Binance to Shut Down Crypto Mining Pool Services on November 10

Binance, the world's largest cryptocurrency exchange, announced Tuesday that it will permanently discontinue Binance Pool and several related crypto mining services on November 10, 2026, as part of an ongoing review of its product offerings.

The shutdown will affect Binance Pool, Pool Savings, Cloud Mining, and the Transaction Accelerator. Additional features, including Telegram hashrate alerts, email notifications, and mining pool APIs, will also be terminated.

According to Binance, the shutdown process will begin with the disabling of mining pool Stratum URLs and mining endpoints. Starting at 7:00 UTC on November 10, the platform will stop accepting, processing, and crediting new hashrate submissions and mining shares.

Users will no longer earn mining rewards, interest, or other service benefits after the cutoff. However, Binance will begin processing outstanding rewards, account balances, refunds, and settlements after 7:00 UTC on November 11.

The exchange emphasized that final payments will depend on product terms, account eligibility, compliance requirements, risk controls, and applicable regulations.

Binance Pool users will retain access to historical mining records, account information, and payout details until 7:00 UTC on November 24. After that deadline, access to the platform's mining services and records will be permanently removed.

To avoid disruptions, Binance advised miners to disconnect their equipment and switch to alternative Bitcoin mining pools before November 10. Customers holding Pool Savings positions should also redeem or unsubscribe from their investments and complete any necessary identity verification.

Binance attributed the decision to its regular evaluation of products and services, without identifying profitability concerns, regulatory developments, or cryptocurrency market conditions as contributing factors.

The closure will affect mining activities involving Bitcoin (BTC), Zcash (ZEC), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), and Kaspa (KAS).

Current figures indicate approximately 1.35 million active Bitcoin mining workers and 1,509 Zcash workers connected to Binance Pool.

MiningPoolStats data shows Binance Pool contributes nearly 65 exahashes per second (EH/s), representing roughly 7% to 8% of Bitcoin's estimated global network hashrate of 968 EH/s.

Although the shutdown represents a significant change for participating miners, its broader impact on Bitcoin network security and BTC prices is expected to remain limited as mining activity shifts to competing pools.