SparkPool, the Chinese Ethereum mining pool, has confirmed that it will put an end to its services beginning with September 30th as a result of the new crackdown.
The company confirmed that it had already stopped offering services to new users in China and that beginning September 30th, it would stop all services for all users, in China and abroad.
SparkPool declared that the reason was “an effort to be maximally compliant with regulatory requirements.” As previously reported, China reinforced a new wave of anti-crypto rules a week ago, making crypto-related activities illegal.
The company was created in 2016, and it became the second-largest miner in terms of the hashrate on the network, second only to Ethermine. The most recent data shows that it contributed 142 TH/s or about 22% of the entire hashrate of the network.