Microsoft has banned cryptocurrency mining from its online services to protect all of its cloud customers, media reports said.
Microsoft's Summary of Changes to the license states: "Updated Acceptable Use Policy to clarify that mining cryptocurrency is prohibited without prior Microsoft approval."
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Within the license itself, there was hardly any more info, reports The Register.
Moreover, a section headed "Acceptable Use Policy" states: "Neither Customer nor those that access an Online Service through Customer, may use an Online Service: to mine cryptocurrency without Microsoft's prior written approval."
"Cryptocurrency mining can disrupt or even impair Online Services and its users, and is often associated with unauthorised access to and use of customer accounts," Microsoft told The Register.
"We made this change to further protect our customers and mitigate the risk of disrupting or impairing services in the Microsoft Cloud," Microsoft was quoted as saying.
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"Permission to mine crypto may be considered for Testing and Research for security detections," it added.
Last year, Microsoft warned customers about a new crypto mining malware that can steal credentials, remove security controls, spread via emails and ultimately drop more tools for human-operated activity.
Called 'LemonDuck', the crypto mining malware targeted Windows and Linux systems, spreading via phishing emails, exploits, USB devices and brute force attacks in various countries, including India.
FAQs
Microsoft has banned cryptocurrency mining from its online services to protect all of its cloud customers, media reports said. Microsoft's Summary of Changes to the license states: "Updated Acceptable Use Policy to clarify that mining cryptocurrency is prohibited without prior Microsoft approval."
Why is crypto mining banned? ›
More recently, countries have blocked Bitcoin mining after seeing how the industry can destabilize energy systems and suck-up energy supplies. In 2022, Kosovo outlawed all crypto mining in an effort to conserve electricity during an energy crisis.
Can you use cloud services to mine crypto? ›
Cloud mining allows individuals to engage in cryptocurrency mining, like Bitcoin, without the need to possess or manage mining hardware. Instead, users rent crypto mining capacities from companies that own and operate the hardware.
Is crypto mining allowed in AWS? ›
Well, yes, if you're paying the full price for the AWS services you're not likely to make a profit. But if you've got access to a free AWS account, or have heaps of AWS credits that are about to expire, you may be able to extract some Bitcoins.
Did China ban bitcoin mining? ›
China is where bitcoin mining truly built its scale from an individual hobbyist project to an economic force that could shape the world. Yet, China's bitcoin mining ban shut down the whole industry and scattered bitcoin miners to the winds.
How harmful is crypto mining? ›
Crypto mining is typically harmful to the environment because of the significant energy and equipment that are required. Nonrenewable energy production and electronic equipment manufacturing are both associated with the emission of greenhouse gases.
Why are people against crypto mining? ›
Crypto Mining Causes Local Air, Climate and Water Pollution
Crypto mining that relies on burning fossil fuels for electricity, directly or indirectly, causes all of the air and water pollution impacts of the underlying method of generating electricity.
Can the IRS track crypto mining? ›
The IRS can audit you if they have reason to believe that you are underreporting your taxable income from cryptocurrency. Typically, the limit for conducting an audit is three years after a taxpayer has filed their tax return.
Does Google Cloud allow crypto mining? ›
Running cryptomining software in Google Cloud is a violation of Google Cloud Platform Terms of Service.
Can crypto mining be illegal? ›
Is Bitcoin Mining Legal? In many jurisdictions, Bitcoin mining is legal. However, there are still some countries where it is illegal, so it's important to check the activity's status in your country before you start mining.
The biggest bitcoin mining countries are: 1) The United States (40%) 2) China (15%) 3) Russia (12%) This map will look very different in 1-2 years as miners in Africa and Latin America expand operations. A massive trend in the industry will be miners migrating toward these regions.
Is crypto banned in Russia? ›
In the summer of 2023, Russia's ministry of finance already proposed to prohibit the organisation of the circulation of cryptocurrencies with the exception of stablecoins and the sale of coins by miners. However, the initiative was blocked by Russia's secret service FSB and the investigative committee.
How many bitcoins does China own? ›
Governments Holding the Most Bitcoin
Governments across the world own an estimated 567,316 BTC, representing 2.70% of the total supply. The Chinese government reportedly holds 190,000 BTC that was recovered from the Plustoken scam in 2019. Members of the Ukrainian government privately hold roughly 46,351 BTC.
Why crypto mining is not profitable anymore? ›
Bitcoin mining requires nearly 139 terawatt-hours (TWh) of electricity per year, which is more than the annual energy consumption of Norway. The more expensive that electricity gets, the fewer profits miners can make.
Why is Bitcoin mining controversial? ›
Critics say that mining is causing both long-term environmental damage, due to its energy use, as well as local harm. “We're at a loss here,” Granbury resident Shadden says. “We want our lives back.” Bitcoin is so energy-intensive because it relies on a process known as proof-of-work.
Is crypto mining still valid? ›
Yes. Crypto mining can be profitable - but there are factors miners need to consider including electricity costs, mining difficulty, and market conditions. All these can significantly impact profitability.
