Key Takeaways
- Binance is pulling the plug on Binance Pool and its related mining services on Nov. 10, ending a six-year run.
- Since launching in April 2020, Binance Pool has mined 22,188 blocks and collected 137,059 BTC in rewards.
- Binance joins SBI Crypto Pool and Poolin on the sidelines as mining profits tighten and operators face mounting pressure.
Binance Pool to Shut Down After Six Years and 22,188 Mined Bitcoin Blocks
According to mempool.space statistics, Binance Pool, the firm’s mining operation, has mined 22,188 blocks and ranked as the ninth-largest mining pool by hashrate as of press time Tuesday. The pool entered the Bitcoin mining arena on April 24, 2020, at block height 627474 and has since accumulated a sizable 137,059 BTC in mining rewards—about $11.4 billion worth at bitcoin’s recent price near $83,400.
On Oct. 12, the company issued a formal notice announcing that the mining pool and its accompanying services would cease operations next month. “As part of our ongoing review of products and services, Binance will discontinue Binance Pool and related services on 2026-11-10,” the notice explains.
Binance added:
“The services to be discontinued are Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator, as well as other Binance Pool-related features such as Telegram hashrate alerts, email notifications, and mining pool API services.”
The notice provides users with instructions for claiming their remaining eligible mining shares and disconnecting from the bitcoin mining pool. Curiously, however, it offers no explanation for the company’s decision to discontinue Binance’s mining services. Right now, Binance Pool remains operational, directing 19.7 exahash per second (EH/s) toward the Bitcoin network and successfully mining approximately three blocks over the past 24 hours.
Mining Pool Closures Mount in 2026 as Industry Economics Tighten
Binance Pool is hardly the only mining operator to bow out of the industry in 2026. Japan’s SBI Holdings previously operated SBI Crypto Pool, announcing its decision to wind down operations on July 2, 2026. Meanwhile, bitcoin mining pool Poolin encountered a different predicament, filing for Chapter 11 bankruptcy protection on July 22, 2026, in the U.S. Bankruptcy Court for the District of New Jersey.
The shutdowns come at a time when bitcoin mining revenue has been slim, and many physical operations have been gravitating toward powering artificial intelligence (AI) services. And while these three mining pools have been the prominently reported cases, smaller or lower-profile pools may have quietly faded without major coverage. At the same time, miningpoolstats data shows that 127 entities, including a considerable number of solo miners, continue to contribute computing power to the Bitcoin network.
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