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.
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.
Vladislav Sopov
Denys Serhiichuk
Tomiwabold Olajide