Cloud mining
Cryptocurrency mining using a remote data center / From Wikipedia, the free encyclopedia
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Cloud mining is the process of cryptocurrency mining utilizing a remote data center with shared processing power.[1] Cloud mining has been used by ransomware groups and scammers to launder cryptocurrency.[2]
This article possibly contains original research. (October 2014) |
This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware. The mining rigs are housed and maintained in a facility owned by mining company and the customer simply needs to register and purchase mining contracts or shares.[3] Since cloud mining is provided as a service, there is generally some cost and this can result in lower returns for the miner.