ViaBTC, Chinese bitcoin mining pool, has announced on Monday that it will close its marketplace for mining contracts this week, asking all users to finish cloud mining contract trading ASAP.
According to the ViaBTC statement, it would shut down the market — through which users can purchase contracts entitling them to a certain amount of hashing power at UTC time 12:00 January 10th in order to control speculation and protect the interests of investors.
ViaBTC has closed exchange service in September 30th, 2017 in response to a crackdown by Chinese authorities on the country's exchange ecosystem, a process that began just after the beginning of 2016. Officials also moved to prohibit the use of ICOs in September.
The news comes as China announced on January 3 its plans to limit the supply of electricity to the cryptocurrency miners due to abuse the low cost of electricity, which sometimes disrupts the normal mode of using electricity.