Technology giant Microsoft has banned cryptocurrency mining on its online services without written pre-approval.
According to a Thursday report from The Register, the prohibition on mining crypto was slipped into an update of its Universal License Terms for Online Services that came into effect on Dec. 1.
Microsoft said it made the change because crypto mining can disrupt or impair its online services and its users may be linked to cyber fraud, like unauthorized access and use of customer resources.
“We suggest seeking written pre-approval from Microsoft before using Microsoft Online Services for mining cryptocurrencies, regardless of the term of a subscription,” said the company in advisory to partners on Wednesday.
The firm’s stance is similar to other leading providers of cloud services like Google and Amazon. Google, which also requires written approval for customers to engage in crypto mining, found that 86% of compromised Google Cloud accounts in 2021 were used to mine cryptocurrencies.
Cloud mining has become a popular choice for users without access to expensive mining equipment to make money from crypto mining. Essentially, users pay for the electricity costs and hash rate that go into mining for a specific period of time.
By renting processing power from a cloud mining provider, users can earn rewards from mining proportional to the amount of hash power they purchased from a mining farm.
According to a Sept. 8 report from the Blockchain Council, cloud mining revenues have been “impressively high” and continue to increase at a steady rate.
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- Source: https://unchainedpodcast.com/microsoft-bans-crypto-mining-from-online-services/