FAQs

FAQs

Registered in Iceland, Geysir Mining Solutions is a multi-cultural team specializing in supplying the most sought after ASIC Mining hardware for cryptocurrency mining, ranging from Bitcoin, Ethereum, Zcash, Litecoin and Dogecoin to other less well known coins such as Kadena, Handshake and Dash.

Our China warehouse proximity to most major manufacturers allows us to optimize our international logistical costs saving you both time and money.

Within the past 3 years, we have become the leading supplier of mining hardware and cryptocurrency related products in Iceland & Europe.

During this time we have established a strong working relationship and a high level of support from the major ASIC mining hardware manufacturers such as Bitmain, Goldshell, Innosilicon, MicroBT, Canaan, IBelink and more.

GMS team is committed to providing exceptional first line support and high standard of customer service as well as dedicated to providing the best cryptocurrency mining equipment available on the market.

Our customer base ranges from avid enthusiasts setting up their very first mining rig to experienced miners adding the latest releases to their existing mining farms and we greatly appreciate the opportunity to work with each and every customer.

It is our goal to ensure you have access to the mining hardware you need while minimizing transit times, eliminating risk, and reducing costs and offering pre-sale and after-sale support via mail.

Although some of our operations are handled from Iceand, all of our miners are stored in and shipped directly from our Hong Kong shipping facility.

Please note, when orders are placed for Iceland, upon arrival our team will clear customs and the units will be delivered to our storage facility before diversion via courier to customers address. 

We have established a strong working relationship with the manufacturers, which allows us to provide one of the most competitive prices on the market.

As we supply new as well as used miners, the prices of our products can range from as little as £1,999.99 to as high as £44,499.99* (prices subject to change).

As a standard rule, the price of an ASIC miner depends on the unit’s profitability and performance, therefore the higher performance and profitability, the higher the price 

The cryptocurrencies which you can mine are dependent on the algorithm which the ASIC miner supports. Our most popular miners mine – Bitcoin, Ethereum, Litecoin, Zcash, Dash, Kadena, Decred, Siacoin, however some of the advanced miners can mine as many as 8 other coins.

For example: ASIC miners that support the SHA-256 algorithm can be used for Bitcoin mining and ASIC miners that support the Ethash algorithm can be used for mining Ethereum. Please note, ASIC miners can only mine the cryptocurrencies on that algorithm specifically and can not be re-programmed to mine other coins.
You can see each miners mining abilities in the products specification under Mineable coins.

We are not able to deduct VAT from our prices and Invoices.
Please note, sales VAT is provided for orders to the Iceland only, outside of the Iceland sales VAT is zero rated by default.

As all of our units are stored in and shipped from Hong Kong, when orders are placed for Iceland, they will first need to be imported to Iceland, cleared customs and shipped to our storage facility, before diverting it via a courier to the customer’s address.


Customers who are based outside of Iceland, (upon receipt of the unit) are liable to cover their own import taxes, whereas for Iceland customers we are dealing with this on their behalf and handle all import-related fees and taxes. Therefore our advertised Iceland unit costs include all extra fees.

Although some of our operations are handled from Iceland, all of our miners are stored in our Hong Kong shipping facility. Therefore, unfortunately, at this moment it is not possible to collect and pay for orders in person. 

Due to the high demand of ASIC miners, we ask our customers to pay for their order and provide a copy of their payment receipt within 24 hours of placing the order.

 

Please note, we are not able to reserve any units for our customers until the payment for the order has been received.

Although we prefer to receive payments in full, as long as the full amount is sent within 48hrs and you’ve added your order details to all parts of your transfers, we do allow for payment to be sent in parts. Due to the high demand of ASIC miners, we ask our customers to provide proof of payment within 24 hours of placing the order.

Once an order has been paid for, please send us a copy of of your wire transfer or crypto payment proof to: payments@geysirminingsoltions.com

Although not all miners have Certificates of Conformity, we do have them for most of our miners. Please send us an email and we will either issue you with a certificate or we will provide you with a link for a download from the manufacturers website. 

The profitability of each miner (per day) can be checked here 

 

Unfortunately, we can’t accept payment for units that aren’t listed as available for pre-order on our website. 

 

For an update on the release of all miners, please sign up for our newsletter

ASIC miners are built for longevity. Therefore, most miners will continue to be usable for years to come and provide profitability in the foreseeable future. Please take into consideration the profitability of ASIC miners is impacted by a number of things including: the mineable coins value, the power consumption and hashrate.

Although we take cryptocurrency payments to our Coinbase Commerce wallet, you do not specifically need a Coinbase account to make payment for your order in cryptocurrency. At checkout you can make payment from any account / company in which you hold your cryptocurrency.

Unfortunately, all of our orders must be placed directly through our online store.

If you know you would like to place an order with us, please open any of our pages on our website 

Once you’ve logged in and/or created your account, head to the product page of the miner you would like to order.
 and add the unit to your cart and follow through to checkout.

Please note, if you place an order without logging into your account first, your orders will not be linked to your customer profile and you won’t be able to view all previous orders in one account. You will still be able to access details of previous orders, but you will need to check each order separately.

Unfortunately, we do not buy back miners or purchase any ASIC miners from our customers or the open market. 

Please note, any shipping or delivery dates provided are estimates only, we are not responsible for any delay from the courier companies or manufacturers. This includes and is not limited to the expected release date of any new miners or any couriers transit being spot checked by border control.

As per standard, we aim to arrange dispatch for all in-stock units within 7 working days of receiving full payment for the order.

Yes. Unless your order is to be shipped to Iceland, upon receipt of the unit you will be liable to cover the relevant import fees.

We ship our products worldwide, however, as there a handful of countries where customs clearance can be slightly more difficult than the rest, we ask that our customers double check that they are able to handle the customs clearance in their country before placing an order with us.

If you have already checked your local customs and import rules and guidance and you are still unsure, please send us a quick message and we will do our best to assist.

If your order consists of several units and they are of different make, release batch or if they are used:

They will be shipped separately and in line with our standard processing and shipping times. As soon as each part is dispatched, a tracking number will be added to your order page. This will continue until all units are dispatched, and then your order status will change to Fulfilled.


If your order consists of several units and they are of the same make and batch:
On rare occasions parcels can be transited in other pallets and Shipping company can take a bit of extra time to arrange it on board. We advise our customers to contact the relevant shipping company at first instance to speed up the process of clearance and schedule delivery for the rest of the parcels in the shipment.

From 2023 all customers shipping goods to Europe/EEA require to provide a TIN (Taxpayer Identification Number).

TINs are also useful for identifying taxpayers who invest in other EU countries and are more reliable than other identifiers such as name and address.

All ASIC miners sold by Geysir Mining Solutions (if provided by the manufacturer) come with their original, only Chinese power outlet cables. As these cables are not fit for use in the rest of the world, sometimes, for safety measures, the manufacturer will not include their Chinese power outlets with the miner when shipping outside of China.

Power cables suitable for European, UK, American or any other type of power sockets can be easily purchased online or at most electronics stores.


Below you can see which power supply cable is necessary for each type of ASIC miner:

 

C13 16-20amp Power Cable:

1) Bitmain

2) Innosilicon

3) IBeLink (BM-S1, BM-N1, BM-K1)

 

C19 16-20amp Power Cable:

1) Canaan

2) Goldshell (apart from Goldshell Mini-Box miners which need C13 power cables)

3) IBeLink (BM-N3, BM-K3)

4) Whatsminer

5) StrongU