Binance will discontinue its Bitcoin mining pool and related services on November 10 after the operation’s share of network block production fell to a fraction of its former level. According to Binance’s official closure notice, Binance Pool, Pool Savings, Cloud Mining and Transaction Accelerator will stop operating at 07:00 UTC, alongside its Stratum endpoints, mining API and notification services.
The shutdown was announced on October 13 as part of what Binance described as an ongoing review of products and services. Since then, activity has continued to decline. Mempool.space recorded just one Bitcoin block from Binance Pool during the seven days ending November 9, representing roughly 0.11% of observed network blocks. The pool’s latest identified block was mined on November 6.
Binance Pool Hashrate Falls Before Shutdown
The contraction predates the closure announcement. Hashrate Index data cited in October placed Binance Pool at approximately 9.2 EH/s, down about 65% from roughly 26 EH/s in December 2025, when it represented around 2.3% of Bitcoin’s computing power. More recent Mempool.space data indicate an estimated weekly hashrate near 1.05 EH/s, although short measurement windows can fluctuate significantly because Bitcoin block discovery is probabilistic.
Binance had previously been a meaningful participant in a mining market already dominated by a handful of large pools. The concentration issue has been developing independently of its exit, with the largest Bitcoin mining pools already controlling a substantial share of block production. Over the latest seven-day window, Mempool.space placed Foundry USA, AntPool and F2Pool at a combined share of roughly 61%.
Binance Pool’s closure does not automatically remove its connected mining machines from Bitcoin. Independent miners can change their Stratum configuration and redirect computing power to another pool. A similar distinction applied when SBI Crypto prepared to close its mining pool, where the relevant network effect was redistribution of hashrate rather than elimination of the underlying hardware.
Mining Services End November 10
Binance says mining shares submitted before 07:00 UTC on November 10 will remain eligible for the final reward calculation. Shares and hashrate submitted after the cutoff will no longer be accepted, processed or credited, meaning equipment still pointed at Binance’s disabled endpoints will stop earning pool rewards.
Pool Savings users must unsubscribe or redeem positions before service termination. Binance also asks users expecting remaining rewards, refunds or settlements to complete any required identity verification by 23:59 UTC on November 10. Historical pool pages will remain accessible until November 24 at 07:00 UTC before becoming permanently unavailable.
The shutdown comes amid wider restructuring across the mining industry. Some operators are leaving pool services, while others are reallocating physical infrastructure toward different workloads. Hyperscale Data, for example, ended Bitcoin mining at its Michigan facility to convert the site into AI infrastructure, while Core Scientific has accelerated its own shift from mining toward AI data-center capacity.
Those cases differ from Binance because Binance Pool primarily coordinates miners rather than representing a comparable fleet of company-owned ASICs. The immediate question after November 10 is therefore where its remaining miners redirect their hashpower. That redistribution could strengthen existing pools, move capacity toward smaller competitors or leave some machines temporarily offline, but current data do not yet establish which outcome will dominate.
