Stock Groups

China-based Sparkpool shuts down all ETH mining pool services By BTC Peers


© Reuters. China-based Sparkpool shuts down all ETH mining pool services

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 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.

Continue reading on BTC Peers

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are instead provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of the potential risks and financial costs involved in trading the financial market. It is among the most risky forms of investment.