Binance Pool nears shutdown as bitcoin block share dwindles
Binance's bitcoin mining pool is operating at a fraction of its former scale as its planned closure approaches on November 10. The exchange's once notable mining business has produced only one Bitcoin block in the past week, highlighting a sharp loss of network share ahead of the shutdown.
Highlights
- Binance Pool found only one out of approximately 925 Bitcoin blocks in the past week, representing about 0.11% of network production.
- Binance Pool will terminate block rewards, cloud mining, pool savings, and its transaction accelerator at 07:00 UTC on November 10.
- Binance Pool's computing power dropped from 26 EH/s in December 2025 to 9.2 EH/s in October, a 65% decrease, benefiting rivals like Foundry USA, AntPool, and F2Pool.
Block production drops before November 10 closure
As reported by CoinDesk, data from mempool.space shows Binance Pool found one out of about 925 Bitcoin blocks during the past seven days, equal to roughly 0.11% of network production.In the latest 24 hours, the pool has found no blocks. Its most recent identified block was 974743, mined at 01:15 UTC on November 6, containing 1,353 transactions and paying about 3.134 BTC in rewards, including transaction fees.
Binance said in an October announcement that it would disconnect miners at 07:00 UTC on Tuesday, ending block-reward services, cloud mining, pool savings and its transaction accelerator. The mining pool launched in April 2020.
Rivals may gain miners and market share
The contraction has been developing for months. Binance Pool's computing power fell from about 26 exahashes per second in December 2025 to around 9.2 EH/s in October, a decline of roughly 65%, based on data assessed by CoinDesk.Because miners can redirect computing power to other pools without shutting down their machines, Binance's exit may lift block shares for larger competitors. Foundry USA, AntPool and F2Pool already account for a substantial portion of Bitcoin block production and stand to absorb miners leaving Binance Pool.
In our earlier article on Q3 2026 cybersecurity funding trends, we noted that total investment jumped to $6.8 billion largely because late-stage round sizes grew even as the number of deals fell. We also highlighted how AI-focused and identity security companies captured a disproportionate share of capital, while big-ticket M&A signaled ongoing consolidation across the sector.
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