I have gotten 3 different devices and I still get that static. I only get it when I connect the HDMI from the xbox to the capture card. If I unplug the HDMI the screen turns black but no static once I plug it back in I get all the static again. I have tried calling and troubleshooting with EVGA and they don't know either. Im looking into getting my money back and trying a different capture card.

Yeah that did not work for me. I tried this method before and still got the same static. It seems like it is the HDMI from the console to the capture card. If you disconnect the HDMI from the capture card the screen is black but your console is still on and the static goes away. As soon as I connect the HDMI from the console to the capture card and the picture comes back, that annoying buzzing sound comes back on. I can't find a solution I have dug very deep the past 4 months. I even contacted EVGA and they have no clue what it is either. It seems as though a lot of people are having this same issue and can't find a solution. 
 
Something else to note. When you plug in your headset and controller directly to the capture card your VOLUME on the headset goes down to 75%. There is for sure some more things EVGA has to do to perfect this capture card. 
 
For now I am going to ask for my money back because I couldn't figure it out after 4 months 3 capture cards later. If you do find another solution please post on here.
 
What I am doing to game at the moment and stream.
I plugged my headset to the controller ( instead of the capture card )
this eliminates the buzzing sound to my headset and also I get 100% volume.
I connected a usb mic so my stream can hear me.
however my viewers can still hear the buzzing sound which is annoying to them. Im doing this until EVGA returns my emails and I can get my money back to purchase a different capture card.

Follow-up pt 3... I returned the XR1 today and bought a device that was twice the price. No static, and it looks like color grading on the capture signal is better.. so... yeah... sorry EVGA.

I found what it was.
 
So the static was coming from my HDMI. I went a reset all my video settings on my monitor and my XBOX. It turns out my monitor only supports up to 1440 but I had the setting on 4K. therefore the HDMI was trying to kick back 4K onto the capture card which gave it a ground loop noise. I switched the setting to 1440 and the static noise went away.