Introduction

KuCoin, Exchange with over 20 million customers, will pause Mining Bitcoin and Litecoin pools on Aug 16 as part of a turn towards the core business to focus. Recent layoffs, rumored to have affected nearly 30% of Paid her workforce move.

KuCoin Bitcoin pool hash mining rate currently stands at 9.60 EH/s.

Change KuCoin Tactics

On August 1st announcement, KuCoin said it will temporarily suspend pool service from August 15, 2023, at 16:00:00 (UTC) until further updates are released.

KuCoin Pool is paused of that it second holiday. The ultimate goal of the service was meant to grow into one of the biggest clue-of-work Mining pools globally to enhance security of various public chains.

Although offering Bitcoin and Litecoin mining services, it has been promoted as one of the best performer pools.

Users will have a safe access and total controls over their assets during this period phase. Other KuCoin promotions will continue without interruption.

With this directive, Bitcoin and Litecoin miners have to explore alternative pools before the deadline. At the same time, all customers should back up and primary records maintained by August 27, 2023 (UTC).

Tighten Rules

KuCoin has installed a file decision on their development business strategy.

On July 25, cryptocurrency reporter Colleen Wu said that KuCoin is downsizing like Binance.

KuCoin said the job cuts were not due to performance, but it was meant to improve the main business. However, this could be a file way for the exchange for mobility regulatory changes and overcoming ostracism market conditions remain competitive.