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.
Cloud mining was never a part of the good old days, it has always been a terrible business. 99% of cloud mining companies were scams and the remaining 1% were not profitable. The only good cloud mining company in my mind was Hashnest because you could trade with hashrates on their website and if you wanted to get out of business, you could sell hashrates on the marketplace within seconds. I've made some profit by buying and selling hashrates on hashnest.
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?
Cloud mining is always a bad idea. You'll either get scammed or never profit.
AFAIK, Genesis Mining isn't accepting any new signups. Only old customers will be able to access their platform. I can't find out about this, because I've never made an account. But maybe someone here who bought mining contracts before can verify this?
I have an account on Genesis-Mining and I can confirm that I successfully logged in to my account. Btw Genesis-Mining was never a profitable cloud mining company but it was legit.