Binance Is Shutting Down Its Bitcoin Mining Pool After Six Years

Binance will shut down its mining pool and a number of other associated providers on Nov. 10, the alternate mentioned in an announcement revealed Tuesday. The closure covers Binance Pool, Pool Financial savings, Cloud Mining, and Transaction Accelerator, together with Telegram hashrate alerts, e-mail notifications, and the pool’s API.

“As a part of our ongoing assessment of services, Binance will discontinue Binance Pool and associated providers on 2026-11-10,” Binance wrote. “All Binance Pool-related providers might be discontinued. Binance Pool will start disconnecting mining connections, and Binance Mining Pool Stratum URLs and mining endpoints might be disabled. Hashrate submissions and mining shares submitted after this time will not be accepted, processed, or credited.”

A mining pool combines the computing energy of many miners and splits block rewards amongst them primarily based on the work each contributes. Cloud Mining let customers purchase hashrate, a slice of mining energy, with out proudly owning any {hardware}, whereas Transaction Accelerator helped customers push via Bitcoin transactions that have been gradual to verify due to low charges or community congestion.

Binance pool launched in April 2020 and ranked ninth amongst Bitcoin swimming pools on the finish of 2025, with about 26 exahashes per second, or 2.3% of the community, in keeping with Hashrate Index. One exahash per second equals a quintillion guesses each second on the puzzle that earns a block.

The identical report referred to as Binance Pool the final pool nonetheless standing from the period when exchanges rushed into mining, with its relevance tied to Binance’s alternate and custody enterprise relatively than mining know-how.

Looks as if Binance, simply as Satoshi Nakamoto, needs to maneuver onto different issues. The shutdown arrives as Binance expands into conventional finance. On June 1, the alternate opened entry to greater than 7,000 US stocks and ETFs for purchasers outdoors the US, with zero fee and fractional purchases from $5, in keeping with co-CEO Richard Teng. It additionally previewed bStocks, a coming function that lets customers mint tokenized variations of the shares they purchase on the BNB blockchain.

Quantmap co-founder Ivan Patriki instructed Decrypt on the time that giant exchanges are shifting into equities as a result of they not need to rely on crypto market cycles. Vytautas Mackonis, COO of RWA protocol ALCUM, instructed Decrypt the providing is extra structurally advanced than it seems, with Binance because the interface, Nest Buying and selling because the broker-dealer, and Alpaca Securities because the custodian.

BitcoinBTC · USD

$83,244−2.77%

24H7D1M1YYTD

Oct 6Oct 8Oct 10Oct 12Oct 13

$85.6k$84.0k$82.4k$80.7k

24h ExcessiveExcessive$84,074

24h LowLow$81,018

VolVol$1.3B

Market projectionsOdds by Myriad

→

$50$100$500

Purchase

Binance additionally closed its centralized NFT service on July 3, telling customers to maneuver their tokens to Binance Pockets, its self-custody pockets. Then-CEO Changpeng Zhao used the phrase “smooth sunsetting of old products” in 2023.

At 07:00 UTC on Nov. 10, Binance Pool will start disconnecting miners and disable its Stratum URLs, the server addresses miners level their machines at to connect with the pool. Shares, the proofs of labor that decide every miner’s payout, will cease being credited after that point, whereas these submitted earlier depend towards remaining rewards. Binance mentioned eligible excellent rewards, balances and refunds might be processed afterward, topic to its product guidelines, account standing and compliance checks.

Miners should level their {hardware} to a different pool earlier than the cutoff, and Pool Financial savings customers have to unsubscribe or redeem their positions earlier than the service ends. Binance mentioned the pool will preserve working usually till the cutoff. Anybody anticipating a remaining payout has till 23:59 UTC on Nov. 10 to complete any required id verification. Binance Pool pages will keep viewable till 07:00 UTC on Nov. 24, after which they turn into completely inaccessible.