The Bitcoin [BTC] mining industry has been quite controversial. Over the years, the increased energy consumption of the mining process has proved to be detrimental. However, even though the industry has become sustainable now, several firms continue to express distress over it. Earlier this month, Microsoft decided to take a step back for unknown reasons.
Microsoft updated its policy terms and pointed out that cryptocurrency mining on its online services would not be allowed. In order to utilize this service, miners are required to seek prior approval. This move by Microsoft came into effect on Dec 1.
Under the section, “Acceptable Use Policy”, Microsoft wrote,
“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.”
Speaking to The Register, Microsoft affirmed that its latest move was done in order to protect its online services from “disruption or impairment.” The platform pointed out that its users were quite often associated with cyber fraud and abuse attacks like “unauthorized access to and use of customer resources.”
Elaborating on the same, Microsoft said,
“We made this change to further protect our customers and mitigate the risk of disrupting or impairing services in the Microsoft Cloud.”
It should be noted that Google Cloud, Oracle, as well as Digital Ocean, previously prohibited cryptocurrency mining without prior permission.
Here’s how Bitcoin mining has been faring
With Bitcoin residing below the $20K zone, Bitcoin mining hasn’t been very profitable. Over the past year, Bitcoin mining profitability witnessed a massive plummet.
Bitcoin mining profitability at press time was at 0.062 USD/Day for 1 THash/s. This is considered to be quite low. Meanwhile, Bitcoin was seen trading for $17,575.89 with a 1.96% daily drop. It should be noted that BTC surged to a monthly high of $18,318.53 earlier today.