KuCoin’s mining pool to halt operations ‘until further notice’

The pool will suspend operations on Aug. 15 at 12 pm ET

article-image

sarayuth3390/Shutterstock modified by Blockworks

share

KuCoin said its mining pool will go offline “until further notice” in less than two weeks from Wednesday.

The pool, which supports proof-of-work coins such as bitcoin and litecoin, will suspend operations on Aug. 15 at 12 pm ET. 

KuCoin told Blockworks the move is the result of shifting priorities for its broader business.

“The decision to suspend operations of KuCoin Pool was made to align with our evolving business strategy of focusing on core businesses and providing users with a safer and more user-friendly trading platform,” a KuCoin representative told Blockworks.

In its announcement, the crypto exchange recommended that users move their miners to alternative mining pools before the Aug. 15 deadline. The firm also advised users to back up their mining data before Aug. 27.

“We wish to emphasize that the security and integrity of your assets are our utmost priority. Throughout this suspension, you will retain complete access and control over your assets, and all other KuCoin offerings remain operational as usual,” the exchange wrote in a statement.

According to BTC.com, KuCoin’s mining pool is the ninth-largest in terms of hash rate share, comprising 1.2% of the network total over the past three days. 

KuCoin’s bitcoin mining pool produced 8.24 exahashes per second (EH/s) by the time of publication, while the litecoin pool produced 3.84 terahashes per second (TH/s). 

By comparison, Riot Platforms reported a deployed hash rate of 10.7 EH/s as of June 30.

KuCoin has faced other headwinds in the last few months. New York Attorney General Letitia James sued the crypto exchange in January, and more recently, reports emerged of layoffs at the company. Representatives for KuCoin have denied the characterization of layoffs.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

Tariff front-running may have caused an artificial bounce in economic data earlier this year

article-image

Waka Flocka Flame-linked BaseDrop is raising some eyebrows

article-image

IPO’ing onchain, Ethereum scaling, and using AI for ZK

article-image

A Brexit-themed celebration of Bitcoin’s catchphrases

article-image

Judge Analisa Torres said the parties have not demonstrated that vacating her prior ruling is in the best interest of the public

article-image

Prediction markets have found a mainstream fit