If cloud mining were so profitable these companies wouldn’t have to hedge their bets and existence on selling hash power to the public for a staple income and have to deal with the volatile asset they are mining or proving the user with!
I’m not saying it cannot be profitable for someone who takes out a cloud mining contract users just need to do their research before diving in! In a bear market it could be worth it due to low competition and potential that your stakes value improves in the next run
It could also just be as profitable to spend that contract money on buying BTC directly and just hodl
As for securing the network I’m glad these companies are helping I’m just not a fan of large centralized mining operations
RE: You can still mine Bitcoin at a profit. (The Secret?)