{"id":345699,"date":"2021-09-29T05:38:55","date_gmt":"2021-09-29T02:38:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/another-ethereum-mining-pool-forced-to-close-due-to-china-crackdown\/"},"modified":"2021-09-29T05:38:55","modified_gmt":"2021-09-29T02:38:55","slug":"another-ethereum-mining-pool-forced-to-close-due-to-china-crackdown","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/another-ethereum-mining-pool-forced-to-close-due-to-china-crackdown\/","title":{"rendered":"# Another Ethereum mining pool forced to close due to China crackdown"},"content":{"rendered":"<p>&#8220;<strong># Another Ethereum mining pool forced to close due to China crackdown <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvM2Y4OWQyYTgtOTZiYy00ODU3LWE2N2UtZjYyMWRlNWEyNDFkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>BeePool, the fourth largest Ethereum mining pool, is closing amid China&#8217;s crypto crackdown.<\/p>\n<p>The China-based Ethereum mining pool <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/support.beepool.org\/hc\/zh-cn\/articles\/4407131055513-%E5%85%B3%E4%BA%8E%E8%BF%91%E6%9C%9F%E5%81%9C%E6%AD%A2%E7%9F%BF%E6%B1%A0%E6%9C%8D%E5%8A%A1%E7%9A%84%E9%80%9A%E7%9F%A5\">announced<\/a> on Tuesday it will suspend operations &#8220;in response to the latest regulatory policies.&#8221; <\/p>\n<p>Effective im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely, the registration of new users and the addition of sub-accounts for existing users will be discontinued, and all mining access servers are expected to stop operating by October 15.<\/p>\n<p>The announcement comes just a day after <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> broke that SparkPool, the second largest Ethereum mining pool, will suspend operations by the end of the month for similar reasons.<\/p>\n<p>Between them, BeePool and SparkPool account for more than one quarter of Ethereum\u2019s hashrate.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"und\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/MEZJyIqued\">pic.twitter.com\/MEZJyIqued<\/a><\/p>\n<p>\u2014 beepool.org (@beepools) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/beepools\/status\/1442850782529966081?ref_src=twsrc%5Etfw\">September 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Following a lull in its crypto crackdown, late last week it became clear the People\u2019s Bank of China was ramping up a suite of new measures and promoting stronger inter-departmental coordination to suppress crypto activity. The measures aim to cut off payment channels, dispose of relevant websites and mobile <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications in accordance with the law.<\/p>\n<p>The mining crackdown has focused for months on Bitcoin mining which saw a major exodus of mining operations from the country. Now, the Chinese government\u2019s focus appears to have shifted to Ethereum.<\/p>\n<p>On Monday the Guangming media outlet reported that authorities in the autonomous region of Inner Mongolia had <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sohu.com\/a\/492382204_162758\">seized<\/a> 10,000 Ether mining machines from a warehouse after a tip-off. The miners were consuming 1,104 kWh of electricity. <\/p>\n<p>According to the publication Inner Mongolian authorities have shut down 45 virtual currency mining projects so far, reportedly saving 6.58 billion kilowatt-hours of electricity per year, which the outlets claims is equivalent to two million tons of standard coal.<\/p>\n<p>The mining crackdown has contributed to the ETH price dropping below $3,000 yesterday and it is currently trading at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">$2,863.71<\/a> according to CoinGecko. <\/p>\n<p>BeePool has been operating for four years and the mining pool currently accounts for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/etherscan.io\/stat\/miner?range=7&amp;blocktype=blocks\">6.7%<\/a> of the Ethereum mining share with over 3,000 blocks mined in the last week.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Alibaba to ban crypto miner sales amid Chinese crackdown<\/em><\/strong><\/p>\n<p>While mining is profitable now, the introduction of fee burning on the Ethereum London hard fork has reduced profits as miners receive fewer rewards for each block.<\/p>\n<p>The next stage in the blockchain&#8217;s ongoing upgrade to Eth2 was announced earlier today for October. Miners will be further sidelined by the shift to Proof-Of-Stake.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/another-ethereum-mining-pool-forced-to-close-due-to-china-crackdown\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Another Ethereum mining pool forced to close due to China crackdown &#8221; BeePool, the fourth largest Ethereum mining pool, is closing amid China&#8217;s crypto crackdown. The China-based Ethereum mining pool announced on Tuesday it will suspend operations &#8220;in response to the latest regulatory policies.&#8221; Effective immediately, the registration of new users and the addition&#8230;<\/p>\n","protected":false},"author":1,"featured_media":345700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvM2Y4OWQyYTgtOTZiYy00ODU3LWE2N2UtZjYyMWRlNWEyNDFkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[91595,74989,74891,75326,74938,75042,78423,75049,4973,70934],"class_list":["post-345699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bank-of-china","tag-bitcoin-mining","tag-ethereum","tag-ethereum-2-0","tag-ethereum-price","tag-mining","tag-mining-pools","tag-peoples-bank-of-china","tag-china","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/345699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=345699"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/345699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/345700"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=345699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=345699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=345699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}