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Insurance For The Bitcoin Mining Industry

The bitcoin mining industry is in its infancy but is maturing rapidly. For bitcoin mining to be mature and to be recognized as such, it needs to be backed by insurance and well thought out risk management practices.


When fire, natural disaster or theft destroy the physical assets of your business and disrupt your ability to operate, you want one thing: to get back to business. Our job is to help you do that.

Insurance is complicated but our team of professionals is comprised of bitcoiners who understand the risks of bitcoin mining and can help protect you with the most comprehensive coverage and the least amount of risk.

Who needs insurance?

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  • Owners of mining facilities.
  • Owners of mobile mining equipment.
  • Co-location owners or users.
  • Mining hosts or users of hosted facilities.
  • Secured and unsecured lenders.
  • Small miners, operating from their homes.

Coverage includes physical loss or damage to:

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  • Owned or leased warehouses, permanent facilities or mobile facilities, including modified shipping containers.
  • Equipment, such as Antminer S19, Goldshell HS5, Whatsminer M30S, etc.
  • Cooling (including liquid immersion) and ventilation systems.

Additional coverage and risk mitigation solutions to consider:

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  • General liability - accidents can and will happen. Every day your company is exposed to liability from your operations, products or employees.
  • Directors and officers liability - if you are a publicly traded miner, protect your directors and officers, especially in light of recent SEC activity and the presidential executive order encouraging development of a regulatory framework allowing innovation while reducing negative climate impacts.
  • Business interruption - partially replace lost mining rewards (in dollars) in the event miners are destroyed by certain defined events. We are co-developing a bespoke bitcoin mining business interruption policy which should be available end of summer 2022.
  • Customized solutions - our team of professionals partner with you to understand your specific needs and will design a creative solution that aligns your risk appetite and capabilities with your goals. For example, self-insurance or a captive insurance program are great alternatives to consider.

Insurance doesn't have to be complicated. We'll help you get the right protection at the right price, with the service you deserve.

novation

About Novation.

We are bitcoiners who are also insurance professionals, and we want to help you succeed in your mining business. We are headquartered in north Houston and have a special focus on Texas bitcoin miners, but we can go anywhere you need to go. Together we can build out the entire bitcoin mining ecosystem!

Jeff Crenshaw

Risk Management Novation

P 832-991-8531

E jcrenshaw@novationllc.com

Hylant logo

About Hylant

Hylant is one of the largest privately held insurance brokerages in the United States. Founded in 1935, we offer complete risk management services, employee benefits brokerage and consultation, and insurance solutions for businesses and individuals locally, nationally and internationally.

Tanja Maffei Chan

SVP Risk Management Team Leader

P 773-519-1279

E tanja.maffei@hylant.com

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