Binance to Shut Down Mining Pool and Related Services on…

Binance has announced that it will permanently discontinue Binance Pool and its associated mining services on November 10, 2026, marking the end of a major part of the cryptocurrency exchange's mining infrastructure business.In an official notice published on October 13, Binance confirmed that the closure will take effect at 07:00 UTC on November 10, affecting mining pool connections, cloud mining products, savings services and transaction acceleration tools.The shutdown also covers supporting features, including Telegram hashrate alerts, email notifications and mining pool application programming interfaces. Binance attributed the decision to its ongoing review of products and services but did not provide a specific commercial, financial or regulatory explanation.The announcement does not indicate that Binance's cryptocurrency exchange, spot trading or other unrelated services will be discontinued. For miners, the immediate priority is transferring their computing power to alternative pools before the cutoff to avoid interruptions in reward generation.

Mining Connections and Rewards End November 10

Binance said all mining connections will begin disconnecting at 07:00 UTC on November 10. Its Stratum URLs and mining endpoints will be disabled, preventing connected mining equipment from submitting additional work.Hashrate contributions and mining shares submitted after the deadline will no longer be accepted, processed or credited.Mining shares submitted before the cutoff will remain eligible for final reward calculations under the platform's existing terms.The closure also ends Binance Pool Savings, which allows eligible users to earn returns on mining-related balances, and Cloud Mining, which provides exposure to contracted computing power without requiring customers to operate physical mining equipment.Binance's Transaction Accelerator service, designed to help users prioritize Bitcoin transactions, will also become unavailable. No additional mining rewards, savings yields or related service benefits will accrue after the shutdown. Customers with active Pool Savings positions have been instructed to unsubscribe or redeem their holdings before the service ends.The company has also advised miners to reconfigure their equipment to connect to alternative mining pools rather than waiting for automatic disconnection.

Outstanding Balances and Final Settlement Arrangements

Binance said eligible outstanding rewards, account balances, refunds and settlements will continue to be processed after November 10. However, payments will remain subject to the relevant product terms, account status, risk controls, compliance checks and applicable laws.Customers must ensure their accounts can receive any outstanding distributions, including completing identity verification where required. Binance has set 23:59 UTC on November 10 as the deadline for completing necessary account requirements to facilitate timely processing.The exchange will remove Binance Pool links from its homepage on the shutdown date. Users will retain limited access to historical mining records, transaction information and payout status for another 14 days. Those pages will become permanently inaccessible at 07:00 UTC on November 24, making it important for customers to download relevant records beforehand.The closure represents a significant change for Binance's mining-related business, which previously provided services connecting cryptocurrency miners with pooled computing resources. Mining pools aggregate participants' computing power and distribute rewards according to contributed work, helping individual miners receive more consistent payouts than they might obtain independently.Binance's departure could prompt participating miners to redistribute their hashrate among competing operators.However, the company has not disclosed the amount of computing power currently connected to its pool or the number of customers affected. Consequently, the shutdown's impact on mining-pool concentration cannot yet be quantified.The decision also does not directly change Bitcoin's mining rules or block-production process. Instead, it removes one intermediary through which miners coordinate their activity and receive rewards. November 10 is the operational deadline, while November 24 marks the final cutoff for accessing historical Binance Pool records.The announcement leaves open whether Binance intends to replace any discontinued mining products with alternative services in the future.