What is Cloud Mining and Is It a Good Business?

What is Cloud Mining

With the price of a single Bitcoin recently spiking near $20,000, cryptocurrency miners are facing even more intense competition to mine coins. Investors wanting in on the mining game are getting creative with ideas both malicious and benign. Honorable, would-be miners who are new to the game are considering cloud mining services, which eliminate the need to own expensive mining hardware. But is cloud mining for Bitcoin and other cryptocurrencies a safe or good business? What Is Bitcoin Mining? Traditional Bitcoin mining is a competition between powerful computers on a peer…

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