Globally, cloud mining of cryptocurrencies is no different from usual. It also uses computer technology (ASIC farms), which calculates new blocks of the crypto network, for which a reward is awarded.
- The key difference is that each user is not using their own hardware. Instead, he leases the power of a large company whose equipment mines the crypt, and the tenant receives a commission for this.
- That is, the miner is only required to buy power according to the tariff. The company providing cryptocurrency mining services is responsible for everything itself: purchases equipment, configures all equipment, maintains equipment, pays for electricity. The only thing that remains to be done for an ordinary user is choosing the optimal tariff plan.