Binance to Close Bitcoin Mining Pool on November 10

Closure of Binance Pool and Related Services Announced

Binance has revealed plans to shut down its Bitcoin mining pool and associated services on November 10, 2026. This decision affects several platforms, including Binance Pool, Pool Savings, Cloud Mining, and Transaction Accelerator, as well as related features such as Telegram hashrate alerts and email notifications.

The exchange emphasized that miners must transition their hardware to alternative pools before the 07:00 UTC cutoff. Users of Pool Savings are also urged to redeem their positions prior to the service termination. Binance stated, "As part of our ongoing review of products and services, Binance will discontinue Binance Pool and related services on 2026-11-10." After the closure, all mining connections will be disconnected, and submissions of hashrate and mining shares will no longer be accepted.

Background and Impact

Launched in April 2020, Binance Pool ranked ninth among Bitcoin mining pools as of late 2025, contributing approximately 2.3% of the network's total hashrate. The mining pool was one of the last remaining from a period when many exchanges entered the mining space. Its significance was closely linked to Binance's broader exchange and custody operations rather than its mining technology.

The shutdown aligns with Binance's strategic pivot towards traditional finance, which began with the launch of access to over 7,000 U.S. stocks and ETFs in June 2023. Co-CEO Richard Teng noted that this move allows customers outside the U.S. to engage in commission-free trading and fractional share purchases starting at $5. Additionally, Binance is set to introduce a feature called bStocks, enabling users to mint tokenized versions of shares on the BNB blockchain.

Industry experts suggest that major exchanges are diversifying into equities to reduce their reliance on the volatile crypto market. Binance's previous closures, including its NFT service earlier in July, reflect a trend of phasing out older products as the company focuses on new opportunities.

Following the November 10 deadline, miners will have until 23:59 UTC to complete any necessary identity verifications for final payouts. Although Binance Pool pages will remain accessible until November 24, they will become permanently inaccessible afterward.