How do I start mining bitcoin in the cloud?

As a cryptocurrency enthusiast, I'm keen on understanding the intricacies of mining bitcoin in the cloud. Could you please elaborate on the initial steps involved in setting up a cloud mining operation? I'm particularly interested in knowing how to select a reliable cloud mining provider, the hardware requirements, and any necessary software or setup procedures. Additionally, I'd like to understand the potential risks and challenges associated with cloud mining, as well as any tips or best practices for maximizing profitability. Your insights and expertise in this area would be greatly appreciated.