Binance will shut down Binance Pool and its related mining services on November 10, ending a business that has operated since April 2020. All mining connections will begin disconnecting at 07:00 UTC, after which submitted hashrate and mining shares will no longer be accepted, processed or credited. The closure covers Pool Savings, Cloud Mining, Transaction Accelerator, Telegram hashrate alerts, email notifications and the pool API.
According to Binance’s official closure announcement, miners should disconnect and redirect their equipment to another pool before the cutoff. Users with Pool Savings positions are also being told to unsubscribe or redeem before service ends. Binance says the decision forms part of an ongoing review of its products and services, without identifying a more specific reason for terminating the mining business.
Miners Face a November 10 Migration Deadline
Binance will include eligible shares submitted before 07:00 UTC on November 10 in its final reward calculations. Outstanding rewards, balances, refunds or settlements will then be processed under the relevant product rules, account status, risk controls and compliance requirements. Users should ensure their accounts can receive remaining payments and complete any required verification by 23:59 UTC on November 10.
Historical access will continue temporarily after mining stops. Binance Pool pages will remain available until November 24 at 07:00 UTC so users can review account information, historical records and payout status before those pages become permanently inaccessible. The two-week window preserves access to records but does not extend mining, Pool Savings yields or other pool services beyond the November 10 cutoff.
The shutdown is smaller in network terms than some headline hashrate estimates suggest. Mempool.space currently estimates Binance Pool at approximately 19.8 EH/s over 24 hours, with three blocks and a 2.03% block share during that window. Its seven-day block share was only 0.84%, while Bitcoin’s total estimated weekly hashrate stood near 1.01 ZH/s. Current public mining data therefore do not support describing Binance Pool as controlling 65 EH/s or 7–8% of Bitcoin’s network hashrate at the time of the announcement.
Pool Closure Does Not Remove Mining Hardware
The distinction between a mining pool and the miners connected to it is important. Binance Pool coordinates hashpower and distributes rewards, but it does not necessarily own the underlying ASIC equipment contributing that work. Closing the pool does not automatically remove its connected mining capacity from Bitcoin; miners can redirect their machines to another Stratum endpoint and continue hashing.
A similar redistribution occurred around the planned closure of SBI Crypto’s Bitcoin mining pool, where pool termination required miners to redirect approximately 2.2% of network hashrate rather than physically shut down the underlying equipment. That distinction matters in a market where Bitcoin block production is already concentrated among several large mining pools. Binance’s exit can alter pool-level distribution even if total network computing capacity remains broadly unchanged.
A sustained reduction in active mining power would eventually be reflected in Bitcoin’s difficulty adjustment, but there is no basis yet to assume Binance Pool’s closure will cause such a decline. Mining capacity frequently shifts between pools and jurisdictions, including during disruptions such as electricity curtailments affecting miners in Ethiopia. The measurable effect after November 10 will be where Binance-connected hashrate migrates, not the amount of hashrate previously attributed to Binance Pool alone.
For individual miners, the operational requirement is more immediate. Equipment left pointed at Binance’s deactivated endpoints will cease generating credited shares after the deadline, while successfully redirected miners can continue participating through another pool. The shutdown therefore represents the end of Binance as a mining-pool coordinator after more than six years, rather than the disappearance of an equivalent share of Bitcoin’s underlying mining hardware.
