Hey Danny after seeing your reply I have a question regarding the altcoins. Are all of them scam ? Can't they be exchanged somewhere for bitcoin or did I miss something from your explanation ? Cloud mining I know and have read here it's a scam.
There has been Ethereum, most rigs built for BTCs moved onto that. They are turning POS at some point in the future, so this will run stale. Another one beeing Monero, which isn't really AMD GPUs focused but more Nvidia.
Regarding scam or not ... if miners gain some revenue by mining that, where is the scam? It's honest bussiness providing computational power for crypto returns.