Topic: Can cloud miming ever be profitable? (Read 485 times)
I know how to build the GPU rigs. So I will not try the cloud mining. The purpose of cloud mining is to make the operator money.
You can ask yourself: Why are they not mining for themselves. If they have the equipment why rent them? Because renting is more profitable then mining probably.
The Genesis mining charged $1799 for 100 MH/s, but it was not profitable for buyer. After the price rise, they charge $4400. It is still not profitable.
Not worth it. They charge too much in maintainance costs.
Other than cashing out at the right time, it seems like cloud minning doesn't profit too much. Hashnest, which I believe is a legitimate cloud mining service, seems like it is slowly declining, especially with the current state of the S5 miner on there.
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