Fourth Biggest Ethereum mining pool decided to shut down amid China crackdown

Beepool became the latest to  decide to stop their operations because of the renewed China crypto ban.

Recently China announced a renewed ban on crypto related operations, which are associated with the crypto directly or indirectly and also ordered exchanges to shut down the services which are providing their services from outside of China. 

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Beepool is the fourth largest mining pool of Ethereum, which connects people globally to do mining operations. 

Beepool announced on 28 September, that they will not allow new users to register accounts and also all existing users will be discontinued soon. And it is expected that they will halt their operations by October 15, by suspending their server online.

Earlier this, SparkPool announced to stop their operations. SparkPool is the second biggest mining pool of Ethereum. This mining pool covers more than 25% of the hash power of Ethereum. 

This news is coming after the announcement of a second renewed crypto ban by the People’s Bank of China, recently. 

Here restriction and pressure on crypto related websites also can be seen. Few crypto related websites stopped their website accessibility for the Chinese users. And also Chinese authorities banned Coinmarketcap & Coingecko like websites through the China internet firewall. 

Read also: CFTC fines $1.25M on Kraken for CEA violation