Genesis Mining is a company that sells bitcoin mining contracts and is currently one of the largest cloud mining companies in the world and is active in the bitcoin community. Their services allow customers to purchase mining contracts, which allow them to mine Bitcoin and Altcoin through a cloud-based computer network. Their mining farms are based in Iceland, Canada and Bosnia.
What is cloud mining?
Cloud Mining is the process of bitcoin mining utilizing a remote data center with shared processing power. This type of mining allows users to mine bitcoins or alternative cryptocurrencies without having to manage their own hardware. A customer only needs a home computer for communications and optional local bitcoin wallets.