Binance Pool’s Final Countdown Forces Miners to Act…

Binance will shut down Binance Pool, Pool Savings, Cloud Mining, and its Transaction Accelerator at 07:00 UTC on 10 November 2026, the exchange announced on 13 October. Stratum endpoints will stop accepting connections at the cutoff, and any hashrate directed to Binance Pool after that time earns nothing. The closure ends a six-year run that began when Binance launched its mining pool in April 2020.

The Dates and What Stops Working

The shutdown notice sets three deadlines miners must track. At 07:00 UTC on 10 November, all mining operations will cease: Stratum addresses will go offline, hashrate alerts will stop, the pool's API will shut down, and Telegram notifications will end.Work submitted before the cutoff will count toward final payouts under the applicable pool rules. Binance says eligible outstanding rewards, balances, refunds, or settlements will be processed after the cutoff, subject to product rules, account status, and compliance checks. At 23:59 UTC on the same day, the deadline for pending Know Your Customer (KYC) checks expires.The pool dashboard then enters a read-only window, giving miners access to historical records until 24 November 2026 at 07:00 UTC, when it goes offline permanently. Binance described the decision as part of its ongoing review of products and services but gave no further explanation.

What Miners Must Do Before 10 November

Miners running equipment pointed at Binance Pool need to redirect their Stratum endpoints to a new pool before the cutoff. Any miner still configured for Binance's addresses after 07:00 UTC on 10 November will hash into a void. Pool Savings users should withdraw their funds before shutdown, and all miners should download earnings records and payout histories before the 24 November dashboard expiry. Binance did not recommend a specific alternative pool.Cloud Mining contract holders face a different problem. Those contracts will terminate automatically at shutdown. Binance has stated that eligible outstanding rewards, balances, refunds, or settlements will be processed after the cutoff, subject to applicable product rules, account status, and compliance checks.However, the announcement does not provide detailed refund terms or a specific migration process for contracts that have not reached their natural expiry. Miners should review the official Binance shutdown announcement for the available settlement information.

Where the Hashrate is Expected to Go

Binance Pool held roughly 2.3% of Bitcoin's total hashrate, or about 26 exahashes per second (EH/s), according to Hashrate Index data from late 2025. More recent 2026 estimates put Binance Pool closer to 22 EH/s, or approximately 2% of the network's hashrate. The late-2025 figures should therefore be treated as historical rather than current estimates.Foundry, AntPool, and ViaBTC control substantial shares of Bitcoin's hashrate, at approximately 30%, 18%, and 13%, respectively, and could attract some of Binance Pool's displaced miners. Binance Pool follows SBI Crypto, which closed its mining pool in July 2026.SBI Crypto, which accounted for approximately 20.9 EH/s, or 2.2% of Bitcoin's hashrate based on the seven-day average reported on 30 June 2026, closed its mining pool at 22:00 UTC on 30 July, corresponding to 07:00 JST on 31 July. SBI directed customers toward alternative mining pools, including Braiins, Luxor, and NeoPool.Binance Pool's planned closure will also redirect its participating miners toward other operators. These closures may change the distribution of mining activity, but they do not automatically remove the associated hashrate from the Bitcoin network.

What It Says About Exchange-Run Pools

Exchange-run mining pools have been losing relevance as dedicated operators like Foundry and ViaBTC invest in firmware partnerships, hosting deals, and payout innovations that exchanges cannot justify as side businesses. Binance had already signalled a shift by blocking Brazilian users from Binance Pool and seven other products from 27 October, as part of a migration to local entities.Miners should watch for migration guides from Foundry, AntPool, and ViaBTC, which are likely to run promotional fee windows to capture displaced hashrate. The 24 November dashboard shutdown is the hard deadline for tax documentation, and any miner who misses it will lose access to Binance Pool's historical payout records permanently.