Binance to Close Its Bitcoin Mining Pool and Related Services

Table of Contents

• You might want to know


• Main Topic


• Key Insights Table


• Afterwards...

You might want to know

• What should Binance Pool miners and Pool Savings users do before the shutdown?


• Why is Binance withdrawing from mining while expanding into traditional financial products?

Main Topic

Binance plans to discontinue Binance Pool and several associated services on 2026-11-10, ending an operation that began in April 2020. The announcement, published on Tuesday, covers Binance Pool, Pool Savings, Cloud Mining and Transaction Accelerator. It also includes related features such as Telegram hashrate alerts, email notifications and the pool’s API. Binance said the decision followed an ongoing review of its products and services.

The transition has a specific deadline. At 07:00 UTC on Nov. 10, Binance Pool will begin disconnecting mining connections and disable its Mining Pool Stratum URLs and mining endpoints. Stratum URLs are the server addresses miners configure their machines to use when connecting to a pool. After the cutoff, the pool will no longer accept, process or credit hashrate submissions and mining shares.

A mining pool brings together the computing power of multiple participants. When the pool earns a block reward, it distributes the proceeds among participating miners according to the work each has contributed. Mining shares are proofs of work used to track that contribution and calculate payouts. Binance’s notice distinguishes between submissions made before and after the cutoff: work submitted earlier will count toward final rewards, while later submissions will not be credited.

Miners who currently direct their hardware to Binance Pool will need to choose another pool and update their mining configuration before the service ends. Failing to change the destination in time means their machines will no longer submit work to Binance Pool after the shutdown begins. Binance stated that the pool will continue operating normally until the cutoff, giving customers a period to make arrangements.

Users of Pool Savings also have an action to take. They must unsubscribe or redeem their positions before the service ends. Cloud Mining customers, who bought access to hashrate rather than operating their own mining equipment, should review any relevant account details and service terms as the closure approaches. Transaction Accelerator, which helped users speed up Bitcoin transactions delayed by low fees or network congestion, is included in the discontinuation.

Binance said eligible outstanding rewards, balances and refunds will be processed after the closure. Processing will remain subject to the applicable product rules, account status and compliance checks. Customers expecting a final payout should note the identity-verification deadline: any required verification must be completed by 23:59 UTC on Nov. 10. The announcement therefore makes clear that shutting down mining activity does not necessarily mean every account-related payment will be immediate or automatic; eligibility and account requirements still apply.

Access to historical Binance Pool pages will also be limited. The pages are expected to remain viewable until 07:00 UTC on Nov. 24, after which they will become permanently inaccessible. Users who may need past information should review or save relevant details before that deadline, while observing Binance’s rules and any applicable privacy requirements.

Binance Pool opened in April 2020 and had become a notable participant in Bitcoin mining. According to Hashrate Index, it ranked ninth among Bitcoin pools at the end of 2025, with about 26 exahashes per second, or 2.3% of the network. One exahash per second represents a quintillion guesses every second at the computational puzzle miners must solve to earn a block. These figures describe the pool’s reported scale at that point in time; they do not indicate that Binance controlled the same share of the entire network at all times.

Hashrate Index described Binance Pool as the last remaining pool from the period when cryptocurrency exchanges moved rapidly into mining. Its assessment was that the pool’s significance was closely connected to Binance’s exchange and custody businesses, rather than to a distinct mining technology advantage. The closure may therefore be understood in the context of how the company allocates attention across its broader financial and crypto services, although Binance’s announcement did not provide a detailed explanation beyond its product review.

The move comes alongside Binance’s expansion into conventional financial markets. On June 1, the exchange opened access to more than 7,000 US stocks and ETFs for customers outside the United States. Co-CEO Richard Teng said the offering provided zero-commission trading and fractional purchases starting from $5. Binance also previewed bStocks, a planned feature that would allow users to mint tokenized versions of shares they purchase on the BNB blockchain.

Industry observers have pointed to the motivation and structure behind such offerings. Quantmap co-founder Ivan Patriki told Decrypt that large exchanges are moving into equities because they do not want to rely solely on crypto market cycles. Vytautas Mackonis, COO of real-world-asset protocol ALCUM, said the arrangement was more structurally complex than it might first appear. He described Binance as the user interface, Nest Trading as the broker-dealer and Alpaca Securities as the custodian. Those comments offer context for the market shift, but they are not a substitute for the legal and operational details of any particular product.

The pool closure follows another change in Binance’s product lineup. On July 3, Binance closed its centralized NFT service and told users to move their tokens to Binance Wallet, its self-custody wallet. In 2023, then-CEO Changpeng Zhao used the phrase “smooth sunsetting of old products” when discussing product closures. Taken together, these developments illustrate a company periodically discontinuing services while adjusting its offerings and priorities.

For customers, the immediate priorities are practical: miners should redirect equipment to another pool before 07:00 UTC on Nov. 10; Pool Savings users should unsubscribe or redeem their positions; and anyone anticipating a final payment should complete required identity checks by 23:59 UTC on Nov. 10. Binance Pool pages will remain accessible only until 07:00 UTC on Nov. 24. Customers should consult Binance’s official notices and account-specific instructions, since eligibility, balances and processing can depend on product rules and compliance reviews.

Key Insights Table

Afterwards...

Binance’s decision marks the end of a mining service that operated for six years, while the company continues to develop products connected to wider financial markets. The closure does not by itself establish how Binance will approach mining or other services in the future. It does, however, make the near-term timetable clear for pool customers: move mining equipment, settle or redeem eligible positions, meet any verification requirements and retrieve information before access ends. The longer-term significance will depend on how Binance’s financial offerings develop and whether customers find value in the services that remain or are introduced next.