Dear Cyberian,

Time-saving version:

The bad

• Hashrate: 65–80% of nominal. Two partner farms in Ethiopia are offline. One is due back on Wednesday, 7 October.
• Hosting: €0.069 → €0.079 per kWh from 1 November.

The good

• OpenMine.io took off. Move machines to OpenMine: $0.069 per kWh, price-locked for at least 180 days.
• Fractions → Everhashes: no hosting bill, ever. Convert before 1 November.
• S21 XP 270 TH/s at auction: starts at $1 on 7 October, no minimum price.

The new

• No more new miners on Cyberian Mine. All sales moved to OpenMine: five providers, hosting from $0.039 per kWh.
• The platform itself stays. It keeps running in 2027 and for as long as one client is left. Every move is voluntary.
• HASHLABS joined OpenMine: hydropower in Brazil, $0.059 per kWh. Miners available.

​Open the OpenMine marketplace​

Longer version:

1. Hashrate: what happened in Ethiopia

CM's hashrate delivery is the lowest it has ever been: 65–80% of nominal, depending on the day, the interval you look at and the platform. You can follow it day by day: the legacy CM platform statistics and CM delivery report on OpenMine.

The reason is Ethiopia. Two farms we host with there, AmityAge and BWP, have been switched off for a long time. The national power company sharply raised its electricity prices, and the dispute that followed turned into a scandal and litigation that drew in everyone from the Slovak embassy to Ethiopia's energy ministry. In the end the higher prices simply stayed.

The good news: on 4 October we were told that AmityAge will most likely be back online on Wednesday, 7 October or a day later. That will not bring us to 100%, but it will close a large part of the gap.

The shortfall is shared by all Cyberian Mine clients; on the old platform it runs deeper than on OpenMine. And you pay hosting only for hashrate that was delivered, so a day at 70% costs 70%.

2. Hosting price: €0.079 per kWh from 1 November

Ethiopia was one of our cheapest locations. Its low price let us average out the more expensive ones, such as the USA and Finland, and keep your price below what we pay ourselves in some of them. With Ethiopia at the new prices, that cushion is gone.

So from 1 November 2026 the hosting price on the Cyberian Mine platform goes from €0.069 to €0.079 per kWh, for all miners. Because our machines are spread across several countries, this is a much smaller step than the one in Ethiopia itself. It is still a real hit, and I would rather you did not take it. Sections 3 and 4 are about how to avoid it.

3. Pay less than today: move your machines to OpenMine (optional)

This year we built something bigger than Cyberian Mine: OpenMine (openmine.io), an open marketplace where several hosting providers list their machines side by side. Cyberian Mine is now just one of the providers there.

It works the way you know: a lifetime warranty and automatic failover on every machine, hosting charged daily and only for delivered hashrate, bitcoin paid by the pool straight to your wallet. One of the big upgrades is that we no longer depend on F2Pool: the hashrate is distributed by our own Stratum Router, so you can pick the mining pool yourself.

Why move:

• Lower hosting. $0.069 per kWh, about €0.061 at today's exchange rate. That is less than you pay now, and far less than €0.079.
• Price protection. After the move your rate is locked for 180 days, and any later change is capped at 10% per update.
• Freedom to pick your pool. On the old platform every miner mines through F2Pool. On OpenMine you point your hashrate at any compatible pool, and you can switch later.
• Delivery you can check. Hashrate is measured by OpenMine's own router and published for every provider.
• More ways out. You can resell a machine at a fixed price or in an auction, to buyers who come for all providers.

How it works:

• In your Cyberian Mine account there is a new button: "Move to Open Mine". It shows the calculation for your machines and explains how to create your OpenMine account.

• You tick the boxes and confirm. We receive your request with all the details and do the rest.
• The move is free.
• Your balance can move with the machines; it is converted into US dollars automatically.
• We move whole machines only, not fractions (see below)
• It is one-way: a machine that has moved cannot come back.

When staying makes more sense:

• Old miners. A machine that is switched off pays a storage fee: €0.20 a day here, $0.50 a day on OpenMine. An older miner that spends part of the year switched off, or that you simply want to keep, is cheaper to leave here.
• A balance that earns the hosting bonus. The bonus exists only on the old platform; OpenMine has none.
• A sale in the near future. Selling a machine costs 5% on OpenMine, against 1% on the old marketplace.

The move is your choice: the Cyberian Mine platform keeps running, see section 5.

4. Fractional miners: you can move them to Everminer

Fractions cannot go to OpenMine, so they get their own way out. At the top of your account there is a new button: "Move fractions to everminer.io".

It converts your fractional miners into Everhashes on Everminer (everminer.io), our platform for mining prepaid for life. One Everhash is 1 TH/s with no hosting bill, ever.

It is optional and entirely voluntary. If you do nothing, your fractions keep mining here as before, at the new price from 1 November.

How it is calculated: we take what your fractions earn today after hosting, at the current €0.069, today's network difficulty and Bitcoin price, and give you the number of Everhashes that mine exactly the same amount.

Why before 1 November: from that day the calculation uses €0.079, so the same fractions convert into noticeably fewer Everhashes. After the price increase the conversion is much less beneficial.

What you gain: the price increase never reaches you, and the position can never slip into the red, because there is no hosting bill that could outgrow what it mines. What still moves: the bitcoin mined per Everhash follows network difficulty, like any miner, and its value follows the Bitcoin price.

The conversion is one-way. You can sell your Everhashes on Everminer's market at any time.

5. No more new miners on Cyberian Mine. The platform stays

After eight years we have stopped adding new miners to the Cyberian Mine store. From now on every machine we offer is listed on OpenMine, next to the machines of the other providers.

The platform itself is not going anywhere. It will keep running in 2027 and beyond, for exactly as long as at least one client is left on it. Nothing changes for the miners you already own: they keep running under the same lifetime warranty and automatic failover, and you can still sell them on the internal Marketplace or with Instant Sell.

So every move described in this letter is voluntary. We recommend it, but for some of you staying makes more sense: section 3 lists the cases.

6. OpenMine: Introducing Hashlabs

Five vetted providers today: Cyberian Mine, Everminer, ValueHash, Hashlabs and NMine. Firsthand Bitcoin with facilities in Argentina is being onboarded next week.

One of them deserves a paragraph of its own. Last week we onboarded Hashlabs. They have been hosting miners since 2021, and in Brazil they run their own capacity at hydropower plants, on stranded energy: power that is produced where nobody else can use it. For a miner that is about the best power there is, clean and cheap. Their S21 XPs on OpenMine are hosted at $0.059 per kWh. A partner of this calibre choosing our platform is a big deal for us, and I am proud to have them.

The rest of the picture:

• Farms around the world: Finland, the USA (Texas, New York, Kansas, Nebraska), Brazil, Paraguay, Argentina, Ethiopia, Nigeria and the UAE.
• Each provider sets its own prices. Hosting runs from $0.039 to $0.072 per kWh, and the lowest rates come from providers with farms in places like Nigeria and Brazil.
• A low rate is half of the story. The other half is Hashrate delivery, so every provider's delivered hashrate is measured by our router and published. Look at it before you choose.
• One account, one balance: spread your machines across providers, countries and price levels, and pick your own mix of risk and return.

About 40 machines are listed today, installed and ready to start.

​Browse the marketplace​

Your Cyberian Mine login does not work on OpenMine. It is a separate account; you can create it with the same email.

7. An S21 XP for $1? Come and bid

On Wednesday, 7 October we put one Antminer S21 XP 270 TH/s up for auction on OpenMine. Bidding starts at $1, and there is no minimum price: the highest bid wins, even if it is $1.

If you would rather not wait, you can buy the machine right away for $3,200.

The machine is installed and running at Cyberian Mine, with the lifetime warranty and automatic failover, at $0.069 per kWh. For scale: the last S21 XP auction on OpenMine closed at $1,103.

​Browse the marketplace​

Any questions?

Reply to this email, ask in our Telegram Community Group or submit a Support Ticket on the platform. We are here to help.

​
Warm regards and happy mining!

Max Matrenitski
CEO of Cyberian Mine GmbH / Everminer LLC