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What Is A Cloud Mining Contract, and What Are The Benefits of It?

What Is A Cloud Mining Contract, and What Are The Benefits of It?

​What is a cloud mining contract? It may be hard for novice miners to understand it, so let’s take building a website as an example. Before it, everyone had to buy a server, similar to computer hardware, in the computer room. However, maintenance by personnel is required, called an operation and maintenance engineer. If the machine breaks down, the website won't go up. Later, everyone bought cloud services directly, and the operation and maintenance services were directly provided by large companies. The server you bought is a virtual server, but is there no machine behind it? That's impossible. All parts of the hardware server, hard disk, memory, CPU, bandwidth, etc. cannot be missing. It's just that cloud services directly allocate it to you. This is the concept of "cloud".


The same is true for the cloud mining contract. What is a cloud mining contract? The cloud mining contract packs all the hardware (computing power machine, storage machine), electricity, GAS, operation and maintenance fees, and other costs and sells them to small investors in equal shares, so that small investors do not need to buy expensive servers or use them. Understand the complex mining principles to participate in mining, and there is no need to find a suitable electricity price and site. It eliminates the cumbersome steps of mining farms, server settings, system construction, and so on, which greatly reduces the time cost of investors. , Let professional people do professional things.


What is a cloud mining contract? The cloud mining provider also has several major benefits.

  • One is that it can reduce investment risks. Once an uncontrollable factor occurs when a computing power cluster is built up to hundreds of millions, it will lose a lot;
  • The second is that it can make idle machines generate value. Generally speaking, Computer equipment has been in a state of depreciation from the time it is bought, especially the idle machine, if you let the machine work, you can create value;
  • Third, you can earn some management and maintenance fees.

What is a cloud mining contract? In summary, in the end, small investors and computing power providers can achieve a win-win situation.