There is hundreds of ICO going on right now, and some of them related to cloudmining as Hashflare.
I still remember when I started investing to Hashflare, not so long time ago though.
Many of..., I would say "most" of the cloudmining project is scam! Once you payed your money or bitcoin or ETH, they dissapear.
Before investing, of cource you have to research each project very very carefully, read all the whitepaper and go through all the info floating web world. But when it comes to the final decision, you have to believe your "instinct". At least Hashflare is still keeping payout, and I got almost 50% bitcoin back in less than 3 month, so my instinct is no so bad, I think.
My biggest interest right now is "Hydromininer" ( https://www.hydrominer.org/ ). It's a cloudmining project using eco friendly water power in Austria, undergoing ICO right now.
You can see all the info at their site, so I don't white it here (I believe you always have to check "data" directly at original site). What I'd like to white here is "why I or my instinct believe their project".
ICO project can give you wonderful infomation, how profittable their project is..., why you can trust them..., great pictures, and so on. And once again, when ICO end, they are gone. They can say anything, because it scam and can make up all the false infomation.
When I see Hydrominer project, you can easily find many aspect "not so attractive". That where my instinct tells me "this is a true project and they are planing to really mining".
Here is the reason I'd say Hydrominer is not scam.
【ROI is not so high】
Their currently yearly ROI is 60%, which means you have to wait 1 year and 8 months to get your money back. It's much better than keeping money in the bank but now a days most of the ICO give you the info like "you can get your money back in two months" (which is totally false info, scam!!!), so comparing to that, Hydrominer offers much less profit. But think again, if it's scam, why not give us much higher ROI instead of so modest number(60%). The most important thing is their sincerelity. And if you invest while they are doing Taken sale ICO, you can get a little bit more bonus, so actually yearly ROI is not 60%, a little bit more.
【They are showing not only beauty pictures, but the true pictures】
In the HydroMiner Tour Video on youtube ( 
【You invest for electricity power, not hashpower】
If you invest One H2O, you can get 5kwH of mining performance for 2 years,not like buying hash rates, it ensures that your mining contracts will go on to perform good level, because if you invest hashrate it goes priceless within e year, but electricity power doesn't.
【You can sell H2O token in exchange market】
When the ICO finish, you can start selling H2O token in exchange market. You can get token sale bonus, so even if the price of ETH goes down (until 20%), the price of H2O coin maintain the same value as you invested. If the price of ETH goes up, you can get even more value added.
【videos, tours and whitepaper】
Furthermore, they are showing all the info to ensure future plans in whitepaper, and many people uploading videos of plant tours and interview.
They start giving payout on February, let's wait and see if my instinct telling the truth or not. Do you want to join us? ICO ends on NOV 15 2017, 10:00 UTC.
Hydrominer ICO token sale
https://www.hydrominer.org/token-sale/