That sounds like one of the most idiotic scheme ever. IF mining is profitable, why rent a rig, where it can be assumed that the client also makes a profit after paying the rent, when you, the owner and maintainer of the equipment, can mine directly and keep all of the profits.
Has mining transformed some into idiots?
He's renting out space, not rigs. He has his own rigs for his personal mining, and stumbled into hosting other rigs for a fee, since he had a lot of extra space in his new (rented) building.
Set your fee high enough you get half the profit, without investing in the gear.
Hosting the rigs, like making money off miners, instead of mining yourself in the gold rush. But the gold rush is over and there is no mining going on.
He has no business plan or anything, and is just doing whatever. He's basically giving them free storage when they are off (since mining isn't profitable), he's taking in more rigs than he has space to host figuring he will just find another building.
The real losers were the people suckered into spending $18K on a mining rig, then $265/month to host it, that only left them with $35/month profit, even back when mining was profitable. That's about 2% annual return, so a payback of never, even in the good times.
Just a whole bunch of nutty behavior based on free money to do very little except burn electricity.
Unless these are trust fund kids looking for something to do, reality should grind this to a halt in short order.
Rent on that data center is going to be a fairly hefty monthly with no mining going on, and giving free storage to the other miner rigs, means ZERO income and all outflow.
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