{"id":50330,"date":"2021-09-28T17:36:02","date_gmt":"2021-09-28T14:36:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50330"},"modified":"2025-09-02T17:30:03","modified_gmt":"2025-09-02T14:30:03","slug":"beepool-mining-pool-to-shut-down-amid-industry-pressure-in-china","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/beepool-mining-pool-to-shut-down-amid-industry-pressure-in-china\/","title":{"rendered":"BeePool mining pool to shut down amid industry pressure in China"},"content":{"rendered":"

On 15 October 2021, one of the largest Ethereum mining pools, BeePool, will cease operations \u201cin light of the latest regulatory requirements.\u201d This is stated on the site<\/a>.<\/p>\n

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\u201cRegistration of new users and the addition of extra accounts will be suspended. All servers will cease operations on 15 October 2021 at 23:59 Beijing time,\u201d BeePool said.<\/p>\n<\/blockquote>\n

According to Etherscan<\/a>, at the time of writing the pool is fourth in the hash rate ranking over the last seven days.<\/p>\n

\"BeePool
Data: Etherscan.<\/figcaption><\/figure>\n

Earlier, the largest Ethereum mining pool SparkPool announced<\/a> the cessation of servicing Chinese users, and then the cessation of operations outside the country<\/a>. F2Pool refused to serve clients from the PRC and warned of account blocks.<\/p>\n

According to BTC.com<\/a>, in the last 24 hours BeePool’s hash rate inflow stood at 31.54%. SparkPool’s figure fell by 17.85%, while F2Pool’s rose by 18.20%.<\/p>\n

\"BeePool
Data: BTC.com.<\/figcaption><\/figure>\n

On 24 September, China\u2019s National Development and Reform Commission pointed to the negative impact of mining on the environment and its “insignificant” contribution to the economy.<\/p>\n

The People\u2019s Bank of China described as illegal the activities of platforms that facilitate the exchange of digital assets among themselves or into fiat.<\/p>\n

Earlier, the regulator’s representative Wen Xinxian called cryptocurrencies and stablecoins a threat to the traditional financial system.<\/p>\n

Exchanges BitMart<\/a>, Binance and Huobi<\/a> closed the ability to register new users in mainland China. The trading platform Biki announced it would cease operations on 30 November.<\/p>\n

Chinese online broker Tiger Brokers will prohibit opening new positions in cryptocurrencies from 1 October 2021, according to a screenshot published by journalist Colin Wu. Earlier, representatives of Futu made a similar statement. The company announced in June<\/a> the launch of trading of digital assets.<\/p>\n

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Tiger Securities, another Chinese online stock trading platform, also issued a similar notice. https:\/\/t.co\/tAprln7F0v<\/a> pic.twitter.com\/17Vpzc5b3g<\/a><\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) September 28, 2021<\/a><\/p><\/blockquote>\n