Anyone remember when cloud mining was actually a thing? You just needed to buy a contract and enjoyed those block rewards without all that hardware mess. Most services were a total scam, but the idea... it was solid. Now, only a few real ones like NiceHash and Genesis Mining still stand.
Is cloud mining still a viable option in 2025?
20 replies 246 views
But hold up, NiceHash and Mining Rig Rentals are more of a marketplace than actual cloud mining services. I heard NiceHash's reputation took a hit with some sketchy policies like higher withdrawal limits and stricter ID checks. Just seems sketchy to me.
Yeah, but some newbies swear Oneminers is where it’s at. Like I said, don’t throw stones at me if it flops.
You know, the issue with cloud mining is that all the risk falls on the user. The companies just rake in the cash and force upgrades or block contracts when things go south. Just saying, Oneminers might be a scam too.
Totally agree. With the market down, maybe a bit of Bitcoin mining is smart. But honestly, cloud mining feels like gambling now. Back in the day, prices just went up without the term "Spread money" looming over us. Better to just stack crypto instead.
Right? The good old days made it easier. Now prices for BTC and altcoins are so high that it wrecks cloud mining profitability. Even if it’s legit (which I doubt), the prices are just insane.
seed_ninjaNewbie
Posts: 204 · Reputation: 1
#7Jun 28, 2018, 07:28 PM
It’s always been a scam fest. People love easy cash, but cloud mining? It’s not sustainable. History shows us that no companies from back then survived.
What’s the big difference anyway? Whether it’s mining remotely or through a contract, you’re still in the same boat. Trust someone to handle your miners instead, but good luck with that.
The difference is where the hashrate comes from. Cloud mining has a single source; however, the marketplace uses a mix. Plus, marketplaces give you options for mining pools and more control.
Kinda tired of telling miners how companies profit more than us. I have lower electricity costs and no fancy setups, yet they still pull in crazy income.
Didn’t Genesis Mining shut down? I feel like the only reason I’d use NiceHash is for testing out new coins. But mining right now for BTC isn’t worth it.
Skip the cloud mining. Just go with ASIC hosting instead.
WildMatrixNewbie
Posts: 111 · Reputation: 22
#13Jun 30, 2018, 06:17 AM
Yeah, and back then was more legit. Now, it’s all a breeding ground for scams. If you want to mine properly, just build your rig and know what you’re getting into.
But who’s really gonna fund your bitcoin purchases? Mining feels more like a standard business now. Profit margins are just gonna stabilize.
I heard Genesis isn’t taking new signups anymore. Only their old clients can still use them. Anyone else can confirm? Cloud mining just doesn’t seem worth it now.
SwiftMatrixNewbie
Posts: 79 · Reputation: 23
#16Jun 30, 2018, 12:05 PM
Once they stop taking new clients, it’s a sign of the times. Most cloud mining services aren’t making a profit, just more scams popping up.
It’s complex but cloud mining might still have its place... kinda. Providers could be legit, but their fees are a killer. Usually, holding crypto direct is just way better.
cryptodiamondSenior Member
Posts: 37 · Reputation: 1982
#18Jun 30, 2018, 07:09 PM
If you must mine, stick to Bitcoin, LTC, or Doge. Trust me, I went for the wrong coins in 2018 and missed out on big BTC gains.
Look, people are still making money with Nicehash, but I’m skeptical how they profit when BTC is so volatile. Haven’t seen it work out well.
Cloud mining is just trash. Most places out there are scams or don’t produce any profit.