Cloud mining is a method of producing cryptocurrency by renting processing resources from a service provider (cloud mining service provider). To become a member of a mining farm, the miner needs to purchase a certain amount of “hash power” from the service provider.
Cloud mining is a type of cryptocurrency mining using rented cloud computing power. It doesn't require cost-intensive mining hardware and software to get started. Instead, it allows you to earn income from leased mining hardware or hash power located in a miner's facility.