diff --git a/CHANGELOG.md b/CHANGELOG.md
index 03033ba3..0750fef1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -42,6 +42,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * Removes the logic for calculating `running_count` and `total_count` in the `missed_blocks` [#548](https://github.com/provenance-io/explorer-service/pull/548)
 * Remove update block latency procedure call [#550](https://github.com/provenance-io/explorer-service/pull/550)
 * Docker images at tag `latest` for main branch merges [#551](https://github.com/provenance-io/explorer-service/pull/551)
+* Refactor account processing implementation to be more efficient [#552](https://github.com/provenance-io/explorer-service/issues/552)
 
 ## [v5.11.0](https://github.com/provenance-io/explorer-service/releases/tag/v5.11.0) - 2024-08-27
 
diff --git a/service/src/main/kotlin/io/provenance/explorer/service/async/ScheduledTaskService.kt b/service/src/main/kotlin/io/provenance/explorer/service/async/ScheduledTaskService.kt
index 25f46998..334e3382 100644
--- a/service/src/main/kotlin/io/provenance/explorer/service/async/ScheduledTaskService.kt
+++ b/service/src/main/kotlin/io/provenance/explorer/service/async/ScheduledTaskService.kt
@@ -54,12 +54,6 @@ import io.provenance.explorer.service.PricingService
 import io.provenance.explorer.service.TokenService
 import io.provenance.explorer.service.ValidatorService
 import io.provenance.explorer.service.getBlock
-import kotlinx.coroutines.CoroutineScope
-import kotlinx.coroutines.Dispatchers
-import kotlinx.coroutines.ExperimentalCoroutinesApi
-import kotlinx.coroutines.channels.ReceiveChannel
-import kotlinx.coroutines.channels.produce
-import kotlinx.coroutines.launch
 import kotlinx.coroutines.runBlocking
 import org.jetbrains.exposed.sql.SortOrder
 import org.jetbrains.exposed.sql.SqlExpressionBuilder.inList
@@ -445,32 +439,23 @@ class ScheduledTaskService(
     }
 
     @Scheduled(initialDelay = 5000L, fixedDelay = 5000L)
-    fun startAccountProcess() = runBlocking {
-        ProcessQueueRecord.reset(ProcessQueueType.ACCOUNT)
-        val producer = startAccountProcess()
-        repeat(5) { accountProcessor(producer) }
+    fun startAccountProcess() {
+        processAccountRecords()
     }
 
-    @OptIn(ExperimentalCoroutinesApi::class)
-    fun CoroutineScope.startAccountProcess() = produce {
-        while (true) {
-            ProcessQueueRecord.findByType(ProcessQueueType.ACCOUNT).firstOrNull()?.let {
-                try {
-                    transaction { it.apply { this.processing = true } }
-                    send(it.processValue)
-                } catch (_: Exception) {
-                }
+    fun processAccountRecords() {
+        ProcessQueueRecord.reset(ProcessQueueType.ACCOUNT)
+        val records = ProcessQueueRecord.findByType(ProcessQueueType.ACCOUNT)
+        for (record in records) {
+            try {
+                transaction { record.apply { this.processing = true } }
+                runBlocking { accountService.updateTokenCounts(record.processValue) }
+                ProcessQueueRecord.delete(ProcessQueueType.ACCOUNT, record.processValue)
+            } catch (_: Exception) {
             }
         }
     }
 
-    fun CoroutineScope.accountProcessor(channel: ReceiveChannel<String>) = launch(Dispatchers.IO) {
-        for (msg in channel) {
-            accountService.updateTokenCounts(msg)
-            ProcessQueueRecord.delete(ProcessQueueType.ACCOUNT, msg)
-        }
-    }
-
     @Scheduled(cron = "0 0 0 * * *") // Every beginning of every day
     fun calculateValidatorMetrics() {
         val (year, quarter) = DateTime.now().minusMinutes(5).let { it.year to it.monthOfYear.monthToQuarter() }