OKEx Bitcoin Mining Swimming Pool Reveals Indications of Life After Precipitous Hashrate Decline


Cryptocurrency exchange OKEx is seeing minor indicators of task from its mining swimming pool after shedding 99.5% of its hash price this loss after the exchange put on hold withdrawals from trading accounts.

OKEx swimming pool miners appeared to leap ship with late October as well as right into November as the swimming pool’s hashrate went down from over 5,000 petahashes per secondly (PH/s) to listed below 20 PH/s just 2 weeks after the exchange put on hold withdrawals.

Currently the swimming pool is beginning to reveal indicators of life. Although still dramatically listed below its previous hashrate degrees, OKEx Swimming pool’s hashrate has actually recoiled to 198.67 PH/s, up by an aspect of 11 from its lows in November of 18 PH/s.

In an e-mail to CoinDesk, Chief Executive Officer Jay Hao stated his company’s technique for steady renovation as well as recuperation makes sure “routine thorough interaction with miners” to comprehend their “present as well as future requirements.” Many thanks to this, the swimming pool is slowly recouping, according to Hao.

Yet the roadway to complete recuperation is long.

Prior To October, OKEx Swimming pool was just one of the globe’s 10 biggest mining swimming pools, extracting approximately greater than 250 blocks each month in 2020, according to information from BTC.com.

In November, the swimming pool just discovered 3 blocks. It has actually extracted no blocks up until now in December.