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ZEC $1,152 Binance shuts mining pool November 10, forcing miner migration
Binance will close its Bitcoin mining pool and related services, requiring miners to move their equipment to alternative pools.
Key takeaways
- Six years of operations end. Binance Pool has run for more than six years since launching in April 2020.
- 2.3% of network affected. The pool ranked ninth among Bitcoin pools at end of 2025 with 26 exahashes per second, or 2.3% of the network.
- Part of broader shift. Binance opened access to more than 7,000 US stocks and ETFs on June 1 as it expands into traditional finance.
What happened
Binance announced it will discontinue Binance Pool and related mining services at 07:00 UTC on November 10, 2026. The closure ends an operation the exchange has run for more than six years since launching the pool in April 2020.
The shutdown extends beyond the mining pool itself. Binance will also discontinue Pool Savings, Cloud Mining, Transaction Accelerator, mining pool APIs, Telegram hashrate alerts and email notifications. Affected products will no longer generate new rewards, yield or service benefits after the cutoff.
Miners must disconnect their equipment from Binance Pool and reconfigure their machines to point at another pool before the deadline. Hashrate submissions and mining shares received after 07:00 UTC on November 10 will no longer be accepted, processed or credited.
Eligible mining shares submitted before the cutoff will be included in the final reward calculation under applicable Binance Pool rules. Binance says eligible outstanding rewards, balances, refunds and settlements may be processed afterward, subject to product terms, account status, risk controls, compliance checks and applicable laws.
Users expecting a final payout must complete any required identity verification by 23:59 UTC on November 10. Binance Pool pages will remain accessible until 07:00 UTC on November 24 for historical data, account records and payout status.
Binance framed the decision as part of an ongoing review of products and services but did not explain the financial or operational reasons behind the closure.
First $84.4KLatest $81.8K-3.1% over the period
Points are daily observations, not closing prices.
Why it matters
At the end of 2025, Binance Pool ranked ninth among Bitcoin pools with 26 exahashes per second, representing 2.3% of the network. The pool was the last remaining pool from a period when exchanges expanded into mining, according to Hashrate Index.
The closure compounds consolidation pressure in Bitcoin mining. SBI closed its pool and Poolin filed for bankruptcy in 2026, reducing the number of alternatives available to miners seeking to distribute their hashrate.
Binance has been reshaping its product mix away from traditional crypto services. The exchange closed its centralized NFT service on July 3 and opened access to more than 7,000 US stocks and ETFs on June 1 for customers outside the United States, signaling a strategic pivot toward traditional asset trading.
Miners using Binance Pool must identify and migrate to alternative pools within the operational window. The closure provides no direction on replacement providers, leaving miners to evaluate competing pools based on their own criteria.
What is still unclear
- Binance did not disclose why it decided to discontinue mining operations or what factors drove the closure decision.
- The announcement does not specify the number of miners affected, the volume of computing power currently on the pool, or which alternative pools might absorb displaced hashrate.
- Binance has not published an automatic payout schedule or specified the mechanics for final settlements after November 10.
Questions readers ask
What services is Binance discontinuing on November 10?
Binance will discontinue Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator, mining pool APIs, Telegram hashrate alerts and email notifications at 07:00 UTC on November 10, 2026.
What percentage of Bitcoin network hashrate will Binance Pool's closure affect?
At the end of 2025, Binance Pool held 26 exahashes per second, representing 2.3% of the Bitcoin network.
How long will miners have to move their equipment?
Miners must redirect their equipment to another pool before 07:00 UTC on November 10, 2026. After that time, Binance will disconnect mining connections and no longer accept or process hashrate submissions.
When will Binance process final payouts and rewards?
Binance says eligible outstanding rewards, balances and refunds will be processed after November 10, subject to product terms, account status and compliance checks. The company has not published a specific payout timeline.
