Binance to Shut Down Mining Pools and Services on November 10

The crypto exchange will disconnect miners from the pool and stop accepting hashrate data. The shutdown will affect Pool Savings, Cloud Mining, Transaction Accelerator, and related features. Binance urged miners to redirect their computing power to alternative mining pools before the deadline.

At the same time, any unpaid rewards will be processed after the pool is closed. Users will be able to access mining data until November 24, after which the pool pages will become unavailable.

Binance explained the shutdown as part of a review of services, without naming a specific reason. The company launched mining in April 2020, initially supporting BTC and later expanding to other cryptocurrencies. Over the year, Binance Pool mined 2% of BTC blocks, down from a peak of 13% in November 2022.