Home Bitcoin Mining Bitcoin Mining Fees Surge After Chinese Officials Clamp Down

Bitcoin Mining Fees Surge After Chinese Officials Clamp Down

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Bitcoin mining, the computing process that makes transactions with the cryptocurrency possible, is about to become more expensive for some after China ordered mining facilities to close.

ViaBTC Technology Ltd., which runs the fourth-biggest bitcoin mining collective, is raising maintenance fees for some of its clients Friday to 50 percent from 6 percent, according to a statement posted on its website today.

“Some of our long-term hosting partners are facing a crisis of farm closure as mining resources in mainland China become more scarce, leading to rocketing costs of our cloud mining operation,” the statement said. “To guarantee the long run of cloud mining, ViaBTC has no choice but have to readjust our maintenance fees.”



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