Cloud mining is the process of using remote servers to mine cryptocurrencies. Cloud miners do not need to purchase or maintain expensive mining hardware or software.

Today, cloud mining is a popular concept being used widely by many people in the crypto world. Mining is the process of confirming a cryptocurrency transaction, such as Bitcoin, by solving a complex mathematical equation. A cryptocurrency mining setup requires exorbitant tools and equipment. The mathematic equations require a great deal of computation power, so massive amounts of power are used. A mining rig is extremely expensive due to the use of electricity for machines and air conditioners, the installation cost of the machinery, and other tools.

Cloud mining is the process of utilizing a remote data center with special equipment so as to rent processing time on a computer for mining digital currencies. This process is about using the power of the data center and its own computing power for mining so as to lower processing costs and shorten waiting times.