One of the largest crypto exchanges OKX announced that its mining pool services will be phased out starting today.
The exchange announced that it will stop new user registrations on January 26 (today). Existing users will be able to continue using the pool until February 25. All services related to the OKX mining pool will be stopped on February 26.
Koinfinans.com As we reported, the exchange stated that it made this decision due to “business adjustments” but did not provide further details.
OKX’s repository has previously been multiple proof-of-work cryptocurrency It supported the mining of its unit and offered staking services. However, most of the supported assets had already been terminated in recent years. Currently, the website only shows Bitcoin, Litecoin and Ethereum Classic pool services, with only 19 active miners in total.
At one point, OKX’s Bitcoin mining pool had reached approximately 5% of the blocks mined on the network. However, following the temporary suspension of withdrawals at the crypto exchange on October 16, 2020 (as one of the private key holders was “cooperating with a public security bureau in investigations) the hash rate attached to the pool decreased significantly from 9,000 PH/s to 20 PH/s.” It crashed and has struggled to recover ever since. The pool’s current 528 TH/s represents less than 0.0001% of Bitcoin’s total hashrate.