CEX.io Halts Cloud Mining Service Due to Low Bitcoin Price
Bitcoin mining service CEX.io has announced it will suspend its cloud mining activities. The company stated in a 12th January blog post that it is no longer profitable, blaming declining revenues amid a dropping bitcoin price. CEX chief information officer Jeffrey Smith told CoinDesk that operations would resume if the price of bitcoin climbs above $320, calling the move "temporary". The suspension comes after CEX customers experienced disruptions to their cloud mining service, which the company at the time attributed to third-party complications. Smith said that the two issues are....
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