Binance, a cryptocurrency exchange, has announced that it will be shutting down its Bitcoin mining pool and associated services on November 22, 2026. This comes over six years after the launch of the business. The company made this revelation in a notice issued on October 13, stating that Binance Pool, Pool Savings, Cloud Mining, and its Transaction Accelerator will stop operating at 07:00 UTC.
The APIs for mining pools, hashrate alerts, and related elements will also be discontinued. – Thinkstock. Binance revealed that the decision is a component of an “ongoing examination of products and services,” without offering a comprehensive clarification. Mining pools unite the computing prowess of numerous (often thousands) participating miners and distribute rewards based on the amount of power they provide, providing miners with a more predictable income than individual mining.
Binance instructed miners to reroute their equipment to another pool prior to the deadline. Its mining connections will be disabled, and work submitted after the cutoff will no longer be credited. Users of Binance Pool Savings have been instructed to redeem their positions before the closure.
Binance stated that eligible outstanding rewards, balances, and refunds will be processed based on product terms, account status, and compliance checks. The historical records and payout information will be accessible until November 24 at 07:00 UTC, after which the pool’s pages will be permanently unavailable.
This decision comes after a decrease in computing power dedicated to the pool. In October 2026, CoinDesk published an article citing Hashrate Index, which stated that Binance Pool’s hashrate dropped from around 26EH/s in December 2025 to 9.2EH/s, resulting in a decrease of roughly 65 percent.
The estimated portion of Bitcoin’s network dropped from 2.3% to under 1% during that time. Binance introduced the pool on April 27, 2020, starting with Bitcoin mining and providing fee-free services until the conclusion of May. The platform was created to link miners with its exchange, enabling their mining earnings to be traded straight on the platform.
Thank you for signing up for our newsletter series. 03 Aug 2026.
