Binance announced on Tuesday that it plans to discontinue its crypto mining pool and related services on November 10. The closure will affect Binance Pool, Pool Savings, Cloud Mining, and the Transaction Accelerator, along with associated features including Telegram hashrate alerts, email notifications, and mining pool APIs.
Mining pool Stratum URLs and mining endpoints will begin disabling immediately. Hashrate submissions and mining shares received after 7:00 UTC on November 10 will no longer be accepted or credited. No new rewards, yield, or service benefits will accrue after this time.
Binance will process outstanding rewards, balances, refunds, and settlements after 7:00 UTC on November 11, subject to applicable product rules, account status, risk controls, compliance checks, and applicable laws. Pool pages will remain accessible for viewing historical data, account records, and payout status until 7:00 UTC on November 24, after which all access will be permanently unavailable.
Users have been advised to disconnect from Binance Pool and reconfigure their miners to point to an alternative mining pool before the discontinuation date. Those with active Pool Savings positions should unsubscribe or redeem them. Binance also recommends ensuring accounts can receive rewards and refunds, including completing required identity verification.
Why Binance Is Closing the Service
Binance cited an ongoing review of its products and services as the reason for the decision. The exchange characterized the closure as a routine evaluation of its portfolio rather than attributing it to external factors such as profitability, regulatory pressure, or market conditions.
The mining pool currently supports Bitcoin, Zcash, Litecoin, Ethereum Classic, Bitcoin Cash, and Kaspa. Binance Pool accounts for approximately 65 exahashes per second of the global Bitcoin hashrate, representing 7% to 8% of the current Bitcoin hashrate of 968 EH/s. The pool closure is not expected to impact the Bitcoin network or price.
