{"id":51266,"date":"2021-09-29T10:07:43","date_gmt":"2021-09-29T10:07:43","guid":{"rendered":"https:\/\/timestampmag.com\/?p=51266"},"modified":"2021-10-01T10:16:50","modified_gmt":"2021-10-01T10:16:50","slug":"ethereum-mining-pool-sparkpool-shuts-down-all-services","status":"publish","type":"post","link":"https:\/\/timestampmag.com\/2021\/09\/29\/ethereum-mining-pool-sparkpool-shuts-down-all-services\/","title":{"rendered":"Ethereum Mining Pool Sparkpool Shuts Down All Services"},"content":{"rendered":"
Days after China announced its most serious crackdown on the crypto market, its effect on the crypto mining industry is showing up now. Sparkpool, the world\u2019s second-largest Ethereum mining pool, announced<\/a> that it is suspending its operations in China.<\/p>\n Additionally, the company said it will now suspend the mining pool services for all of its existing China-based \u2014 as well as international \u2014 customers by the end of this month. The shutdown of Sparkpool comes at a time when Ethereum continues its switch from a proof-of-work consensus mechanism to a proof-of-stake model in 2022, which is a part of the long-planned upgrade known as Ethereum 2.0.<\/p>\n
\nIn its announcement, Sparkpool said that its closure is a response to Chinese regulatory policy requirements. Sparkpool further said that it will provide information through emails and in-site messages till September 30th with details on how to withdraw their funds.<\/p>\nChinese Clampdown Intensifies<\/h2>\n