May 19, 2024


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The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

A few days ago, one of the largest Bitcoin mining pools, Poolin, suspended withdrawals from their wallet service, PoolinWallet, in an effort to stabilize assets and preserve liquidity. This is significant because 1) Poolin is a China-based mining pool service, operating in China after the mining ban, and 2) the pool was estimated to have roughly 10% of the hash rate before withdrawals were suspended.


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