Are people still renting cloud computing Power to mine Bitcoin? A brother from another mother told me this and I said its impossible because I knew they are not profitable anymore, I might be wrong, who knows? That's why I need to ask fellow bitcoiners on this forum.. Is this still possible today? Where not even 20TH is no more profitable, or people are doing it illegally? Because the way he hyped this I am having a second thoughts maybe its illegal.
I think topics related to this has been discussed several times on this forum,
Like you said, not only is this no longer profitable, but also scammers have hijacked this type of mining Bitcoin, if you search through Google, you will probably see majority of cloud mining platforms that are still online where people can rent computing powers to mine bitcoin, but I tell you that 99.9 percent of them all are nothing but scam, so I personally would advice you to avoid this at all cost.
Better to use that money you would have spent on rent and buy Bitcoin and hold, better Than dashing it to scammers.
in the present era of cloud mining, it is obvious that a fishing net will catch the big fish who are tempted by the profits of a fictional mining and sites like this are repeatedly blocked and reappear under different names, as you say 99,9% cloud mining is a scam and myself was a victim of cloud mining in the early days of bitcoin and cryptocurrencies