Miners are required to redirect their hashrate prior to the cutoff on July 31, as the pool will cease to accept contributions after this date.
By Francisco Rodrigues|Edited by Nikhilesh De Jul 2, 2026, 2:44 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- SBI Crypto plans to shut down its Bitcoin mining pool on July 31, 2026, concluding a service that contributes approximately 2% of the overall network hashrate.
- Miners need to redirect their hashrate prior to the cutoff, as the pool will no longer accept contributions after that date.
- The company did not specify a reason for the closure, which comes amid challenges from decreasing mining margins and increasing operational expenses.
SBI Crypto has confirmed it will shut down its mining pool on July 31, marking the end of a service associated with one of Japan’s largest financial entities and leaving miners with less than a month to shift their hashrate.
The pool will cease to accept mining shares, which reflect a miner’s contributions, on the cutoff date, as stated by SBI Crypto. Shares submitted after this date will not be accepted, although the firm indicated that the pool is anticipated to function normally until the shutdown date.
The company encouraged its clients to continue mining with the pool until the cutoff to ensure that eligible shares are factored into the final payout calculations.
According to data from Hashrateindex, SBI Crypto's mining pool accounts for about 2% of the Bitcoin network's total hashrate. The firm did not provide a reason for the shutdown in its announcement and did not disclose the current hashrate for the pool.
Operating under SBI Group, a prominent Japanese financial conglomerate, the mining pool was launched to the public in 2021, with SBI claiming at that time it would support the pool with around 1.1 EH/s of its mining power.
The closure occurs as Bitcoin mining faces pressure from declining margins, fluctuating hashrate, and rising operational costs. The hashrate for Bitcoin has been decreasing from its peak in October, coinciding with a price drop for the cryptocurrency, and some miners are transitioning to AI infrastructure operations. Bitcoin BTC$61,576.81 has seen a 50% decline in value over the past year from its all-time high reached in the fall.
Last year, SBI Crypto was also associated with a reported $21 million hack, which blockchain investigator ZachXBT suggested bore similarities to attacks linked to North Korea.
However, the closure notice from SBI does not mention this incident as a reason for shutting down the pool.
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