Mobile mining and cloud mining scams
"Mine bitcoin on your phone" or "rent a mining machine for daily income": most of these are either ad-driven fakes or Ponzi schemes built on deposits.
Last reviewed: 15 October 2026
Red flags
- "Mining" just by keeping an app open on your phone
- Fixed daily income from renting machines
- Minimum withdrawal thresholds or deposits before withdrawal
The reality
Bitcoin mining now needs specialised machines and huge amounts of electricity; a phone's power is negligible by comparison. Many "cloud mining" schemes do no mining at all and pay old members' "income" from new members' money. More: how Bitcoin mining works.
Example: HyperFund.