Renowned cryptocurrency exchange OKEx is observing slight signs of activity from its mining pool after losing 99.5% of its hashrate earlier this autumn after the exchange suspended withdrawals from several of its trading accounts.
OKEx Bitcoin pool miners appeared to jump ship in late October and into November as the pool’s hashrate dropped from over 5,000 petahashes per second [PH/s] to below 20 PH/s only within less than 15 days after the exchange suspended its withdrawals.
Now the pool is beginning to show some signs of life again.
Although still significantly below its earlier hashrate levels, OKEx Pool’s hashrate has rebounded to 198.67 PH/s, up by a sum of 11 from its lows in November of 18 PH/s.
According to the CEO Jay Hao, the firm’s strategy for gradual improvement and recovery ensures “regular in-depth communication with miners” to know their “present and future needs.” as due to which, the pool is gradually recovering, consistent with Hao.
But the road to full recovery is still a long way to go. Earlier in October, OKEx Pool was one among the world’s 10 leading mining pools, mining a mean of over 250 blocks per month in 2020, consistent with data from BTC.com.
Also earlier in November, the pool only found three blocks. It’s mined zero blocks thus far in December.