I tried cloud mining first with Genesis Mining, then I started to run my own rigs.
Cloud mining through Genesis Mining is generally profitable as long as the coin values do not dip too much. You will generally recover your costs in about a year if you are using the fixed length contracts (the last time I calculated which was a few months back).
You can take a look at the contracts and do the maths yourself based on the contracted hash rate and the expected returns (do be slightly more pessimistic due to increasing difficulty) and $0 electricity cost.
HTH.
Topic: What is mining in the cloud? (Read 116 times)
Recently I was referred from my email to an app in the internet. It is a mining application that operates in the cloud. What is the meaning of that? Can anyone help me please...not so technical to understand better. Thank you.
Cloud mining is not a good way to mine. You pay a data center for hash power. Some are scams, some are legit but none are profitable.
Recently I was referred from my email to an app in the internet. It is a mining application that operates in the cloud. What is the meaning of that? Can anyone help me please...not so technical to understand better. Thank you.
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