Binance to shut down mining pool in November after six years
Crypto exchange Binance has announced that it will shut down Binance Pool and related services on November 10, 2026. Users have been advised to move their computing power to alternative platforms in advance to avoid disruptions to cryptocurrency mining.
According to the company's October 13 announcement, the shutdown will also affect Pool Savings, Cloud Mining and Transaction Accelerator. The exchange will disable the mining pool's application programming interfaces (APIs) and hashrate notifications.
Binance attributed the decision to a review of its product and service offerings but did not specify why it was exiting the business. The pool had operated since April 2020, initially supporting Bitcoin mining before expanding to other cryptocurrencies.
What happens to miners and accumulated rewards
After November 10, Binance will stop accepting miners' hashrate contributions and recording their mining activity. The accrual of rewards and yields on affected products will also cease.
Pool Savings users have been advised to withdraw their funds early or close active positions. Miners must reconfigure their equipment to connect to alternative pools before the deadline.
The company has pledged to process outstanding payouts, refunds and settlements after the service closes. These transactions will be handled in accordance with the rules of individual products and customer verification requirements.
Access to mining history and payout records will remain available until November 24. After that date, Binance Pool pages will become inaccessible, so users should save any necessary records in advance.
Binance continues to expand other trading services
The closure of Binance Pool will bring the exchange's more than six-year involvement in pooled cryptocurrency mining to an end. The company has not indicated whether it plans to resume similar services in the future.
Despite discontinuing its mining products, Binance continues to operate in other segments of the cryptocurrency market, including trading tools for retail and institutional clients.
In particular, the exchange has reported growing interest among traditional hedge funds in arbitrage strategies involving cryptocurrency instruments. These include products linked to traditional financial markets.
According to Binance, high liquidity, round-the-clock trading and the ability to track price movements over weekends are helping drive this trend. However, participation by traditional hedge funds in such strategies remains at an early stage.
Earlier, we reported that Binance introduced an AI-powered trading interface for English-speaking users. The new tool expanded the ways users can interact with the platform's trading features.
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