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Cloud Mining

By CoinGecko | Updated on Mar 03, 2020
Mining on blockchains through rented processing power rented from companies that host the physical equipment. These companies typically operate out of countries that are naturally cold (reduce cooling costs) and have cheap power (for more competitive pricings). Another common term to describe this is mining contract.

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Related Terms

Custody
Protective care or guardianship of an asset.
Validator
A block-signing participant of a Proof of Stake blockchain network, whom have significant tokens staked on the network.
Mineable
A cryptocurrency is said to be "mineable" when it has the system thrugh which miners can be rewarded with newly-created cryptocurrencies for creating blocks.
Block Explorer
Application or websites which display information such as status of transactions or data contained in a block of a given public blockchain network.
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