CEX.IO, one of the leading bitcoin exchanges and cloud mining service providers, has announced the temporary suspension of its cloud mining services. They can attribute this policy change to the sudden and drastic drop in bitcoin value in the past weeks. The suspension is set to begin at the next bitcoin mining difficulty increase and it is unclear how long the suspension will continue.
Jeffery Smilth, Chief Information Officer of CEX.IO, stated that this is a forced temporary measure, and
CEX.IO operates a large mining pool through Ghash.IO, once the most powerful in the network in therms of total hashrate. Currently, they opperate at 42 PH/s, or about 12% of the total network hashrate. Users who have purchased cloud based mining power will retain ownership during the suspension, and will automatically resume once the suspension has been lifted.
Jeffery Smilth, Chief Information Officer of CEX.IO, stated that […]