The obvious advantage of the cloud mining is that you do not have to worry about expenses for equipment or electricity.
Cons: Contracts can be terminated unilaterally depending on the bitcoin price, lower margins, and hard to control.
There are many types of cloud mining, but the most common way is to rent hash power. Risks and rewards, This digging method may be effective in the first few months, but bitcoin mining is a tough one, and you may start to lose money for 4-6 months or longer. One possible remedy for this situation is to reinvest what you have done to maintain the ratio competitively, but this is highly speculative.