KuCoin suspends Bitcoin, Litecoin mining amid shifting strategy and layoff rumors

Aug. 3, 2023

By Oluwapelumi Adejumo

The news comes less than a week after KuCoin denied any alleged layoff plans.

According to an Aug. 2 statement, KuCoin plans to suspend its Bitcoin (BTC) and Litecoin (LTC) mining pools, effective from Aug. 15, until further notice.

The exchange attributed its decision to its “evolving business strategy” and advised its mining pool users to transition their miners to alternatives before the deadline. KuCoin mining pool users have until Aug. 27 to back up and preserve their mining records and other data.

Other operations not affected

However, KuCoin assured the community that its mining pool operations suspension does not affect other aspects of its services, including its exchange operations and others. Besides that,  its users’ assets remain safe on its platform.

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