Binance said in its closure notice that Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator and related services will end at 07:00 UTC on November 10, 2026. The company described the decision as part of an ongoing review of its products and services.
The shutdown gives miners roughly four weeks to redirect their equipment. Binance will stop crediting mining shares at the November 10 deadline. Users of Pool Savings must redeem their positions, while customers waiting for final payouts must complete the required identity checks by the same time. Binance plans to remove the pool pages on November 24, giving customers an additional two weeks to download records and check payout status.
The closure follows a sharp decline in the pool’s computing power. CoinDesk reported that Binance Pool’s hashrate fell from approximately 26 exahashes per second in December to about 9.2 EH/s, reducing its estimated share of Bitcoin’s network from roughly 2.3% to below 1%.
The latest figures are lower still. Hashrate Index’s pool leaderboard lists Binance Pool at about 8.2 EH/s and a 0.75% market share, placing it 11th among listed operators. Foundry USA, AntPool and F2Pool remain the three largest pools.
That shift matters because a mining pool determines which transactions participating miners generally attempt to include in blocks. The miners retain control of their hardware and can move to another pool, so a pool’s market share does not mean that operator owns the underlying machines. However, the movement of miners between pools can alter transaction selection, operational resilience and the distribution of influence over block production.
CoinDesk reported that the three largest pools accounted for about 64.2% of Bitcoin’s computing power in the latest data, compared with 61.4% in December. If Binance’s remaining hashrate moves entirely to those operators, their combined share could approach 65%, assuming other network conditions remain unchanged.
That possibility has drawn a sharper warning from critics. PANews contributor Heart of Hashrate argued that Binance’s departure exposes a structural centralization problem, with Bitcoin’s infrastructure increasingly dependent on a small number of commercial mining pools. From that perspective, the issue is not simply that one business is closing. It is that unsuccessful operators are leaving while the largest pools become more important destinations for displaced capacity.
The concentration argument does not establish that Bitcoin is facing an immediate security failure. Miners can switch providers, and new pools could attract capital if the economics improve. Yet greater dependence on a few pool coordinators could create more significant risks if those firms experience outages, face regulatory pressure or apply similar policies to transaction selection.
HashFirstGlobal reported that the eventual effects on network security, fee markets and pool concentration will depend on where Binance’s displaced hashrate moves. That destination will reveal more than the closure itself about the current economics of mining.
Binance’s exit also continues a broader retreat by exchange-linked operators. SBI Crypto left the market in July, while OKX ended its mining pool operations in February 2024. Together, the departures suggest that running a pool alongside exchange and financial services may no longer justify the required infrastructure, customer support and capital commitment.
For miners, the immediate question is where to send machines next. For Bitcoin, the larger question is whether consolidation is becoming a durable feature of block production rather than a temporary response to changing mining economics.
- coindesk.com · Link preview (og:image)
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