Ponzi's has to get new customers to bring profitabilty to the first customers.
The difference is with cloudmining is that we are buying shares of mining and the BTC are created with the mining hardwares, not with new customers.
But is there actual proof of any mining going on?
TBH i don't care if they mine or they trade for keep his company in profit. What matter is to stay around and make his users profit too.
If we assume they have 50k users (its don't look real for me) and every user did contract for 0.3 btc its 15 000 btc total. If you know how to trade with profit you don't need to mine at all for keep pay.
If they have 1-2k users and don't mine/trade they are on his limit and going to bankrupt soon, but if this is true why they paid 108 btc last week?