What is Cloud Mining?

Cloud mining is the process of mining cryptocurrency through the use of a third-party provider by purchasing a cloud mining contract. It doesn't require owning the associated hardware. You typically purchase a fixed amount of cloud computing power (measured in hashes per second) for a set period of time and receive the associated mining rewards associated with your contract. You can also lease the mining rigs themselves — usually application specific integrated circuit (ASIC) miners — which can give you more flexibility but generally includes setup and maintenance fees.