An announcement on BitcoinTalk by Ozcoin mining pool operator Graeme Tee says that they will be temporarily suspended while he works out a payment issue.

According to Graeme the problem originated when he made a mistake with calculating the PPS payout (Pay Per Share) for the pool. Apparently the last 50 PPS blocks earned a total of just under 1247 BTC but the pool actually paid out over 2071 BTC leaving a shortage of 824 BTC totally depleting the pools wallet.

Graeme is attempting to make up the shortfall out of his own funds but his personal 'stash' of bitcoin does not cover. He is in the process of either borrowing the addition funds or selling his own Avalon ASIC pre orders to cover the outstanding amount.

If you want to help Ozcion out of the situation Graeme has asked for you to use the Ozcoin mining pool (even though payments are currently suspended) to help generate income for the pool to cover as much as possible.

Graeme finishes up by saying "I apologize for this major hiccup but am doing my best to get these issues resolved as I think more pools closing is not good for Bitcoin."

Ozcoin is one of the oldest and most reputable bitcoin mining pools that started operation on the 7th of July 2011.