Bitcoin
Binance to Shut Down Crypto Mining Pool and Related Services in November
The exchange operator will end its mining pool operations on November 10, giving users two weeks to transfer hardware and download records.
Binance announced on October 13 that it will cease operations for Binance Pool, Pool Savings, and its Cloud Mining services on November 10 at 07:00 UTC. The decision concludes an operation originally established in April 2020 and follows a similar withdrawal by SBI Crypto in July amid sustained margin compression across the mining sector.
The shutdown will deactivate Stratum connection addresses, Transaction Accelerator tools, API access, and automated notification services. Computing power submitted after the deadline will not be processed or credited. Binance attributed the closure to standard product reviews, without citing specific financial or regulatory factors.
Miners currently pointing hash rate to the platform must redirect their equipment to alternate operators to prevent revenue disruption. Binance stated that remaining Pool Savings balances and settlements will be finalized according to product terms, with account history pages remaining accessible for download until November 24 at 07:00 UTC.
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