This is the main reason,  they already lost their credibility. That’s why people don’t invest in them anymore. And as we all see, there have been a lot of cloud mining scams out there, so why would we still take the risk?

Besides, the returns aren’t even that big. And if you do see one promising high returns, it’s most likely a scam -  you know, the classic “too good to be true” kind. So instead of cloud mining, it’s better to keep it simple: just HODL. Or if you want steady earnings, consider lending your Bitcoin instead.