That and most of the companies lock in you in a 1-2 year contract so you are still forced to pay when it's not even remotely profitable anymore.  CEX.IO for example has a 2 year contract. You are going to be operating at a loss no matter what. Period, you will lose more BTC paying than you mine out. The only reason they can do business is becuase every day a new sucker is born "omg I can make t3h bitcoinz!" and they think they'll be making hundreds a day when in fact they'll be making fractions a day.