Mining pool Poolin closed withdrawal
Without exaggeration, one of the largest bitcoin mining pools is closing the withdrawal of funds due to lack of liquidity.
Withdrawal was frozen on Monday, according to the platform - for the time being, temporarily, until further notice. The reason is the lack of liquidity and the decrease in operational stability.
In their blog on Medium, the guys complained about the dull cryptocurrency market, because of which the company suffers significant losses.
The company is considering various strategic alternatives to avoid a total shutdown:
- Reducing commissions for miners.
- Changing the miner payout method from FPPS (share of the total fee generated by the pool) to PPLNS (share of blocks mined).
In order to somehow stay afloat, flash transactions and internal transfers in Poolin systems were also closed. At the same time, it is reported that user funds on wallets in the PoolinWallet system are safe.
Scale of the disaster
Over the past 3 months, the mining pool has mined over 10% (1381) of all bitcoin blocks, receiving 8361 BTC as a reward. The pool currently mines about 3.6% of all Ethereum blocks.
We will follow the development of the situation. Read our news and subscribe to social networks. You can also start mining cryptocurrency using Hive OS service.
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