If you activated a free upgrade to Windows 10 or bought and activated
Windows 10 from the Microsoft Store, you have a digital license for
your device. This means you can reinstall the same edition of Windows
10 that your device has a digital license for without entering a
product key. During reinstallation, if you’re asked to enter a product
key, you can skip this step. Windows 10 will automatically activate
online after the installation is complete.
source: https://support.microsoft.com/en-us/help/12440/windows-10-activation
Does MS digital license 'fingerprint' hardware information during the free upgrade / activation and store it (at Microsoft) , so that the next re-install queries MS for the fingerprint and activates Windows 10?
Thought the disk drive may change, I expect that none of the other fingerprinted hardware will change.
Best Answer
Yes; Windows has always been activated based off a hardware fingerprint though. Windows 10 has just made that process more transparent and with the most recent build made the process of transferring eligible retail licenses to another machine even easier.
The only difference between a traditional Windows license and a digital entitlement is that you no longer have to enter the license key when you install Windows 10 if you have a digital entitlement. Windows 10 will automatically activate. Additionally, and specifically optionally, is the ability to link your entitlement to your Microsoft Account.
Source: Activation in Windows 10
Windows activation status has never been connected to the HDD.