Binance to Close Its Mining Services on November 10 After More Than Six Years

Table of Contents

• You might want to know


• Shutdown Schedule and Scope


• A Two-Week Transition Window


• Binance Pool’s Six-Year History


• Why Is Binance Closing the Service?


• Practical Effects on Miners


• Key Insights Table


• Afterwards...

You might want to know

• What services will end when Binance Pool shuts down, and how much time will users have to move their mining operations?


• Could the closure affect Bitcoin mining as a whole, or does it mainly require individual miners to choose a new pool?

Shutdown Schedule and Scope

Binance (幣安) has announced that it will discontinue Binance Pool and related mining services on November 10. The closure ends a mining-pool operation that began in 2020 and has run for more than six years. The announcement covers Binance Pool itself, Pool Savings, cloud mining, the transaction accelerator, mining-pool APIs, and computing-power notifications.

After November 10, all mining-pool endpoints will be shut down, and miners will no longer be able to connect their computing power through the platform. Binance will stop accepting submitted hashrate and will not count mining shares received after the cutoff. The affected products will no longer generate mining rewards or other returns after the service ends.

Users who have computing power subscribed to Pool Savings are advised to redeem it or cancel their subscriptions before the shutdown. Binance says eligible unpaid rewards, balances, refunds, and settlements will be handled after closure according to the applicable product rules and compliance checks. However, the announcement does not provide a specific timetable for those post-shutdown processes.

The key operational deadline is November 10: miners need to move their hashrate before that date if they want to avoid an interruption. Users should also distinguish between the date mining stops and the later date when account records cease to be available.

A Two-Week Transition Window

Binance has instructed miners to redirect their computing power to another pool before November 10. Users also have until November 24 to access historical records and withdrawal information. After that date, the mining-pool pages will be permanently closed, and the data will no longer be made available through the platform.

This creates a two-week transition period between November 10 and November 24. The first part of that period is relevant to mining operations: users need to connect to another pool before Binance stops receiving hashrate. The remaining time provides an opportunity to review account information, download records, and address outstanding account matters.

Users should not assume that historical data will remain accessible indefinitely. Miners may want to save relevant transaction records, reward histories, and withdrawal details before the pages are taken offline. Those records can be useful for personal accounting, tax reporting where applicable, or resolving later questions about balances and settlements.

The announcement does not specify when every eligible balance or refund will be processed. As a result, users with funds or pending rewards should keep track of the applicable product terms and any subsequent official instructions rather than relying only on the date when the website becomes inaccessible.

Binance Pool’s Six-Year History

Binance Pool launched in April 2020, initially supporting Bitcoin (BTC) mining before expanding to other cryptocurrencies. The launch came less than 40 days before Bitcoin’s fourth halving. At the time, Binance founder Changpeng Zhao (趙長鵬) presented the service as a way for retail participants to take part in mining through collateral and lending models, potentially competing with the traditional large-scale mining model.

Across its six-year operating period, the pool operated through substantial changes in Bitcoin mining economics. The Bitcoin block reward went from 6.25 BTC per block to 3.125 BTC after the 2024 halving. Over the same period, mining difficulty continued to rise, prices for application-specific integrated circuit (ASIC) equipment fluctuated, and debate over the concentration of mining activity remained a recurring feature of the industry.

These changes matter because a mining pool does not operate in isolation. Its prospects depend on miners’ ability to access equipment, electricity, and competitive operating costs, as well as on the rewards available from the Bitcoin network. A halving reduces the block reward, while changes in difficulty affect how much computing power is needed to compete for mining rewards.

Why Is Binance Closing the Service?

Binance has attributed the decision to an ongoing review of its products and services, without giving a specific explanation for closing the mining business. The causes below are therefore industry context and possible considerations, not reasons confirmed by Binance.

One relevant trend is the rising difficulty of Bitcoin mining during 2025-2026. Higher difficulty can make it harder for small and medium-sized miners to compete, particularly when they face large, specialized operations. At the same time, an exchange may choose to focus its resources on businesses it considers more central, such as trading, derivatives, custody, and artificial-intelligence tools.

Compliance is another possible consideration. Mining-pool operations involve coordinating computing power and processing mining-related income, activities that may be subject to additional rules or licensing requirements in some jurisdictions. Binance has reduced exposure to some higher-risk peripheral activities over the past two years, and ending its pool service is consistent with a broader retreat from certain non-core operations. That alignment does not, by itself, establish the company’s specific motivation.

Developments among other industry participants also illustrate a wider shift in how large computing infrastructure is valued. This year, FTX’s mining infrastructure was transferred to SWI Group, and 1.3 GW of computing capacity is being redirected toward AI computing. The shift suggests that some operators see opportunities in running large-scale AI models alongside, or instead of, Bitcoin mining. Binance Pool’s closure is one development within this larger reassessment of computing resources.

Practical Effects on Miners

For small and medium-sized miners, the immediate task is to select another pool and move their hashrate. Binance Pool offered an integrated experience connecting exchange services, mining, and settlement. Once the service closes, users who valued that arrangement will need to manage those activities through different providers or separate services.

Potential alternatives named in the source include AntPool, F2Pool, and ViaBTC. Miners choosing a replacement should compare practical terms such as supported assets, fees, payout methods, service availability, and the process for monitoring hashrate. They should also check the technical setup required to point mining equipment to a new pool and allow time to test the connection before the cutoff.

Bitcoin mining pools are already concentrated: the five largest pools have long accounted for 50-60% of the network’s hashrate. When Binance Pool exits, its computing power is expected to move to other pools. This could increase concentration in the short term, depending on how miners redistribute their capacity, but the closure is not expected to cause a structural change to the overall operation of the mining industry.

Users of Pool Savings and cloud mining should also treat the closure as a reminder that returns from these products depend on factors such as mining difficulty, electricity costs, and cryptocurrency prices. A platform can decide to discontinue a service, so users should understand product terms, withdrawal processes, and the possibility of operational changes. Computing power and funds should not be regarded as permanently tied to a single provider.

In practical terms, the closure creates several separate tasks: redirect mining equipment before November 10, redeem or cancel eligible Pool Savings subscriptions, review any unpaid rewards or balances, and save historical records before November 24. Each task has a different deadline or process, so users may benefit from handling them separately rather than waiting until the final days.

Key Insights Table

Afterwards...

Binance Pool’s closure reflects a period in which mining businesses are reassessing their costs, regulatory exposure, and use of computing infrastructure. Bitcoin mining will continue to depend on hardware efficiency, electricity access, network difficulty, and the value of mining rewards. Meanwhile, the growth of AI computing is creating another potential destination for large-scale data-center capacity.

Further research can help clarify how mining capacity moves when a major pool exits, whether pool concentration changes over time, and how miners balance operational resilience against the convenience of integrated platforms. Better disclosure about settlement processes and data access during service shutdowns could also help users plan more effectively.

Looking ahead, the central question is how computing resources will be allocated among cryptocurrency networks, AI workloads, and other high-demand applications. Understanding that transition will require continued attention to energy use, infrastructure investment, competition, and regulation. For current Binance Pool users, however, the immediate priorities remain practical: move hashrate before November 10, review balances and subscriptions, and save records before November 24.