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Cloud mining is the process of cryptocurrency mining utilizing a remote data center with shared processing power.[1]
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.[2] Since cloud mining is provided as a service, there is generally some cost and this can result in lower returns for the miner.
^David Lee Kuo Chuen (2015). Handbook of Digital Currency: Bitcoin, Innovation, Financial Instruments, and Big Data. Academic Press. ISBN 9780128023518.
^"About Bitcoin Cloud Mining". Cloud Mining Report. Archived from the original on 2 January 2018. Retrieved 2 January 2018.
Cloudmining is the process of cryptocurrency mining utilizing a remote data center with shared processing power. This type of cloudmining enables users...
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