Benefits of remote hosted mining are tight control over the mining process, maintenance support and subsequent ownership of the hardware. The big drawbacks are risks associated with the procurement of expensive hardware and the very high cost of entry, both in terms of investment and technical experience. More accessible model of remote mining is Cloud mining, whereby a miner purchases a part of the mining power of hardware hosted and owned by a Cloud mining services provider. The service provider takes on configuring the hardware, maintaining uptime and selecting the most efficient and reliable pools. This option provides a range of benefits: instant connection (meaning no hardware shipment wait times and delivery risks), fixed maintenance and electricity fees and no nuisances associated with mining at home such as noise, heat or space. Another key point is that this model of cloud mining requires no technical experience. Obviously, it’s very important that miners understand the mining process, however this model doesn’t require hardware expertise or significant configuration / implementation cost. Since customers can purchase any amount of mining power they wish, this means that the level of investment will depend only on the miners’ ambition. This means that the cost of entry and subsequent risk is far lower than in comparison with the remotely hosted model.

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