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So you guys were right: it is a valid ERC20 token, but they own the entire supply, and it sounds like they don't have plans to allow you to even withdraw it to your own wallet. There's no market force that could give it value.
As a rule of thumb, cloud mining is ALWAYS a scam. If there would be real legit cloud mining, it would be so unprofitable to buy from a third party that no one would be interested.
There has been so many of these cloud mining scams and even icos that i lost count long time ago. But they come in waves, when enough new people don't know about them and old timers forgot to warn the new ones, they will score some new "investors" again.