Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of mining allows users to mine bitcoins or alternative cryptocurrencies without having to manage their own hardware. A large number of experts in Bitcoin do not recommend mining in general because of how competitive it has become and the fact that effective Bitcoin mining equipment has become very expensive. Also a lot of cloud mining companies are just scams waiting to rip you off. Genesis Mining is one of the legit companies with positive reviews but it is really not worth the investment in my opinion.
- Genesis Mining – This is an easy and safe way to purchase hashpower without having to deal with complex hardware and software setup. Genesis Mining specialises in building the most efficient and reliable mining rigs that they also offer for rent to their clients.