CEX.io Suspends Bitcoin Cloud Mining Services

NEW YORK (InsideBitcoins) – London-based CEX.io, a cloud mining and exchange platform, announced today that it will be suspending its cloud mining services. Due to the fall in the price of bitcoin and the continued costs of energy, the company argued that it currently wasn’t profitable to continue providing the service.
‘Suspension of CEX. IO cloud mining service is only a forced temporary measure, the result of cloud mining costs exceeding mining profit.’
Jeffrey Smith, the Chief Information Officer of CEX.io, said on Twitter: ‘Taking into account the bitcoin price drop, and the increase of difficulty, we will pause cloud mining after the next difficulty increase.’

This post was published at Inside Bitcoins on Jan 12, 2015.

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