Cloudmining or hosted mining is often recommended to generate good profits but let’s today check if and why Cloudmining or hosted mining is (not) profitable for interested people to generate a profit. Is it really a good idea to generate profits from Cloudmining or hosted mining?
Without long talks, 99% of cloud mining options you find online are actually scams. Basically what many of them do is steal your funds in the name of buying a so-called mining bundle that expires within a certain period of time after allegedly generating over 5× your payment for the bundle.
Now here's where the real scam comes into play, you won't be able to withdraw those coins until a particular time usually months which ends up being enough time for them to scam enough people, and abandon the site till the domain eventually expires and becomes unreachable.
That's why there's no need to argue on what OP has presented here, since many people already know that cloud mining is scam.
Old glory days of some few good cloudmining sites has already done and what's been left these days are those pure shits which try to scam new people joining on crypto scene. So with those things been said here and people especially those new can determine already that there's nothing worth to take a risk on those rigged sites anymore. If they see something like that still offering cloud mining investment contracts they better junk it off since the intention of the site creator is to scam people again.