Cryptocurrency mining comes with its own sets of drawbacks. This includes the higher electricity costs at certain places, eating up the miner’s profit. The second concern is the decapitating heat from the mining rig, resulting in a huge decline in the overall efficiency.
This is where cloud mining comes to save the day. Companies offering cloud mining solutions set up their dedicated crypto mining outlets in locations with cheaper electricity costs and relatively colder climatic conditions. This induces passive cooling, without the need for a dedicated cooling solution. Companies then rent out hash powers to remove clients in the form of ‘mining contracts.’
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