Binance to Shut Down Binance Pool Mining Service on Nov. 10

Binance will shut down its mining pool, Binance Pool, along with related services on Nov. 10, 2026, at 2:00 AM ET, the exchange said in a notice posted late Monday, Oct. 12 (around 11 PM ET). The closure also covers Cloud Mining, Pool Savings, the Transaction Accelerator, pool API services and hashrate alerts. Binance gave no specific reason beyond an "ongoing review of products and services."

Details

At the cutoff, Binance will start disconnecting miners, disable its Stratum URLs and mining endpoints, and stop accepting or crediting shares submitted afterward. Miners are told to point their hardware to another pool before the deadline, and Pool Savings holders should redeem their positions. Shares submitted before the cutoff count toward the final reward calculation, and outstanding rewards, refunds and settlements will be processed after Nov. 10, subject to account and compliance checks. Pool pages with payout history will stay online for 14 more days, until Nov. 24.

Binance Pool launched in April 2020, starting with bitcoin before adding other coins. According to mempool.space, it has mined 22,188 bitcoin blocks over its lifetime — roughly 2.3% of all blocks since the site began tracking it. Its share has shrunk since: 48 of 4,418 blocks over the past month, about 1.1%, ranking 12th among pools, and just 9 blocks (about 0.8%) over the past week.

What it means for the market

For the bitcoin network, the exit is barely a blip: its hashrate will migrate to other pools, while Foundry USA (about 26% of blocks over the past month), AntPool (21%) and F2Pool (16%) remain on top. If anything, block production could become slightly more concentrated among the largest pools.

The bigger signal is about Binance's priorities: the exchange is pruning a side business with a small and shrinking market share rather than trying to win hashrate back. Cloud Mining and Pool Savings users should review their positions now, since no new rewards will accrue after Nov. 10. For the broader market picture, see the daily brief.