Binance Is Shutting Down Its Bitcoin Mining Pool After Six Years

Decrypt10-13 20:16

In brief Binance will discontinue Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator and related features at 07:00 UTC on Nov. 10. Miners must point their hardware to another pool ...

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The closure covers Binance Pool, Pool Savings, Cloud Mining, and Transaction Accelerator, along with Telegram hashrate alerts, email notifications, and the pool's API.\n“As part of our ongoing review of products and services, Binance will discontinue Binance Pool and related services on 2026-11-10,” Binance wrote. “All Binance Pool-related services will be discon...","collect":0,"end_time":0,"defaultTopTitle":"decrypt.co","property":[],"viewcount":null,"language":"en","relate_stocks":{"CBTY":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - July","BFJL":"FT Vest Bitcoin Strategy Floor15 ETF - July","BTCW":"比特币ETF-Wisdom Tree","BETH":"比特币&以太币期货ETF-ProShares","BTCZ":"T-Rex 2X Inverse Bitcoin Daily Target ETF","DEFI":"比特币期货ETF-Hashdex","CBXA":"Calamos Bitcoin 90 Series Structured Alt Protection ETF – April","BITI":"1倍做空比特币期货ETF-Proshares","CBOY":"Calamos Bitcoin Structured Alt Protection ETF - July","CBXJ":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - January","BITO":"比特币期货ETF-ProShares","BTC":"Grayscale Bitcoin Mini Trust","BRRR":"比特币ETF-CoinShares","BPI":"Grayscale Bitcoin Premium Income ETF","XBTY":"GraniteShares YieldBOOST Bitcoin ETF","BTCC":"Grayscale Bitcoin HIGH Income ETF","CBXO":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - October","BTCI":"NEOS Bitcoin High Income ETF","BTF":"比特币&以太币期货ETF-CoinShares","CBXY":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - July","BITU":"2倍做多比特币期货ETF-Proshares","CBOA":"Calamos Bitcoin Structured Alt Protection ETF - April","IBIT":"比特币ETF-iShares","BAGY":"Amplify Bitcoin Max Income Covered Call ETF","DFII":"FT Cboe Vest Bitcoin Strategy & Target Income ETF","CBOJ":"Calamos Bitcoin Structured Alt Protection ETF - January","BTCL":"T-REX 2X LONG BITCOIN DAILY TARGET ETF","BCCC":"Global X Bitcoin Covered Call ETF","CBTA":"Calamos Bitcoin 80 Series Structured Alt Protection ETF – April","QBF":"Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly","MAXI":"比特币期货ETF-Simplify","ARKB":"比特币ETF-21Shares","BITX":"2倍比特币期货ETF-Volatility Shares","SBIT":"2倍做空比特币期货ETF-Proshares","CBTJ":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - January","BTCO":"比特币ETF-Invesco Galaxy","HODL":"比特币ETF-VanEck","BITC":"Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF","FBTC":"比特币ETF-Fidelity","BITY":"Amplify Bitcoin 2% Monthly Option Income ETF","MNRS":"GRAYSCALE BITCOIN MINERS ETF","YBTC":"比特币看涨期权ETF-Roundhill","BTRN":"比特币期货ETF-Global X","EZBC":"比特币ETF-Franklin","GBTC":"比特币ETF-Grayscale","BITB":"比特币ETF-Bitwise","CBOO":"Calamos Bitcoin Structured Alt Protection ETF - October","CBTO":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - October","BETE":"等权重比特币&以太币期货ETF-ProShares"},"translate_title":"币安将在六年后关闭其比特币矿池","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HODL":0.6,"BITO":0.6,"CBXJ":0.6,"CBXO":0.6,"FBTC":0.6,"BITY":0.6,"BTC":0.6,"BITU":0.6,"CBTJ":0.6,"CBTY":0.6,"BETH":0.6,"CBOJ":0.6,"QBF":0.6,"BITX":0.6,"IBIT":0.6,"BTRN":0.6,"BETE":0.6,"BTCL":0.6,"MAXI":0.6,"BTCZ":0.6,"CBOY":0.6,"BFJL":0.6,"BPI":0.6,"EZBC":0.6,"BAGY":0.6,"YBTC":0.6,"BTCW":0.6,"BRRR":0.6,"DEFI":0.6,"SBIT":0.6,"CBOA":0.6,"GBTC":0.6,"BITI":0.6,"BTCO":0.6,"XBTY":0.6,"ARKB":0.6,"BITC":0.6,"BTCI":0.6,"DFII":0.6,"BCCC":0.6,"BTCC":0.6,"BITB":0.6,"CBOO":0.6,"CBTA":0.6,"CBXA":0.6,"MNRS":0.6,"BTF":0.6,"CBTO":0.6,"CBXY":0.6},"content_text":"In brief\nBinance will discontinue Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator and related features at 07:00 UTC on Nov. 10.\nMiners must point their hardware to another pool before the cutoff, and Pool Savings users must redeem their positions before the service ends.\nThe closure follows Binance's July shutdown of its exchange NFT service and its June push into U.S. stocks and tokenized equities.\nBinance will shut down its mining pool and several related services on Nov. 10, the exchange said in an announcement published Tuesday. The closure covers Binance Pool, Pool Savings, Cloud Mining, and Transaction Accelerator, along with Telegram hashrate alerts, email notifications, and the pool's API.“As part of our ongoing review of products and services, Binance will discontinue Binance Pool and related services on 2026-11-10,” Binance wrote. “All Binance Pool-related services will be discontinued. Binance Pool will begin disconnecting mining connections, and Binance Mining Pool Stratum URLs and mining endpoints will be disabled. Hashrate submissions and mining shares submitted after this time will no longer be accepted, processed, or credited.”Myriad: How high will Bitcoin go? Click to make your prediction.A mining pool combines the computing power of many miners and splits block rewards among them based on the work each one contributes. Cloud Mining let users buy hashrate, a slice of mining power, without owning any hardware, while Transaction Accelerator helped users push through Bitcoin transactions that were slow to confirm because of low fees or network congestion.Binance pool launched in April 2020 and ranked ninth among Bitcoin pools at the end of 2025, with about 26 exahashes per second, or 2.3% of the network, according to Hashrate Index. One exahash per second equals a quintillion guesses every second at the puzzle that earns a block.Image: Hashrate IndexThe same report called Binance Pool the last pool still standing from the era when exchanges rushed into mining, with its relevance tied to Binance's exchange and custody business rather than mining technology.Seems like Binance, just as Satoshi Nakamoto, wants to move onto other things. The shutdown arrives as Binance expands into traditional finance. On June 1, the exchange opened access to more than 7,000 US stocks and ETFs for customers outside the United States, with zero commission and fractional purchases from $5, according to co-CEO Richard Teng. It also previewed bStocks, a coming feature that lets users mint tokenized versions of the shares they buy on the BNB blockchain.Quantmap co-founder Ivan Patriki told Decrypt at the time that large exchanges are moving into equities because they no longer want to depend on crypto market cycles. Vytautas Mackonis, COO of RWA protocol ALCUM, told Decrypt the offering is more structurally complex than it appears, with Binance as the interface, Nest Trading as the broker-dealer, and Alpaca Securities as the custodian.BitcoinBTC · USD$83,227−2.79%24H7D1M1YYTDOct 6Oct 8Oct 10Oct 12Oct 13$85.6k$84.0k$82.4k$80.7k24h HighHigh$84,07424h LowLow$81,018VolVol$1.3BMarket projectionsOdds by MyriadToday$82,000 to $84,000$82k–$84k57% chanceThis weekBelow $84,000Below $84k60% chance→Buy Bitcoin with USDTPowered by Jupiter$50$100$500BuyPrice data by CoinGeckoCoinGeckoMore Bitcoin news and projections →Binance also closed its centralized NFT service on July 3, telling users to move their tokens to Binance Wallet, its self-custody wallet. Then-CEO Changpeng Zhao used the phrase “smooth sunsetting of old products” in 2023.At 07:00 UTC on Nov. 10, Binance Pool will begin disconnecting miners and disable its Stratum URLs, the server addresses miners point their machines at to connect to the pool. Shares, the proofs of work that determine each miner's payout, will stop being credited after that time, while those submitted earlier count toward final rewards. Binance said eligible outstanding rewards, balances and refunds will be processed afterward, subject to its product rules, account status and compliance checks.Miners must point their hardware to another pool before the cutoff, and Pool Savings users need to unsubscribe or redeem their positions before the service ends. Binance said the pool will keep operating normally until the cutoff. Anyone expecting a final payout has until 23:59 UTC on Nov. 10 to finish any required identity verification. Binance Pool pages will stay viewable until 07:00 UTC on Nov. 24, after which they become permanently inaccessible.Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.Your EmailGet it!Get it!","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2675336201","isCrawlerRequest":true}