Eating Moldy Food: When It's OK, When It's Not
In general, it’s OK to cut the mold from hard cheeses, such as cheddar, that do not use mold as part of the manufacturing process.
"The rule of thumb is cut off as much as an inch, but I don’t do that because I’d lose most of my cheese!" says Doyle.
As long as you remove the mold with about a half-inch to an inch buffer you should be safe. Just make sure to keep your knife out of the mold so as not to cross-contaminate, and afterwards rewrap the cheese in a fresh covering.