I think if the right people are running a cloud mining service yes it can potentially be profitable. GHX seems like a great company who have goals and ambition to be here for the long haul. I think a lot of peoples problem in crypto is understanding the difference between a get rich quick train that has long passed and the definition of a long term investment. If you see fast ROI, huge referral bonuses, guaranteed profit, no kind of proof what so ever about their mining, these are and should be HUGE red flags. Business can not operate very well with continued high payouts, and gargantuan referral bonuses it is just not possible. Nor can you pay 100% interest on a Bitcoin deposit when bitcoin and no other markets are moving 100% up every single day. Use some common sense when getting into these. I can not believe how many people fell for those daily profit sites. I mean seriously did you not ask yourself where they were generating the money? how were they getting it. Did you not look at the markets and clearly see a steady downward trend in BTC, LTC and DOGE I mean that alone should tell you something, then digging even deeper yet you can see no where that a possible 100% to 125% profit can be made even with multiple markets day trading.
Another problem I see is instead of the crypto community really getting angered at these scams they are more so just accepting the problems. I cant even count how many times I see "well i got my ROI so for me this place is good" well guess what, its an investment, hitting your roi does not make it a good investment, getting what you paid for while hitting your ROI makes it a good investment. If you paid for 5 years of a service then you should get 5 years worth of income. settling for anything less is why we see and will continue to see all these scam sites pop up and shut down.
In the real world when you invest in a business you should never expect to see a true ROI in less than 2 years. So, to be honest an 8 month to 12 month ROI is still better than anything the business world outside of crypto can really offer you. If you see a sweet 2 week or 100% daily return on your investment, or a guaranteed this or guaranteed that, FORGET IT, move on, This is crypto, no one can GUARANTEE you anything, and if they say they can they are flat faced lying to you or forking out a massive amount of cash from their pocket just to keep the ponzi going long enough so they can their ROI on the site you just got baited and hooked into.
Just be careful guys, do some research, try your best to talk to the owners of the site, because as business owners they should be well aware that in real world you will not I repeat YOU WILL NOT get one red cent of an investment from anyone, without meeting your investors in some kind of one on one personal meeting of some sort. SO if they are to shy or to busy to even address you , then they are to shy and to busy for your money, because a business like that means you will just be another number in a database, they dont care about you, your investment, or if you will make money or not, all they care about is getting that next database ID with a value in the deposited amount.