Binance, the world’s largest cryptocurrency exchange by trading volume, will close its Bitcoin mining operation after more than six years. Binance Pool and its related services are due to be discontinued on 10 November 2026.
The company announced the decision in a formal notice issued on 12 October, but did not explain why it was ending the mining business.
“As part of our ongoing review of products and services, Binance will discontinue Binance Pool and related services on 2026-11-10,” the notice said.
Users have been given instructions on how to claim any remaining eligible mining shares and disconnect their equipment from the pool.
Binance Pool is still operating and was directing 19.7 exahash per second (EH/s) towards the Bitcoin network at the time of publication. It had mined about three blocks in the previous 24 hours.
According to statistics from mempool.space, Binance Pool had mined 22,188 blocks and was the ninth-largest mining pool by hashrate as of Tuesday. It began operating in Bitcoin mining on 24 April 2020, at block height 627474.
Since then, the pool has generated 137,059 BTC in mining rewards. That amount was worth about $11.4bn at Bitcoin’s recent price of approximately $83,400.
Binance follows other mining operators out of the sector
Binance is not the only mining business to leave the industry in 2026.
Japan’s SBI Holdings previously ran SBI Crypto Pool, but announced on 2 July 2026 that it would wind down the operation.
Poolin faced a separate financial crisis. Bitcoin mining pool Poolin Technology and its US affiliates filed for Chapter 11 bankruptcy protection on 22 July 2026 in the US Bankruptcy Court for the District of New Jersey.
The closures come as mining revenues remain limited and a number of physical mining operations move towards supplying power for artificial intelligence (AI) services.
The three cases have received significant attention, although other smaller or less prominent pools may also have stopped operating without widespread coverage.
Despite the departures, miningpoolstats data indicates that 127 entities are still providing computing power to the Bitcoin network. The figure includes a considerable number of solo miners.
