No, moldy bread should usually be thrown away.
Cutting off the visible mold is not a reliable fix because bread is soft and porous.
Can you eat bread with mold on it?
TL;DR
No. Do not eat moldy bread or just cut off the moldy spot.
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Bread is porous, so mold can spread through it even when you only see one fuzzy spot.
The rest of the loaf may look fine, but that does not mean it is clean. This is especially true if the bread has been stored in a warm or humid place.
To help bread last longer, keep it sealed, freeze extra slices, and avoid reaching into the bag with wet hands.
Moldy bread is not worth saving. Toss the loaf and freeze bread earlier next time if you will not use it quickly.
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