Insurance Replacement and Payout

Replacement is unit-for-unit, there are no cash payouts. For each covered unit lost, you receive one replacement unit of the same or equivalent model and specifications, less your proportional share of the deductible. You are not entitled to cash, multiple units, or credit for any difference in value.

Coverage Value limits your recovery. If the current replacement cost of a unit is lower than its Coverage Value, you still receive one replacement unit. If the current replacement cost is higher than the Coverage Value, your recovery is capped at the Coverage Value. Simple Mining applies the carrier's payment toward the best equivalent unit that payment funds. You may pay the difference out of pocket to obtain a specific model; Simple Mining has no obligation to fund the gap.

Simple Mining cannot guarantee specific models. If the original model is unavailable, you will receive the "next best equivalent unit," defined as a unit of comparable manufacturer-rated hashrate and energy efficiency (J/TH), of the same or a successor generation, based on available inventory at the time of replacement.

The carrier decides what gets paid. If the carrier approves only partial coverage, you receive replacement equipment proportional to that determination. Simple Mining does not supplement beyond what the carrier pays.

Replacement timing: Simple Mining will use commercially reasonable efforts to procure and deploy replacement equipment after receiving carrier payment. Timing depends on equipment availability, supplier conditions, and carrier processing. This may take weeks or longer. No specific timeframe is guaranteed.

Replacement units are automatically covered. A replacement unit becomes Covered Equipment upon deployment and is enrolled for the remainder of the Policy Term at its Replacement Value as of the deployment date. Your Premium Pass-Through and Administrative Fee do not change.