Cloud Mining

Cloud Mining

Cloud Mining is the process of mining Bitcoin, or other cryptocurrencies in a cloud, i.e. via remotely located mining equipment. It is a fairly popular business practice for a cryptocurrency mining company to set up a large mining farm, but instead of using it to mine bitcoins for itself, that company rents small fractions of its mining power to its customers via online contracts. That way, the cloud mining company's clients are able to participate in small-scale mining without the associated costs of purchasing mining hardware and setting up and maintaining the infrastructure.

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