Insurance Program Enrollment Requirements

The rule: If you enroll, you must enroll all eligible mining equipment you own across all Simple Mining facilities, without exception. You cannot select individual units, models, or locations while excluding others. Units that are powered down, offline, idle, or out for repair are still required to be included.

Why: The master insurance policy covers Simple Mining's facilities holistically. The all-or-none requirement ensures the insured value reported to the carrier is accurate and complete.

Adding equipment mid-term: New units deployed to a Simple Mining facility are automatically enrolled at their Replacement Value. Carrier approval is not required. Coverage begins on the deployment date, and the month it starts is billed in full, no proration. Your Administrative Fee tier is also recalculated upward if the new total Coverage Value crosses a tier threshold.

Selling or retiring equipment: Coverage on that unit ends at the point of sale or retirement, but your Premium Pass-Through and Administrative Fee do not decrease, they remain fixed for the full Policy Term. The buyer does not inherit coverage and must enroll separately.

If you have further questions, please contact our team at support@simplemining.io