Cloud mining is the practice of cryptocurrency mining in which individuals leverage the services of a third-party provider. Instead of owning the necessary hardware, users opt to purchase a cloud mining contract. Typically, these contracts provide users with a predetermined amount of cloud computing power, measured in hashes per second, for a specific duration. In return, users receive the mining rewards as specified in the contract. Additionally, it is possible to lease the mining rigs directly, usually consisting of application-specific integrated circuit (ASIC) miners. This alternative grants users more flexibility but often comes with additional costs for setup and maintenance.