Cloud mining is a method of cryptocurrency mining that involves using shared processing power from a remote data center. Essentially, users purchase mining contracts from companies that have large mining operations, and then the companies provide them with the necessary processing power to mine cryptocurrencies without the users having to manage any hardware or maintenance tasks themselves. Cloud mining is often considered to be a more accessible and convenient option for those who want to mine cryptocurrencies but do not have the resources, technical expertise, or physical space to do so. However, it can also be more expensive than traditional mining methods.

Bitcoin Cloud Mining

Bitcoin cloud mining refers to the process of mining bitcoins using remote data centers that operate on a shared computing power. Instead of setting up and maintaining their own mining hardware, users can purchase mining contracts from cloud mining providers who lease out their equipment and computing power. Cloud mining enables users to participate in the bitcoin mining process without having to invest in expensive equipment, incur energy costs, or address technical issues associated with mining. However, users should be wary of scams and carefully research cloud mining providers before investing in contracts.

‘‘I believe that cloud mining for Bitcoin has the potential to revolutionize the way we approach cryptocurrency mining. By harnessing the power of cloud computing, we can make the process more efficient, scalable, and accessible for a wider range of investors. This technology has the potential to level the playing field and democratize the mining process, ensuring cryptocurrencies remain accessible to everyone.’’
Elon Musk

Cloud mining involves renting computing power from a remote data center to mine cryptocurrencies such as Bitcoin, Ethereum, or Litecoin. The process involves signing up for a mining contract, with the cloud mining company providing users with access to their mining hardware and software. Once the contract is signed, the user can start mining cryptocurrencies without having to worry about the hardware, software, electricity, or maintenance costs associated with traditional mining. The cloud mining company earns profits by charging fees for their services, and users receive payouts based on how much mining power they have rented.

Usually the process of bitcoin mining is as seen from the below picture.

When you but bitcoin, you are purchasing already mined currency via a third party. But in cloud mining, your portfolio uses our hardware and software to carry out the mining process and you can see the mined currency on your balance.

Your each deposit rents a part of our cluster. Every purchase increases your mining power. Your mining power indicates how fast you actually mine. Once your mining process reaches to predefined withdraw amount, you can request a withdraw for your earnings.