In a tech nutshell, “cloud mining” is a reliable means of simply accessing computing power from large, remote cloud data centers. These remote centers utilize their own mining hardware (ASIC or GPU) to mine cryptocurrencies like Ethereum, Monero or Bitcoin and individual miners can purchase or rent access.
Among the key benefits of cloud mining is that—even with limited individual computer power, skill and access—cloud mining:
Does not strictly require expertise in the technology or the equipment used to conveniently access the complex mining process
Does not require purchase of prohibitively expensive equipment
Does not require a massive electrical power expenditure.
One of the best options is conveniently renting a certain hashing capacity (typically measured in GHs) which is generally sufficient for most miners. And renting hashing capacity also means that your maintenance and cooling facilities costs remain negligible, and you won’t have to deal with other byproducts of any DIY mining venture.
In fact, the majority of cloud mining companies employ advanced ASIC and GPU mining rigs or create data centers in bulk to be located in ideal environments with much more reasonable costs like India, Philippines and Canada.
For example, IQ Mining is a hot mining service option and is generally considered in the industry to be one of the most the reliable, global cloud mining organizations. This is important because unfortunately there are any number of mining scammers and mining projects that are on the shady side. When selecting your mining service, always look for cloud miners who are solidly backed by established financial firms, or have verifiable proof—in real time—of their data centers. The investment key here is to perform diligent individual research prior to investing any money into your mining service options.
There are many, so do proper research and choose wisely!