Cloud mining allows anyone to mine for cryptocurrency on a proof-of-work (PoW) blockchain from anywhere in the world using the electricity, hardware, and other resources of a third-party provider. Users rent processing power from a shared data center to mine cryptocurrency. This process of renting equipment and power results in a more democratized form of mining, where individuals are able to afford mining without the need of allocating significant capital expenses to do so. Cloud mining plans usually consist of purchasing hashing power at rates dependent on the amount of power purchased as measured in Gigahash/seconds (GH/s) blocks.
How does cloud mining work?
At Blockbase we are committed to providing the best cloud mining services for all of our customers. Blockbase cloud mining utilizes the services of our data centers located in Sweden and built with the utmost security and efficiency in mind, allowing mining profits to be maximized for all cloud mining customers. Cloud mining customers can choose the mining package that best fits their needs, and decide which cryptocurrency they would like to mine, giving each customer full control over their cloud mining.
Blockbase cloud mining gives you the opportunity to mine cryptocurrency without needing to set-up your own mining equipment or software, or investing significant capital in hardware equipment. Cloud mining is the easiest, cheapest way to start making a profit mining your favorite cryptocurrencies. With just a simple monthly contract to cover electricity, hosting, and other fees, you will be on your way!