Avoid hash mining at all cost. Think like this; Why would people sell a PROFITABLE mining power cyclus if they can just use it themselves instead of running it at a loss? It makes no sense. Unfortunately today there are loads of website like these offering "cloud mining".
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Yeah I think so too, why would they sell mining power if it is really profitable? If I own that much mining rigs/miners myself I would keep it for myself.
In case you were wondering though, genesis mining is very real. Trevonjb recently traveled to iceland where he shot a video inside the mining farm and talked with the owners. He has a youtube channel and is here on steemit. On both platforms he has a significant following and is rather influential. I recommend you follow him @trevonjb
Saw that post too, will try to watch the talk with the owners. I followed him and on his Coin Count everyday he shows proof of profit from Genesis Mining. I am really 50/50 on this will definitely research on it.
But to look at it at a different perspective the returns are in altcoins and when the prices of the altcoins go really high that will be massive profit.