How does cloud mining work?

Cloud computing

Cloud computing is a fast growing trend. Because it offers all kinds of services, such as storage, databases, servers and software. Users can conveniently access these services at any time via the Internet without having to own the corresponding hardware.

Basically, cloud mining works like this: Customers invest money in a company that offers mining hardware. The cloud mining company operates a mining farm with ideal conditions (good cooling, low electricity costs, etc.). Based on the investment, the provider calculates how much hashrate the user generates and pays out the profits regularly.

Cloud Mining Farm

The investment can also be used to maintain equipment, pay for mining costs, and the like. The details often depend on the specific contract that the customer is entering into.

This makes it very easy for investors to get started. In most cases it is a simple online registration with a cloud mining company. After registering, you as a user can choose between the various contracts and specify how much Hash Power you want to buy.

After the service is set up, the main thing is to wait. Mining is a process that takes time and is based on probabilities.

In my blog you will find various providers with whom I have had good experiences and who have certainly received my cloud mining payouts.

Be patient with cloud mining

Unfortunately, some of the best cloud mining providers are not always able to offer cloud mining capacities. new cloud mining capacities are sold quickly and building up new capacities then takes some time. However, it is worthwhile to register with the cloud minig provider anyway. When new capacities are available, all registered people will be notified immediately.