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Largest Ethereum Mining Pool Shuts Down Services in China

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Fri, 09/24/2021 - 15:58
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Alex Dovbnya
The number one Ether mining pool has called it quits in China amid the renewed crackdown
Largest Ethereum Mining Pool Shuts Down Services in China
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Spark Pool, the largest Ethereum mining pool that accounts for 25% of the network's total hashrate, has announced that it will no longer provide services for miners located in mainland China.

It cites the need to comply with the latest regulatory policies as the reason behind the decision to close up shop in the country.

The specific details of its shutdown plan will be revealed in the near future.

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U.S. Senator Pat Toomey Sees "Big Opportunity" for the U.S. in China Crypto Ban

As reported by U.Today, China keeps turning the screws on the crypto industry, with its central bank announcing earlier today that all crypto-related business activities have been outlawed.

China's planning agency will also strengthen the ongoing crackdown on the remnants of its once-thriving cryptocurrency mining sector.

Spark Pool says that it will actively cooperate with relevant departments on supervision measures.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.