1. Introduction: This document sets forth the Terms and Conditions for the mining pool partnership between Iris Energy and NRG Bloom. By participating in the NRG mining pool, NRG Bloom agrees to adhere to the terms outlined herein.
2. Scope and Control:
NRG Bloom acknowledges that control over the operational matters of the NRG mining pool shall primarily be based on its computing power. NRG Bloom as a company will have the right to participate in decision-making processes and strategic planning discussions related to their computational arrangements towards the NRG mining pool.
3. Responsibilities and Rights:
NRG Bloom agrees to provide regular reports on the performance of its computational resources within the mining pool. Iris Energy shall ensure transparency in profit distribution, taking into account the negotiated computing power contributed by NRG Bloom. Any disputes arising from the partnership shall be resolved through mutual discussions and negotiations.
4. Profit Generation:
Profits generated by the NRG mining pool shall be distributed based on the proportionate computing power contributed by NRG Bloom. Returns shall be calculated using a predetermined methodology and distributed on a daily basis, as agreed upon by both parties with the sole aim of acquiring Mining Machines for NRG Bloom's project.
5. Support and Maintenance:
Iris Energy agrees to solely provide technical support and Maintenance service for the highlighted data center infrastructure[Iris Childress mining facility] provided to source NRG mining pool. NRG Bloom agrees to promptly report issues or defects to Iris Energy and willingly co‐operate towards resolving them.
6. Repayable Debts or Equity Stakes:
While the primary basis of the partnership is computing power, NRG Bloom and Iris Energy shall engage in discussions regarding the potential for repayable debts or equity stakes with voting rights during NRG Blooms participation in the mining pool. Any alternative arrangements shall be mutually agreed upon in writing.
7. Termination and Amendments:
Either party may initiate the termination of the partnership by providing written notice to the other party. Amendments to these Terms and Conditions may be proposed by either party, and any changes shall be agreed upon in writing by both parties. A notice period of [14 Day's] shall be observed for termination or amendments to take effect.
8. Governing Law and Jurisdiction:
These Terms and Conditions shall be governed by and construed in accordance with the laws of NASDAQ [National Association Of Securities Dealers Automated Quatations] Any disputes arising from the partnership shall be subject to the exclusive jurisdiction in accordance with Laws of NASDAQ.
