It is always somewhat troublesome to learn a popular mining pool is shutting down without giving users prior notice. Altcoin enthusiasts who were using the Clevermining pool will have to look for an alternative. The project has been shut down a few days ago. As of today, no one knows for sure what drove this decision. Clevermining remains quite tightlipped regarding this sudden change of heart.

Clevermining Suddenly Shuts Down

Over the past year or so, the Clevermining pool had successfully gained a lot of traction among altcoin enthusiasts. The mining pool positioned itself as a pool supporting “smart mining”. This meant the platform automatically switches between dozens of Scrypt coins to mine the one that is most profitable at that time. All generated coins are sold through exchanges, allowing companies such as Clevermining to pay miners in Bitcoin directly.

Although smart mining altcoins is not necessarily all that profitable, having a pool do all of the switching-between-currencies legwork is quite intriguing. All users needed to do was direct their mining hardware to the Clevermining pool and enter their Bitcoin wallet address as the username. Profits were then automatically sent to that Bitcoin wallet every day. Some days were far more profitable compared to others, but that is to be expected

Interestingly enough, there has been no indication of Clevermining shutting down in the future. The news came as a complete surprise to altcoin miners and anyone who has ever used the pool to generate bitcoins from mining. There is no explanation as to why the decision was made either, which leaves a lot of room for speculation. All servers have been halted as of April 28th, and it appears the mining pool will not come back anytime soon either.

A lot of users are quite curious to find out what has happened to Clevermining. There is no answer to this pressing question right now. It is also worth mentioning the Clevermining team was seeing some good returns from their mining operation to date. It is possible market saturation has reduced profitability to a point where operating a smart mining pool makes no more sense. However, until the company issues an official statement, we won’t know for sure what drove this decision.

Header image courtesy of Shutterstock

Tags: , ,

Leave a Reply

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.