Mining Pool Flexpool Halts Services To Russia After Ukraine Invasion

Ethereum’s Mining pool Flexpool halts services to Russia after the Ukraine invasion so now the pool is the first of its kind to cut the services for the Russian users as we can read more in our latest Ethereum news.

The mining pool Flexpool is the world’s fifth-biggest ETH mining pool became possible the first of the kind to cut services to Russian users after the country’s invasion of Ukraine. Flexpool spokesperson said:

“We generally do not get involved in politics despite our personal views as a company. However, this is greater than politics, greater than anyone. This is a war that may end the world. It certainly is ending the lives of many innocent people in Eastern Europe.”

The pool doesn’t want to profit from the crisis or fund it indirectly so it is canceling the services to Russian IP addresses and paying outstanding balances to the users who apologized to the Russian miners. Flexpool is the world’s fifth-biggest ETH mining pool as per the information platform miningpoolstats.com and it is probably the first to cut access to Russians amid the security crisis. Hiveon is the second largest pool and it posted a message of Solidity to Ukraine on its account and said it is quite impossible to stay away from the violence in the region but didn’t announce any action. Reddit users pointed out that the miners can use VPNs to bypass Flexpools restrictions.

As recently reported, Russia ranks third among the countries in BTC mining as measured by the hash rate and its share remained steady after the invasion of Ukraine. If Russian miners were to go offline now, the BTC network could become less secure for a while. Over half of the BTC network’s computing power comes from three countries, the USA, Kazakhstan, and Russia, and now the latter is in a state of war with Ukraine which left the crypto industry watches checking for disruptions on the network.

Putin’s military operation caused huge financial uncertainty in Ukraine and to bring a slight clarity to the situation, the National Bank of Ukraine informed that the monetary institutions will suspend the issuance of electronic money. It is safe to say that Russia’s military operation in Ukraine is in the headlines today as Russian troops are getting further into Ukrainian territory and occupying some of the biggest cities in the country with most of the citizens fleeing their homeland.