{"id":344927,"date":"2021-09-27T17:30:00","date_gmt":"2021-09-27T14:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/second-largest-ethereum-mining-pool-to-suspend-all-operations\/"},"modified":"2021-09-27T17:30:00","modified_gmt":"2021-09-27T14:30:00","slug":"second-largest-ethereum-mining-pool-to-suspend-all-operations","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/second-largest-ethereum-mining-pool-to-suspend-all-operations\/","title":{"rendered":"# Second-largest Ethereum mining pool to suspend all operations"},"content":{"rendered":"

“# Second-largest Ethereum mining pool to suspend all operations <\/strong>”
\n<\/p>\n

Sparkpool, the second-largest Ethereum mining pool in the world, is suspending operations due to the ongoing Chinese crackdown on crypto.<\/p>\n

The mining pool officially announced<\/a> Sept. 27 it has suspended access to new users in mainland China in response to Chinese authorities initiating new measures to combat crypto adoption in the country.<\/p>\n

Following initial restrictions made last Friday, Sparkpool will continue shutting down services, and plans to suspend existing mining pool users both in China and abroad on Sept. 30.<\/p>\n

According to the announcement, the measures intend to ensure safety of users\u2019 assets in response to \u201cregulatory policy requirements.\u201d \u201cFurther details about the shutdown will be sent out through announcements, emails, and in-site messages,\u201d Sparkpool noted.<\/p>\n

Launched<\/a> in China in early 2018, SparkPool has emerged as one of the world\u2019s largest mining pools for mining Ether (ETH) alongside the world\u2019s largest Ethereum mining pool Ethermine. At the time of writing, SparkPool\u2019s mining power makes up 22%<\/a> of Ethereum\u2019s global hashrate, slightly lower than Ethermine\u2019s share of 24%, according to Poolwatch.io.<\/p>\n

The news<\/a> comes amid the Chinese government reinforcing its negative stance on crypto, declaring all crypto-related transactions illegal in the country last Friday. Some of the biggest cryptocurrency exchanges like Binance and Huobi have subsequently suspended<\/a> new account registrations from mainland China, reportedly keeping servicing users in Hong Kong.<\/p>\n

Related: <\/em><\/strong>Ethereum drops more than Bitcoin as China escalates crypto ban, ETH\/BTC at 3-week low<\/em><\/strong><\/p>\n

SparkPool did not immedia<\/a>tely respond to Cointelegraph\u2019s request for comment.<\/p>\n

SparkPool\u2019s shutdown comes as Ethereum continues its switch from a proof-of-work consensus mechanism to a proof-of-stake model in 2022 \u2014 part of the long-planned upgrade known as Ethereum 2.0. As previously reported by Cointelegraph, Ether miners will not have many choices after Ethereum 2.0 finally arrives, as their mining equipment is set to become obsolete.<\/p>\n