I guess the others have already provided some info so I'll just add a little to it.
Just created an account on GH and I have to admit I can't make heads or tails out of it. It it cloud mining?
Yes we're mining though we call it crowd mining since our hashpower is community owned and we're adding small batches of power as we grow. Our mining shares are called GHcoin (or GHX) which is a smart asset stored on the BTC blockchain. This makes GHX the first freely tangible mining shares that can be transferred to anyone with an asset address (color aware wallet).
Like mentioned batch 1 is sold out and since GHX is backed by the farms overall hashpower there is only 25,000 shares in circulation which equals 250 H/s. batch 2 is in the works.
GHcloud is our mining and multi-currency wallet Hub. It is important to note that GHcloud doesn't store any of your data on remote servers and if you do create an account please backup your wallet and the private keys since we don't operate hot wallets. Your entire wallet string (like a wallet.dat) is stored on your end only.
Think of GHcloud as a local wallet with a browser based UI that also gives you access to all other services such as GHpool, the GHfarm transaction logs, mining addresses and your GHX asset info.
I would suggest that you check out the sub-categories of this category and if you still have questions just ask. We're all here to help. Also check out the marketplace. I think there is a couple of WTS threads on there atm.
Eleventhy million and 2