Binance disconnects mining: Its pool will close in November

Binance pulls the plug on mining. The platform will close Binance Pool, Pool Savings and Cloud Mining on November 10 at 7 a.m. UTC, or 8 a.m. in Paris. Announced on October 13, this decision puts an end to an activity launched in April 2020. A few months after the closure of the SBI Crypto pool, another large group is leaving this segment of the Bitcoin industry, where competition for rewards remains intense.

The key points of this article:

Binance Pool and its associated services will shut down on November 10, forcing miners to join another pool.

Users must withdraw their Pool Savings positions and back up their data before the pages close on November 24.

This withdrawal follows that of SBI Crypto in July, in a context of pressure on mining revenues.

Binance Pool closes on November 10: users should prepare to leave

The closure also includes Transaction Accelerator, hashrate alerts on Telegram, email notifications and pool APIs. Stratum addresses, used by machines to connect to the service, will be disabled. Any contribution submitted after the deadline will cease to be accepted and remunerated. Binance justifies its decision by a continuous review of its products, without specifying a financial or regulatory reason.

A pool brings together the computing power of several miners to distribute rewards. Machines connected to Binance will therefore have to be redirected to another operator before the deadline to avoid an interruption in their income.

Pool Savings clients are advised to close their positions. Eligible contributions received before the shutdown will count towards the final calculation of rewards. Remaining balances, refunds and payments will then be processed according to the product terms and applicable controls.

Payment history and information will remain accessible for fourteen days, until November 24 at 7 a.m. UTC. After this period, the Binance Pool pages will become permanently inaccessible.

After SBI Crypto, a new withdrawal in mining under pressure

Binance is not the first large group to abandon this activity in 2026. SBI Crypto, a subsidiary of the Japanese financial conglomerate SBI, had scheduled the closure of its pool for July 31, with a disconnection of the machines from the evening of July 30 in UTC.

In its overview published in early 2026, Hashrate Index described Binance Pool as the last survivor of the wave of expansion of exchanges in mining pools. The operator mainly benefited from its integration with Binance's trading, custody and financing services.

These departures come at a time when miners are having to deal with sustained competition. The hashprice, expected revenue per unit of computing power, averaged $39.33 per PH/s per day in September. Despite a recovery since previous months, the increase in difficulty absorbed a large part of the gains brought by the progression of bitcoin. Binance, however, did not establish any link between these conditions and its decision.