Topic: [2015-01-13] Bitcoin mining service CEX.io has announced it will suspend its cl (Read 563 times)
January 13, 2015, 04:10:15 AM
I am flabber Ghash'ted
January 13, 2015, 12:13:50 AM
http://www.coindesk.com/cex-io-halts-cloud-mining-service-due-low-bitcoin-price/
Bitcoin mining service CEX.io has announced it will suspend its cloud mining activities.
The company stated in a 12th January blog post that it is no longer profitable, blaming declining revenues amid a dropping bitcoin price. CEX chief information officer Jeffrey Smith told CoinDesk that operations would resume if the price of bitcoin climbs above $320, calling the move “temporary”.
The suspension comes after CEX customers experienced disruptions to their cloud mining service, which the company at the time attributed to third-party complications. Smith said that the two issues are unrelated; that the economic impact of a drop in bitcoin prices cut into its ability to offer its clients profitable mining services.
Bitcoin mining service CEX.io has announced it will suspend its cloud mining activities.
The company stated in a 12th January blog post that it is no longer profitable, blaming declining revenues amid a dropping bitcoin price. CEX chief information officer Jeffrey Smith told CoinDesk that operations would resume if the price of bitcoin climbs above $320, calling the move “temporary”.
The suspension comes after CEX customers experienced disruptions to their cloud mining service, which the company at the time attributed to third-party complications. Smith said that the two issues are unrelated; that the economic impact of a drop in bitcoin prices cut into its ability to offer its clients profitable mining services.
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