China-based Sparkpool shuts down all ETH mining pool services By BTC Peers
One of the world’s leading mining pools, Sparkpool, has decided to shut down its local and international Ethereum mining pool services in response to regulatory changes in China.
It is China’s second largest Ethereum mining pool. On Monday the Hangzhou-based firm announced that it has already stopped services to customers from China.
— SparkPool (@sparkpool_eth) September 27, 2021
Sparkpool added that the suspension also applies to its international customers, and by the end of this month, it would have suspended its mining pool services for all customers, both local and international.
Over the last 24 hours, Sparkpool’s Ethereum hash rate has fallen by more than 8 percent. China has reacted to the increased scrutiny and tightening of trading and crypto mining activity. This can be attributed in part to this.
The firm’s decision to suspend services indicates the severity of China’s intense clampdown. Huobi, one of China’s most prominent crypto exchanges has been forced to leave the area by intense pressure from Chinese authorities. Huobi plans to terminate all accounts belonging to China-based users by the end the year.
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