Cryptocurrency change OKEx is seeing slight indicators of exercise from its mining pool after shedding 99.5% of its hash price this fall after the change suspended withdrawals from buying and selling accounts.
OKEx pool miners appeared to leap ship by means of late October and into November because the pool’s hashrate dropped from over 5,000 petahashes per second (PH/s) to beneath 20 PH/s solely two weeks after the change suspended withdrawals.
Now the pool is beginning to present indicators of life. Though nonetheless considerably beneath its earlier hashrate ranges, OKEx Pool’s hashrate has rebounded to 198.67 PH/s, up by an element of 11 from its lows in November of 18 PH/s.
In an e mail to CoinDesk, CEO Jay Hao mentioned his agency’s technique for gradual enchancment and restoration ensures “common in-depth communication with miners” to know their “present and future wants.” Due to this, the pool is step by step recovering, in response to Hao.
However the highway to full restoration is lengthy.
Earlier than October, OKEx Pool was one of many world’s 10 largest mining swimming pools, mining a mean of greater than 250 blocks per 30 days in 2020, in response to knowledge from BTC.com.
In November, the pool solely discovered three blocks. It has mined zero blocks thus far in December.