ASIC Supplier Due Diligence: UK Buyer Checklist

ASIC supplier due diligence tests whether the business taking payment is genuine, authorised, able to supply the offered hardware and accountable under workable terms. It is separate from checking the miner specification. A UK buyer should verify the legal entity, people, domain, bank or wallet instruction, stock evidence, warranty, logistics, sanctions exposure and independent history before a material payment.

Identify the contracting party

Reassess ASIC supplier due diligence whenever network conditions, firmware, tariffs or official guidance changes.

Obtain the full legal name, registration number, registered and trading address, VAT number where claimed, directors or authorised representative and official contact routes. Search the relevant registry directly.

Compare incorporation date, filing status, accounts and stated activity with the offer. A newly formed entity is not automatically fraudulent, but it has less operating history and may justify stronger payment protection.

Confirm that the trading name and domain belong to the entity. Fraudsters copy company numbers, invoices and website text from real businesses. Contact the company using a channel found independently rather than the number inside an unexpected message.

For overseas entities, use the official local registry and obtain advice where documents or enforcement are unclear.

Check the people, domain and communications

When reviewing ASIC supplier due diligence, separate measured facts from forecasts so the result can be reproduced.

Review domain age and ownership indicators cautiously, corporate email configuration, published phone numbers and consistent staff identities. A free mailbox for a substantial order needs explanation.

Search exact phone numbers, email addresses, beneficiary names and copied phrases. Treat social-media followers and review totals as weak signals unless individual transactions can be verified.

Ask a technical question that requires knowledge of the exact model, condition and cooling version. Generic answers can reveal that an intermediary has not confirmed stock.

Keep communications in a controlled business system. Disappearing messages and private staff accounts make later reconciliation difficult.

Verify stock and title

Request dated photographs or video showing the specific quantity, model labels and serials, with a challenge chosen by the buyer. For used machines, request live local and pool performance plus condition disclosure.

Evidence can still be fabricated, so combine it with site or warehouse verification, a trusted inspection agent, manufacturer channel checks or staged payment where the order justifies the cost.

Ask whether the seller owns the goods, acts as agent or will procure them after payment. Check for finance, liens, customs holds or third-party title claims where relevant.

Record substitutions policy. A different hashrate bin, cooling system or PSU can make the product unusable even when the series name looks similar.

Reconcile invoice and payment

A payment to a different person or country is not automatically fraudulent, but it creates a serious verification requirement. Do not accept an explanation only from the channel that requested the change.

Verify bank-detail changes through a known person and published number. Use dual approval and record the confirmation. For cryptoasset payment, check network, address, amount and contract treatment because recovery may be impossible.

Avoid artificial urgency. Stock and market prices move, but a legitimate commercial process can still support independent checks.

Read warranty and delivery obligations

Identify the party responsible for defects, the warranty start date, covered parts, exclusions, return authorisation, repair location, shipping risk and remedy. A link to a manufacturer page does not necessarily create a seller obligation.

Confirm new, used or refurbished status in the contract. Record whether manufacturer seals, third-party firmware or previous repairs affect coverage.

Use precise delivery responsibilities. State who books freight, clears customs, pays duty and VAT, insures the goods and carries risk at each point. Incoterms should be named with version and place where used.

Inspect promptly and follow the agreed damage and fault process. Delayed evidence can weaken a legitimate claim even where legal rights remain.

Compliance and reputation checks

Screen the entity and relevant owners against applicable sanctions lists and internal policy. Consider export controls, restricted destinations and the hardware’s route, particularly in cross-border transactions.

Review litigation, insolvency, regulator warnings, unresolved complaints and consistent after-sales evidence. Distinguish a documented dispute from an anonymous accusation.

Check privacy and data handling where identity documents are requested. Do not send passports or company records through an unverified chat account.

For a material order, use legal, tax, customs and insurance advisers appropriate to the route. Due diligence is proportionate, not identical for every £500 and £500,000 purchase.

Approval and monitoring record

• Save registry and domain checks with dates and sources.
• Record beneficial owner, authorised contact and independent call-back route.
• Attach stock, serial, condition and test evidence.
• Reconcile contract, invoice, beneficiary, tax and delivery terms.
• Complete sanctions, customs, insurance and warranty review.
• State payment protection, approval threshold and residual risks.
• Recheck details immediately before release of funds.
• Review performance after delivery before increasing exposure.

Frequently asked questions

Does a Companies House record prove a supplier is genuine?

No. It verifies a registered record, not that the person contacting you controls the company or owns the offered stock.

How can stock photographs be verified?

Use buyer-chosen dated challenges, serials, live tests and, for material orders, independent physical inspection or trusted channel checks.

Should I pay a different company from the invoice seller?

Pause and obtain a documented legal explanation plus independent verification. The mismatch creates fraud, tax and enforcement risk.

Is cryptoasset payment unsafe?

It can be legitimate but is difficult to reverse. Verify contract, network, destination and authority with dual approval.

What if bank details change?

Treat the request as high risk and call a known verified contact using a number obtained independently.

How often should a supplier be reviewed?

Refresh before material orders and when ownership, bank, domain, location, terms or performance changes.

Conclusion

ASIC supplier due diligence is strongest when no single signal carries the decision. Reconcile registry, people, domain, stock, contract, payment and delivery evidence, then record the residual risk and approval. A company number or convincing photograph can be copied; independent contact, matched payment and specific performance evidence are harder to fake together. Recheck the beneficiary, authorised contact and delivery position immediately before payment because a genuine earlier review cannot detect a later account compromise or last-minute substitution.

Next steps

Use The Mining Shop UK verification and policy pages as a benchmark for the evidence a specialist ASIC supplier should make available.