{"id":47791,"date":"2021-08-17T10:49:15","date_gmt":"2021-08-17T07:49:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47791"},"modified":"2025-09-01T23:05:43","modified_gmt":"2025-09-01T20:05:43","slug":"poolin-mining-pool-partially-resumes-payouts-on-hashrate-tokens","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/poolin-mining-pool-partially-resumes-payouts-on-hashrate-tokens\/","title":{"rendered":"Poolin Mining Pool Partially Resumes Payouts on Hashrate Tokens"},"content":{"rendered":"

The Chinese mining pool Poolin partially resumed<\/a> payouts of cryptocurrency to users whose hashrate tokens were blocked in the Mars protocol.<\/p>\n

ERC20<\/a>-tokens pBTC35A and pETH18C can be used in staking to receive WBTC and Ethereum. Each such asset represents 1TH\/s and 1MH\/s of computing power for the respective network. Holders also accrue native tokens of the Mars protocol.<\/p>\n

In June 2021, Poolin ceased payouts on hashrate tokens<\/a>. The decision by authorities in Xinjiang<\/a> and Sichuan<\/a> to halt cryptocurrency mining operations affected the company’s facilities, depriving it of the ability to obtain the underlying assets for pBTC35A and pETH18C.<\/p>\n

According to a fresh press release, all Poolin-owned devices have been “taken off the shelves.” The company is gradually redeploying equipment moved out of China abroad. However, electricity costs at the new sites differ significantly from before.<\/p>\n

When Poolin’s Bitcoin miners were in China, the electricity tariff was $0.058 per kWh. Now it is estimated at $0.08 per kWh (a premium of nearly 38%).<\/p>\n

This also applies to Ethereum miners. Here, electricity costs have doubled\u2014from $0.075 to $0.15 per kWh.<\/p>\n

In addition to higher tariffs, the company has faced other difficulties:<\/p>\n

\n

\u201cFirst, the sheer volume of mining rigs that must be shipped to various sites, along with substantial upfront capital expenditure. Second, recurring COVID-19 outbreaks affecting international and domestic logistics. Third, frequent loading\/unloading, numerous stoppages and long-distance transport have led to damage to some devices (more than 20% of installations require repair).\u201d<\/p>\n<\/blockquote>\n

These factors led to reduced payouts on pBTC35A and pETH18C. Poolin introduced<\/a> depreciation rate and online rate adjustment factors that account for the costs of relocating computing power and the number of devices in operation, respectively.<\/p>\n

There are 214 601 pBTC35A outstanding, corresponding to 214 601 TH\/s of Bitcoin hash rate. Poolin has resumed operations with computing power equivalent to 39 900 TH\/s.<\/p>\n

\"Mining
Statistics on pBTC35A and pETH18C tokens. Data: Poolin.
<\/figcaption><\/figure>\n

According to CoinGecko data, over the past week the price of pBTC35A rose by almost 25%, to $85.6. Over the same period pETH18C rose to $14.4 (+33.4%), Mars to $0.017 (+2.5%).<\/p>\n

As reported in late July the hash rate of Bitcoin and Ethereum began to recover<\/a> as miners migrated from China.<\/p>\n

Subscribe to ForkLog news on VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese mining pool Poolin has partially resumed payouts of cryptocurrency to users whose hashrate tokens were blocked in the Mars protocol.<\/p>\n","protected":false},"author":1,"featured_media":47792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,791,1927],"class_list":["post-47791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-erc-20","tag-poolin"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=47791"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47791\/revisions"}],"predecessor-version":[{"id":47793,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47791\/revisions\/47793"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/47792"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=47791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=47791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=47791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}