Binance will shut down its Bitcoin mining pool and a suite of related services on November 10, marking the end of a six‑year operation that once ranked among the world’s largest exchange‑run mining pools.
Announced on October 13, Binance gives miners just 28 days to redirect their hashrate to alternative pools before disconnecting all mining endpoints at 07:00 UTC on the cutoff date.
Binance’s ongoing review of its product portfolio demonstrates a strategic shift as the exchange expands into traditional finance and tokenized‑asset offerings.
A Full Shutdown of Binance Pool
Binance’s announcement confirms a complete wind‑down of Binance Pool, not a partial reduction or restructuring.
All mining‑related services will cease, including Pool Savings, Cloud Mining, the Transaction Accelerator, mining pool APIs, Telegram hashrate alerts, and email notifications.
At exactly 07:00 UTC on November 10, Binance will begin disconnecting mining connections and disabling its Stratum URLs and other endpoints. Any hashrate submitted after that moment will not be accepted, processed, or credited.
The shutdown also includes the removal of Binance Pool links from the exchange’s homepage on the same day.
While mining operations will stop immediately, Binance will keep the Pool webpage accessible until November 24, allowing users to view historical data, payout records, and account information before the page goes offline permanently.
What Miners Must Do Before November 10
Miners currently directing their hardware to Binance Pool must switch to another mining pool before the cutoff to avoid losing rewards. Any machine still pointed at Binance Pool after 07:00 UTC on November 10 will effectively be “mining into a void,” as shares will no longer be credited.
Binance has urged users to reconfigure their mining endpoints, unsubscribe from Pool Savings positions, and ensure their accounts can receive any remaining payouts.
Users with active Pool Savings positions must redeem or unsubscribe before the shutdown. Binance also advises miners to complete identity verification by 23:59 UTC on November 10 to ensure eligibility for any outstanding rewards or settlements.
Binance has clarified that eligible mining shares submitted before the cutoff will still be included in final reward calculations under existing rules.
Outstanding rewards, balances, refunds, and settlements may be processed after services end, but payouts remain subject to product terms, account status, compliance checks, and risk controls.
The exchange has not provided a universal payment date or guaranteed that all balances will be paid immediately.
This setup mirrors Binance’s handling of previous service wind‑downs, where historical data remained accessible for a limited time and payouts were processed gradually. The two‑week window until November 24 gives miners time to download transaction histories and payout records before the Pool pages disappear permanently.
Rationale Behind the Shutdown
Binance states that the closure is part of its “ongoing review of products and services,” but has not provided a specific reason for discontinuing the mining pool.
The decision ends an operation launched in April 2020 that grew to become the ninth‑largest Bitcoin mining pool by late 2025, contributing roughly 26 exahashes per second, about 2.3% of the global network hashrate.
Industry analysts note that Binance Pool was the last major mining pool operated by a global crypto exchange, a remnant of a period when exchanges aggressively expanded into mining to diversify revenue streams. As market conditions evolved, many exchanges exited mining to focus on core trading, custody, and financial‑product offerings.
Binance’s recent strategic moves support this interpretation. The exchange has expanded into traditional finance, offering access to more than 7,000 U.S. stocks and exchange-traded funds (ETFs) for non‑U.S. customers with zero‑commission trading and fractional share purchases.
It also previewed “bStocks,” a tokenized‑equities feature that will allow users to mint blockchain‑based versions of the shares they buy. These initiatives suggest Binance is shifting toward broader financial‑market integration rather than maintaining legacy mining operations.
