Monero’s largest mining pool MineXMR to shut down

The MineXMR mining pool announced that it would cease operations on August 12.

The administration urged miners to switch to other platforms to avoid disruption to cryptocurrency mining.

After the pool closes, any remaining rewards will be sent automatically.

The MineXMR team did not disclose an official reason for the closure.

According to MineXMR’s own statistics, at the time of writing the pool’s hashrate stood at 1.04 GH/s, about 40% of the total. There are currently nearly 9,500 miners remaining on the platform.

Earlier in February, members of the Monero were concerned about the concentration of mining power in the MineXMR pool. Some argued this posed a potential risk a 51% attack by the pool’s operators.

Read ForkLog Bitcoin news in our Telegram — cryptocurrency news, prices and analytics.