He mines with the University's system? If this is true. He is a scumbag. I hope he gets caught and they arrest him.

Edit: Nothing is free, if you're not paying for it and you're using it to mine. Someone else is paying for it. If you're morally ok with that then you're probably morally ok with fucking over your investors when shit goes south. Which is a very common thing here. I don't think your friend will do well IPOing here.