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Chinese ViaBTC increases commission for cloud mining

The Chinese cryptocurrency mining pool ViaBTC has showed a plan to adjust the fees for cloud mining maintenance, which may affect, as reported, tightened regulation in the country.

15.Jan.18 11:50 PM
By Daria Zaytseva


Chinese ViaBTC increases commission for cloud mining

In an online statement released on January 11, ViaBTC said it would temporarily increase the support fee ratio for the AntMiner S9 cloud mining contract from the previous 6 percent to 50 percent. The data shows that currently the mining pool accounts for 13.8 percent of global computing power.

According to the statement, from 8:00 UTC on January 12, this change is the result of the scarcity of mining resources currently available in China.

Such notification appeared only a few days after the company announced the closure of its contract market for cryptocurrency mining on January 8. At that time, reports indicated that Chinese regulators were taking steps to reduce tax, electric and land benefits for cryptocurrency mining companies, efforts to curb their operations.

Although the company did not indicate how long this temporary change will take effect, according to the statement, users can apply for termination of cloud mining contracts of AntMiner S9 until January 18.

Meanwhile the statement said that the coefficient of the support fee ratio for the AntMiner D3 or L3 contracts remains unchanged at 6 percent, but they are not yet available for termination.

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