Cloud Mining
Mining● Common
Purchasing mining capacity from a remote data center operator who owns and manages the hardware. User pays upfront or ongoing fees; operator handles hardware, electricity, and maintenance. Historically rife with scams and almost never profitable for customers.
Technical Notes
Red flags: guaranteed returns, unrealistic ROI, no proof of hardware. Legitimate operators: Genesis Mining (historical). Issues: contracts priced when BTC high, difficulty increases eat profits, operator keeps hardware when contracts end. Better alternative: just buy bitcoin.
Metadata
Visibility: Public
Created:1/3/2026by System