Cloud Mining is the process of coin mining utilizing a remote datacenter with shared processing power.

Cloud (or remote) mining – is the process of using hardware power to mine cryptocurrency (such as Bitcoin or Litecoin) remotely. This mining model came to existence due to the fact that the increasing difficulty of mining has made it unprofitable for mining enthusiasts to mine Bitcoins at home.

Cloud mining gives people a unique opportunity to begin mining cryptocurrency without the need for a large initial investment in hardware or technical knowledge. Despite the simplicity of the cloud mining model, it is worth elaborating on a few details, specifically it’s important to highlight that remote mining comes in two forms: hosted or cloud based mining