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.
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?
Anyways, it seems to me that cloud mining is a losing game. Especially with the rising cost of electricity worldwide. Maintenance fees will be a huge burden when purchasing a mining contract. Maybe cloud staking is a better choice?
Base on their notice they are only available to their existing clients and not accepting any new plan since February 21 see the full details here
https://genesis-mining.com/Cloud mining is out on the picture if you mean profitable option to invest that's why many of those good mining platform before close down their service its because they didn't get much profit on their operation. Also lots of scam are spreading that's why its never advisable for anyone to invest on this platforms because since provably they will just lost their money there.
I don't explore that cloud staking and maybe will look on further details about it then see if its really profitable or just see it as another scam.