Remember the good-old days? The days where you could purchase a cloud mining contract and receive a share of the block reward without the need to set up hardware or software? I mean, most services were scams back then, but the concept/idea was great. At the time of this writing, only a few legitimate services remain. I'm talking about NiceHash, Genesis Mining, and Mining Rig Rentals.
I wonder if cloud mining is still worth it in 2025? The market is somewhat-bearish, so now might be a good time to mine BTC and a few PoW altcoins. Don't you think?
I thought Genesis Mining has closed down for business? I can still remember the time when they announced via their mail and RSS feed that they couldn't keep up with the PNL any longer? Even Nicehash hash power renting service is no more profitable.
The only reason I can still rent for hash power on Nicehash is if a new interest altcoin comes out and I don't have the right equipment to mine the coin, but trying to make profit through Bitcoin and others now are not profitable.
Even those Asic miners like S21 takes the majority of the profits to settle electricity bill, what is left is your profit which is not encouraging for cloud like or hash rental services.