Popular

China-based Ethereum mining pool Sparkpool shuts down all services

advertisement

Hangzhou-based Sparkpool, which was launched in 2016, is discontinuing both its domestic and international Ethereum mining pool services.

The firm, currently the second largest Ethereum mining pool, said in an announcement on Monday that in response to regulatory changes, it has already suspended the services for new China-based mining customers following its statement last Friday.

In addition, Sparkpool said it will now suspend the mining pool services for all of its existing China-based — as well as international — customers by the end of this month. 

The real-time Ethereum hash rate connected to Sparkpool has already dropped by more than eight percent over the past 24 hours as result of China's intensified crackdown over crypto mining and trading activities.

That Sparkpool is not just suspending services for home-based customers is a sign of the harsher crackdown measures taken by China, which appear to the most severe since 2017.

Crypto exchange Huobi, one of the major trading venues catering to China-based customers, also said over the weekend that it will retire all existing China-based user accounts by the end of this year.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

SEC said to allow first bitcoin futures ETF to trade in US: report

The U.S. Securities and Exchange Commission is said to be allowing the first Bitcoin futures exchange-traded fund (ETF), per a Bloomberg report. The publication said in a report on Thursday night that the U.S. regulator “isn’t likely to block the products from starting to trade next week,” citing people familiar with the matter. The report […]
Read Full Story
Oct 15, 2021, 2:54AM UTC
More