Share this article
OKEx Bitcoin Mining Pool Shows Signs of Life After Precipitous Hashrate Drop
The troubled bitcoin mining pool is up 181 PH/s from its 18 PH/s lows in November.
By Zack Voell
Updated Mar 6, 2023, 3:07 p.m. Published Dec 9, 2020, 5:58 p.m.
Cryptocurrency exchange OKEx is seeing slight signs of activity from its mining pool after losing 99.5% of its hashrate this autumn after the exchange suspended withdrawals from trading accounts.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
OKEx bitcoin pool miners seemed to jump ship through 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 two weeks after the exchange suspended withdrawals.
Now the pool is starting to show signs of life.
Although still significantly below its previous hashrate levels, OKEx Pool's hashrate has rebounded to 198.67 PH/s, up by a factor of 11 from its lows in November of 18 PH/s.
In an email to CoinDesk, CEO Jay Hao said his firm’s strategy for gradual improvement and recovery ensures “regular in-depth communication with miners” to understand their “current and future needs.” Thanks to this, the pool is gradually recovering, according to Hao.
But the road to full recovery is long.
Before October, OKEx Pool was one of the world’s 10 largest mining pools, mining an average of more than 250 blocks per month in 2020, according to data from BTC.com.
In November, the pool only found three blocks. It has mined zero blocks so far in December.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
需要了解的:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
