Cloud Mining is a way to mine bitcoin (or different cryptocurrencies) without the need of owning a miner (or mining hardware). Simply said, you buy yourself some shares of mining power – like a mining pool – and profit together with the pool. This means that you only need a contract with someone who offers Cloud Mining Services and a bitcoin wallet.
Cloud Mining services are for you if you want to invest in bitcoin mining without the hassle of managing your own hardware, or, in some cases can’t invest in high priced ASIC mining hardware. You can use the cloud mining to earn your coins.
Cloud mining or cloud hashing is a common concept and What it means is that it uses (in most cases) shared hashing power run from remote data centres which allows users to buy mining power of the hardware placed in. All Bitcoin mining is done in the cloud, without any offline hassle, such as electricity, hosting issues, or installation and upkeep trouble.
Here is a short list of the best Cloud mining providers based on my own experience, read my reviews if you are not already familiar with these names.
Hashflare offers a unique option for mining with a low cost of entry as well as minimal risk and expense, which is opposite to traditional models of mining that involve procurement, maintenance and configuration of highly specialized hardware. Read Full Review
Genesis-Mining is the world’s leading and most transparent hosted hashpower provider for Bitcoin and Altcoins. Reliable & Customer Oriented. Read Full Review
They are heavily investing in the best available hardware to stay at the edge of technology
As cryptocurrency mining gets more and more cost-intensive, GigaWatt project has come up with an innovative solution, WTT tokens, which democratizes the mining process by making it more affordable.
GigaWatt Provides turnkey mining services and custom packages tailored to clients’ needs: full range of mining services from equipment sales, maintenance and repair to private blockchain servicing. Furthermore, Giga Watt’s pricing packages are suitable for technology companies, mining farms, cloud-mining projects, and even individual miners. They came up with a new concept claiming to be even more profitable than the usual cloud mining.