- OKX has announced the shutdown of its Mining Pool and related services.
- The shutdown will happen in two phases.
- New users won’t be able to access the pool starting today.
Cryptocurrency exchange OKX said on Friday that it will discontinue the Mining Pool and related services “shortly” due to “business adjustments.”
Launched in October 2018, OKX’s mining pool offered Proof of Work (PoW) mining services for a range of cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum Classic (ETC), and Decred (DCR).
OKX Mining Pool Shutdown
In a press release dated January 26, OKX issued a specific schedule for gradually discontinuing its mining pool services.
Sponsored
“On January 26, 2024, we will discontinue the new-user registration feature. Existing users are allowed to continue using the service until February 25, 2024. On February 26, 2024, we will discontinue all mining pool-related services.” The exchange wrote.
The move to shut down the mining pool services came when Bitcoin was set to undergo its fourth halving in April this year when the number of blocks hit 740,000. While the exact day of the halving is unclear, the event will see the block reward for miners fall from 6.25 to 3.125 Bitcoins.
Per MiningPoolStats data, OKX’s mining pool service ends after securing the 36th position among the top 70 Bitcoin-centric mining pools, with a total hash rate of 520.57 TH/s.
Read about OKX’s BTC Ecosystem Carnival campaign:
OKX Sets Wallet Rewards in ‘BTC Ecosystem Carnival’ Campaign
Stay updated on OKX’s win in Dubai:
OKX Secures VASP Crypto License from Dubai Regulator
Sponsored
