OKX, one of many largest crypto exchanges by buying and selling quantity, has introduced that its mining pool providers might be phased out from right now.
The agency will halt new consumer registrations on Jan. 26, with current customers capable of proceed to make use of the pool till Feb. 25. All OKX mining pool-related providers might be discontinued on Feb. 26.
OKX, which rebranded from OKEx in January 2022, stated it had made the choice because of “enterprise changes,” however didn’t elaborate additional.
OKX’s pool beforehand supported the mining of a number of proof-of-work cryptocurrencies, in addition to providing staking providers. Nonetheless, lots of the supported property had already been terminated lately and now solely Bitcoin, Litecoin and Ethereum Basic pool providers are displayed on its web site, with a complete of simply 19 energetic miners.
Withdrawal suspension noticed OKX’s hashrate drop
At one level, OKX’s Bitcoin mining pool had grown to about 5% of the blocks mined on the community.
Nonetheless, following a short lived suspension of withdrawals on the crypto trade on Oct.16, 2020 — as certainly one of its non-public key holders was “cooperating with a public safety bureau in investigations” — hashpower linked to the pool dropped dramatically from 9,000 PH/s to twenty PH/s, and it has struggled to get better since. The pool’s present 528 TH/s represents lower than 0.0001% of Bitcoin’s complete hashrate.
The Block has reached out to OKX for remark.
