KuCoin, one of the leading cryptocurrency exchanges, made an important announcement today.
Announcing that it will suspend the operation of Bitcoin (BTC) and Litecoin (LTC) mining pools on August 15, KuCoin recommended its users to switch BTC and LTC miners to alternative mining pools before August 15, 2023 at 16:00 UTC.
Chinese crypto journalist Wu Blockchain also shared that KuCoin has suspended the operation of BTC and LTC mining pools.
KuCoin announced that it will suspend the operation of the BTC and LTC mining pools on August 16. The current hashrate of the KuCoin BTC mining pool is 7.72 EH/s. Previously, KuCoin started layoffs of nearly 30% and will focus on core business. https://t.co/6c5O2zMuDO
— Wu Blockchain (@WuBlockchain) August 2, 2023
KuCoin made the following statements in its statement:
“In line with KuCoin's evolving business strategy, we regret to inform you that our KuCoin Pool service has been temporarily suspended from 15 August 2023 16:00 UTC until further notice.
During this suspension period, you will have full access and control over your assets and all other KuCoin offers will continue to operate as usual.
To ensure uninterrupted earnings during our temporary suspension period, we advise our cryptocurrency mining users to migrate your BTC and LTC miners to alternative mining pools before 15 August 2023 16:00 UTC.
We also strongly recommend that you back up and protect your mining records and associated data before 27 August 2023 (UTC).
On the other hand, as it is known, the third halving took place in Litecoin today.
*Not investment advice.
