Lifestyle Galaxy continues its work to do the best by its members and in this announcement we are providing you with updates to the following points:
- Extension of Mining Term & Miner Profitability
- Sales of Mining Equipment on our members behalf
- Requesting Physical Mining Hardware to be sent to your home address
- No Purchases of new mining equipment
- No Financial Claims, Guarantees and Mining Recommendations
- Legal compliance
Extension of Mining Term & Miner Profitability:
Lifestyle Galaxy suffered, experienced considerable loss of revenue and faced many difficulties through the issues with Gigawatt in early 2019 but has extended the mining term and continues work on behalf of its members.
Even though our competition Bitmain Hashnest and Genesis Mining stopped S9 mining in 2018, miners who purchased their computer mining hardware from Lifestyle Galaxy still have the choice to operate their equipment so long as it’s in the terms of the three year mining agreement as stated within the mining certificate.
Lifestyle Galaxy decided to extend the 3 year mining term by an additional 4 months.
This means that every 36 month mining term now counts as a total of 40 months from the time of the original purchase of your computer mining hardware.
For additional information about miner profitability, please see the “S9 Mining Profitability” announcement here: https://lifestylegalaxyupdates.com/s9-mining-profitability/
We will not issue new mining certificates but will honour the full 40 months in all cases applicable, as stated above.
Sales of Mining Equipment on our members behalf:
We have been working on behalf of our members to sell S9 equipment for them.
At the time of purchase, members were never promised that we would assist them in any way with the future sale of their mining equipment, however today we are attempting to do this for members who request it, on a best effort basis.
This has been a very difficult process because both new and used equipment in China has gone down in value dramatically since China made mining illegal. This has also affected many mining companies that offered hosting of miners to the public. Lifestyle Galaxy mining continues.
To request for us to attempt to sell your mining hardware on your behalf on a best effort basis, create a support ticket through your member’s back office and support will send you the appropriate request form.
There is no guarantee that we will be able to sell some or all of your equipment but we are working diligently to do the best for our members.
Requesting Physical Mining Hardware to be sent to your home address:
As stated within the terms of your mining certificate, you own your computer mining hardware and may have it shipped to your home address.
You own all of the mining equipment within a 3 year contract. After 3 years the mining of that equipment will no longer continue. The 3 year/36 month term was extended to 40 months. Your product purchase was Computer Mining Hardware.
Shipping and Handling Fees will apply. Lifestyle Galaxy will not make any money on the shipment of equipment. We will charge the rate of the shipper.
To request for your mining equipment to be shipped to your verified home address, anywhere in the world, create a support ticket through your member’s back office and support will send you the appropriate request form.
No Purchases of new mining equipment:
As we stated in a previous update, see Purchases of New Mining Equipment https://lifestylegalaxyupdates.com/purchases-of-new-mining-equipment
Today we find it very ironic that some manufacturers continue to state their miners are out of stock for months and pre-orders are only available on a very limited quantity of units to make it fair for everyone, yet we also see companies who have amazingly received 10,000 new units! We wonder how this was possible if a maximum quantity available was extremely limited to keep things fair for everyone? We believe that even the purchasing of the mining equipment from certain manufacturers has become much more difficult than it once was as the industry continues to consolidate. Some people feel this is squeezing out smaller but honest and dedicated mining operations.
We discontinued the sale of new mining equipment long ago. That has not changed because, even though it hurt us financially, it protected the best interests of our clients.
No Financial Claims, Guarantees and Mining Recommendations:
At no time has Lifestyle Galaxy ever made any financial claims or guarantees, nor did the company advise, in any way, how to structure your mining operation, including but not limited to repurchase percentages or which coins in what amounts to mine. This is known to our International team of attorneys.
Our operations have maintained the highest ethical standards and we have never abandoned our members, but we cannot run at a loss. Ironically, every so often someone claims that we are making a lot of money on our members mining operations, nothing could be further from the truth. As a matter of fact, we have spent more than we have received at one point subsidising the mining activity of our members. We have bent over backwards and operated at a loss in the past.
We are still here and will continue to serve our members through our support platform. For any individuals who persist in making false public defamatory statements please note that we are vigorously defending ourselves against these types of attacks. Defamation is a criminal offence and we have an International network of attorneys.
Many other mining operations shut down years ago but we continue to stand the test of time. We are honourable stewards of our company, who have always worked in the interest of our members.