How does cloud mining work?

#3) ECOS. ECOS is the only legit cloud mining company . It was established in 2017 in Armenia in the Free Economic Zone. ECOS has more than 100 000 users from all over the world.16 Mar 2022

Cloud mining operations are mining farms — data centers dedicated to mining — that sell or lease hashing power to cryptocurrency miners . The essence of the service is that a third-party hosts mining equipment and provides access to the rewards associated with the equipment.

If you are wondering whether bitcoin mining is legal, the answer is yes in most cases .

Well, let’s find out how profitable it is for cloud mining. With a $5,000 cloud mining contract, you could make $600 within one month (and it is literally just checking your stats for a couple of minutes every day). So your total profit from using a one-year cloud mining contract could amount to $7,200 in Bitcoin.14 Oca 2022