to assist or enable others to:

• (a) Fraud and abuse. Engage in fraud, deception, misrepresentation, automation, botting, scripted interactions, or abuse of any rewards, Diamonds, referrals, leaderboards, telemetry, measurements, or accounting systems;
• (b) Multiple accounts. Create multiple accounts or use accounts belonging to others to exploit awards, circumvent limits, manipulate referrals, or otherwise gain unfair advantage;
• (c) Reverse engineering. Reverse engineer, decompile, disassemble, or attempt to derive source code or protocols of the App, Website, or related systems except to the extent expressly permitted by applicable law and these Terms;
• (d) Scraping and data extraction. Scrape, harvest, extract, or collect data from the App or Website except through documented and permitted interfaces (e.g., publicly available APIs, if any);
• (e) Interference. Interfere with, disrupt, degrade, or disable the functionality of miners, pools, Stratum connections, telemetry, accounting systems, servers, networks, security controls, or other infrastructure;
• (f) Manipulation. Manipulate Diamonds balances, leaderboards, referral attribution, accrual rates, or any in-app accounting or measurement through technical exploitation, bugs, race conditions, or misuse of features;
• (g) Unauthorized access. Gain or attempt to gain unauthorized access to systems, accounts, pools, miners, or administrative functions through hacking, password cracking, social engineering, or other means;
• (h) Malware and attacks. Upload, transmit, distribute, or introduce malware, viruses, worms, trojans, ransomware, denial-of-service attacks, or any harmful code or techniques;
• (i) Policy violations. Violate Apple App Store guidelines, review policies, or terms of service, or violate terms of third-party providers (e.g., ad providers, pool operators);
• (j) Illegal activity. Use the App for any illegal purpose or in violation of any local, state, national, or international law or regulation;
• (k) Misrepresentation. Impersonate any person or entity, misrepresent your affiliation with any person or entity, or misrepresent the source or authenticity of communications.

Enforcement. The Company may investigate suspected violations using technical analysis, log review, pattern detection, external reports, or other methods. Upon detection or reasonable suspicion of a violation, the Company may:

• Suspend or terminate your account and access;
• Withhold, reverse, adjust, or remove Diamonds or other virtual currency;
• Disable features, rentals, or settlement;
• Report activity to Apple, law enforcement, or other authorities as required or permitted by law;
• Pursue legal remedies.

19. USER-CONNECTED HARDWARE (PRIVATE POOL) — ADDITIONAL TERMS

• 19.1 Optional feature; compatibility requirements. Support for user-connected SHA-256 ASIC hardware is an optional feature available only in Private Pool mode and subject to technical compatibility, network requirements, and security constraints. Not all hardware, firmware versions, or Stratum protocol variants may be supported. Compatibility information, where available, is provided in the App or on the Website.
• 19.2 User responsibility: Hardware, firmware, configuration. You are solely responsible for:
  • Acquiring, configuring, maintaining, and securing your hardware;
  • Ensuring firmware is up-to-date, stable, and obtained from legitimate sources;
  • Configuring Stratum endpoints, authentication credentials, and network settings correctly;
  • Providing adequate power, cooling, ventilation, and physical security for your hardware;
  • Compliance with local electrical codes, noise ordinances, and other regulations;
  • Monitoring hardware health, temperature, error rates, and performance.
• 19.3 Security risks. Connecting hardware to a network-accessible pool endpoint exposes your hardware to network-based risks. You are responsible for securing your network, using strong and unique credentials, restricting access to Stratum ports, using firewalls and VPNs where appropriate, and preventing unauthorized access. The Company is not responsible for unauthorized access to your hardware, credential theft, or exploitation of vulnerabilities in your hardware or firmware.
• 19.4 No warranties on user hardware outcomes. The Company makes no warranties regarding the performance, reliability, or outcomes of user-connected hardware. Hardware hashrate, Share acceptance rates, stale share rates, and settlement outcomes depend on your hardware, firmware, network latency, and local conditions, all of which are outside the Company's control.
• 19.5 Higher variance; network effects. User-connected hashrate may experience higher variance due to your network latency, ISP stability, geographic distance from pool servers, stale shares, and work distribution timing. Pool-side accepted Shares are the source of truth for accounting; local miner estimates may differ.
• 19.6 No liability for hardware damage. The Company is not responsible and will not be liable for hardware damage, malfunction, overheating, fire, electrical issues, data loss, or any other harm arising from operation of user-connected hardware, including damage caused by configuration errors, firmware bugs, power surges, cooling failures, or misuse.

20. SUPPORT; INCIDENT HANDLING; EVIDENCE FOR DISPUTES

• 20.1 Evidence required for disputes. For investigation of disputes relating to on-chain settlement, pool accounting, rental delivery, or telemetry accuracy, you may be required to provide relevant details, including but not limited to:
  • Bitcoin output address;
  • Transaction identifiers (txid) from a public block explorer;
  • Timestamps (UTC) of rental periods, settlement events, or alleged discrepancies;
  • Screenshots of in-app displays, emails, or error messages;
  • Device model, iOS version, and App version;
  • Stratum connection logs or telemetry identifiers (if applicable for user-connected hardware);
  • Any other information reasonably necessary to investigate the claim.
• 20.2 Cooperation required. You agree to cooperate with the Company's investigation, respond to reasonable inquiries, and provide requested documentation in a timely manner. Failure to cooperate or provide evidence may result in the Company closing the dispute without resolution in your favor.
• 20.3 No reversal of on-chain transactions. The Company cannot reverse, cancel, redirect, or modify timechain transactions once broadcast and confirmed. If you report an incorrect address after a transaction has been sent, the Company has no technical or legal capability to recover the funds. See Section 6 for your responsibilities regarding Bitcoin output addresses.
• 20.4 Company investigation; final determination. The Company will investigate disputes using pool-side records, telemetry, timechain data, and other available evidence. The Company's determination, based on available evidence and these Terms, is final and binding, subject to the dispute resolution process in Section 28.