2-of-2 multisig doesn't achieve trustless cloud mining. While it's true it prevent them (the cloud mining company) from stealing your Bitcoin, but it brings another problem such as,
1. User refuse to sign transaction because they feel cheated (e.g. non-transparent operational cost report)
2. They (the cloud mining company) could deceive user by saying they need to pay operational cost, when they actually slowly perform exit scam
3. They refuse to sign transaction because user violate their ridiculous ToS