The Fourth-largest Ethereum Mining Pool Forced to Close Due to Pressure in China

The fourth-largest Ethereum mining pool, Beepool, shutting down in China due to Beijing’s anti-cryptocurrency policies.

According to the announcement, the registration of new users and the addition of additional accounts for existing users will be discontinued, and all the mining access servers will stop working until October 15th.

The day before, the second-largest Ethereum mining pool, the SparkPool, was suspended until the end of the month for the same reasons.

Together, BeePool and SparkPool account for over a quarter of Ethereum’s hash rate.

Anti-mining measures in China caused the price of ETH to drop below $3,000 on September 28 and is currently trading at $2,863.71, according to CoinGecko.

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