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Cloud Mining is the process of bitcoin mining

Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware. The mining rigs are housed and maintained in a facility owned by mining company and the customer simply needs to register and purchase mining contracts or shares. Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner.  wikipedia
 

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