Well... Here's the thing: why do you think people would set up ASIC miners in the cloud so you could make a profit? Why would they share their money with you if they had to do all the purchasing, maintaining,...
The answer to that question is: >99% of all cloudmining companys are scams, the <1% that's legit sells you 100% of their risk for a very small part of their profit... It's not a good deal either way IMHO. They (the <1% legit ones) just make you pay for everything and if they turn a profit you get a small share, but if the BTC price floors, the diff jumps up, their hardware breaks, their electricity rates jump up, you still pay for all those factors and get nothing in return.
In reality: if your electricity rate is to high to mine yourself, or if you don't have a suitable mining room or if you don't know how to setup an ASIC, i'd just recommend you not to mine. But that's just my personal opinion.
The answer to that question is: >99% of all cloudmining companys are scams, the <1% that's legit sells you 100% of their risk for a very small part of their profit... It's not a good deal either way IMHO. They (the <1% legit ones) just make you pay for everything and if they turn a profit you get a small share, but if the BTC price floors, the diff jumps up, their hardware breaks, their electricity rates jump up, you still pay for all those factors and get nothing in return.
In reality: if your electricity rate is to high to mine yourself, or if you don't have a suitable mining room or if you don't know how to setup an ASIC, i'd just recommend you not to mine. But that's just my personal opinion.
yes, there are many new cloud mining companies are created everyday, to take money from us, i don't think they actually set up miners and hardware to mine, they just invest our money in risky investments or trade with peoples money, and we just see fake money generated in our app or website and when withdrawing, withdrawal never arrived.
i see many advertisments of cloud mining sites like "Cloud mining TRX with 50%/month", and after searching there review on trustpilot there are all 1star red reviews been seen,
a tip to people who want to start cloud mining, if you want interest then you can go to big companies which we stake our crypto for interest (no a financial advice)
and in my view most of the cloud minin sites are fraud or make you interest from gambling or taking high risk on your money.
do not fall victim as such websites are operated by scammers, there is no way to mine Bitcoin using cloud mining, if you want to mine bitcoin you have to buy a asic miner with the sha256 algorithm, these miners are pretty cheap this days, there is no real cloud mining out there. 
