Tuesday, February 7, 2023
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Microsoft Bans Mining For Cryptocurrencies On Its Cloud Services

Microsoft, a leader in cloud computing, is taking steps to improve the reliability of its cloud services by enforcing new limits on activities such as cryptocurrency mining.

According to a report published by a British technology news agency on December 15, Microsoft has quietly stopped cryptocurrency mining from its online services in order to better secure both its consumers and its cloud infrastructure.

In the section titled “Acceptable Use Policy,” Microsoft said that it now requires customers to acquire a written pre-approval from the firm before they are allowed to use any of the Microsoft Online Services for cryptocurrency mining. This requirement was included in the policy. According to the article, the company also said that it may explore requesting authorization to mine cryptocurrency for the sake of testing and research about security detections.

The software-as-a service approach of Microsoft includes the hosted-software offering known as Microsoft Online Services. This offering is also a component of the software as a service strategy. These services include the cloud computing network provided by Microsoft known as Azure, which is known to enable bitcoin mining for some kinds of subscriptions.

As was previously reported, Microsoft also conducted research and development on blockchain services on Azure. However, in September last year, the company suddenly scrapped its Azure Blockchain Service project.

As a result of ongoing supply-chain limits, Microsoft’s cloud computing systems are said to have had significant capacity shortages over the course of the last several years, as reported by certain sources. It is projected that access to more than half a dozen Azure data centres would continue to be restricted until the beginning of 2023.

Cloud mining is an alternate way to invest in cryptocurrency that enables users to mine digital currencies without utilising mining equipment or gear. Instead, cloud mining relies on a distant datacenter that has pooled processing capacity. Cloud mining is an example of a decentralised form of computing. Cloud mining is regarded as one of the most lucrative approaches to the mining of cryptocurrencies by the blockchain research organisation known as the Blockchain Council.

This is due to the fact that clients are not required to pay for the mining equipment or any other associated expenditures. The revelation comes at a time when the industry of cryptocurrency mining is going through a huge crisis connected to the current cryptocurrency winter. Some miners are close to going broke because they don’t have enough money, and this news comes at the same time.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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