Cloud mining consists of offering remote computing resources hosted in the cloud. All of them prepared to perform mining in the main cryptocurrencies on the market. Thus, people interested in carrying out mining activities in some type of cryptocurrency, proceed to lease these equipment through a contract that is generally for one year. Although there are them with different time intervals, and in this way have access to the necessary computer equipment to be able to dedicate themselves to carrying out their mining activities.
With this modality, people dedicated to cryptocurrency mining are not forced to buy their own computer equipment. Instead, they only rent the equipment that other people already own and that they offer to interested parties through a lease for a specified time in that contract.
This model is certainly very interesting. But it has its pros and cons, and here we will begin to delve into this point a little more.