Since the concept of cloud-based crypto mining came to light, the emotions surrounding crypto mining have soared and completely grown to a new level. True, all of the drawbacks of cryptocurrency mining have always posed a significant threat to its prohibition.
Furthermore, due to the disadvantages of crypto mining, many nations have banned it. Excessive power usage, massive processing equipment that is truly expensive, and, most importantly, the large room spaces they occupy are major issues. However, cloud-based crypto mining has eliminated all of the anomalies associated with crypto and Bitcoin (BTC) mining.
Mining cryptocurrencies using a cloud service does not require any significant equipment or a lot of space. The sole important need would be in regard to the amount of power that would be consumed. Because every aspect of mining is handled by cloud-based automated software, there is no longer a requirement for significant data storage facilities.
What is cloud mining?
A user can invest in cryptocurrency through cloud mining and perform mining operations without the need for specialised hardware. Customers’ enthusiasm for cloud mining has been piqued by the fact that it requires no financial outlay on their part, as evidenced by findings from the Blockchain Council, a research organisation dedicated to the blockchain.
The Reason for Microsoft’s Ban on Cloud Mining Services:
In order to enable cloud-based crypto mining services for customers, all of the big internet firms indulged themselves. A few of these are Microsoft, Google, Digital Ocean, and numerous others. Azure, Microsoft’s cloud mining service component, has now been discontinued.
This is because users’ primary complaint was that overall cloud speed had substantially decreased, which had caused a lot of headaches for all other cloud users. Additionally, Microsoft’s computing systems have recently experienced a number of capacity issues.
Because of this, Microsoft has also said that cryptocurrency mining on online cloud services needs to be pre-approved in some situations, such as for research and testing only.
The same is true for all other tech giants, like Google and Digital Ocean, in terms of needing permission to allow mining on their clouds. But only Oracle has totally discontinued offering cloud-based cryptocurrency mining services.
According to the December 15 report, Microsoft issued a restriction on crypto mining from its online services in order to protect its cloud services. Moreover, the business has placed limits as a part of the universal license conditions of Microsoft Online Services as of December 1. They went on to say that “mining cryptocurrencies without prior Microsoft authorisation is banned.” The Microsoft team explains that this choice was made to safeguard customers and lessen the chance that cloud services would be interrupted or degraded.