The Chinese Mining Pool ViaBTC announced its intention to increase the commission charged under the contracts for cloud mining, citing increased pressure from regulators.
ViaBTC reports that it will temporarily raise the commission for servicing the AntMiner S9 miners, which are provided to customers through cloud mining contracts, from 6% to 50%. At the time of publication, ViaBTC accounts for 14.1% of the hash-capacity of the bitcoin network.
As a reason for such a decision, ViaBTC noted the deficit of the mining resources in China, caused by the latest actions of local regulators.
Recently, due to policy changes, 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. To guarantee the long run of cloud mining, ViaBTC has no choice but have to readjust our maintenance fees.
Although ViaBTC reports that these measures are temporary, the specific time frame isn't specified. At the same time, users who are owners of mining contracts for AntMiner S9 have the right to cancel them before January 18.