Binance will shut down Binance Pool and several services related to crypto mining on November 10, 2026 at 07:00 UTC. Pool Savings, Cloud Mining and Transaction Accelerator will also disappear. The exchange already asks miners to redirect their machines to another pool. Binance does not give any specific financial or regulatory reasons and simply speaks of a regular review of its products and services.
In brief
- Binance Pool will close on November 10 at 07:00 UTC.
- Cloud Mining, Pool Savings and Transaction Accelerator will also disappear.
- Miners will have to reconfigure their machines before the shutdown.
Binance closes its crypto mining pool after six years
The decision ends a service launched on April 27, 2020. Binance Pool began with Bitcoin mining and an FPPS model intended to distribute revenue more evenly among participants. Like other Bitcoin mining pools, it allows crypto miners to pool their computing power and smooth their rewards.
Six years later, Binance cuts everything. Starting November 10 at 07:00 UTC, Stratum addresses and the various connection points used by the machines will be deactivated. Any computing power sent after this time will no longer be accepted, processed or credited.
The closure goes beyond just the crypto pool. Pool Savings, Cloud Mining, Transaction Accelerator, hashrate alerts sent on Telegram, certain email notifications and mining-related APIs are also affected.
Links to Binance Pool will disappear from the site the same day. However, the pages will remain accessible until November 24 at 07:00 UTC to allow users to view their history, accounts and payment status. Then, they will become permanently inaccessible.
Minors must migrate before November 10
Binance asks users not to wait for the outage. Currently connected machines must be configured to another crypto pool before November 10. Positions still active in Pool Savings will also need to be withdrawn or refunded.
The last eligible rewards will be calculated from shares submitted before the shutdown. Binance may then process remaining balances, refunds and settlements according to the rules of the relevant products and applicable compliance checks.
The timing comes in an already complicated period for the mining of the first crypto. In June, mining difficulty dropped 10.09% after a significant contraction in the network’s computing power. Profitability remains sensitive to the price of bitcoin, the cost of electricity and the performance of new generations of machines.
The exact size of Binance Pool also deserves clarification. We are talking about nearly 65 EH/s, or 7 to 8% of the Bitcoin hashrate. Public data from mempool.space give a significantly weaker image: during the week of September 28, Binance Pool represented approximately 15.09 EH/s, or 1.61% of the network. The methodologies are not identical. It is therefore better to avoid presenting the 7 to 8% as an indisputable measure.
Binance does not give a precise reason
The exchange remains very discreet about the reasons for this closure. His official announcement speaks only of a “continuous review” of its products and services. Binance cites no drop in profitability, no regulatory constraints, or technical problems.
It is therefore impossible to officially attribute the decision to one of these factors. However, the sector is changing rapidly. Several legacy mining companies are reducing some capacity or seeking more revenue in data centers and artificial intelligence computing.
In six months, the hashrate achieved by listed miners monitored by Blocks Bridge Consulting had fallen by 21.2% excluding Bitdeer. Binance chooses a more radical path for its own service: complete closure. This does not mean the end of Bitcoin mining. The power currently directed to Binance Pool may simply migrate to Foundry, Antpool, ViaBTC, F2Pool or other competitors. For Binance Pool users, the important date is now known: November 10, 07:00 UTC.
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