Binance to Close Bitcoin (BTC) Pool as Network Hashrate Share Falls Below 1%

Binance will close its Bitcoin (BTC) mining pool on Nov. 10, as the service’s share of total network hashrate has fallen below 1% after a steep decline since year-end 2025.

The pool’s estimated computing power stood at 8.7 exahashes per second (EH/s), or 0.84% of Bitcoin’s network hashrate, on Oct. 15. At the end of 2025, the estimate was 26 EH/s, or 2.3% of the network. That is a drop of about two-thirds. The pool ranked 12th among mining pools on Oct. 15, down from ninth at year-end 2025.

Binance’s shutdown plan sets the cutoff for 2 a.m. ET (07:00 UTC) on Nov. 10. The exchange will disable its mining endpoints and stop accepting, processing or crediting hashrate submissions and mining shares sent after that time. Binance is also ending Pool Savings, Cloud Mining and Transaction Accelerator, plus its hashrate alerts, email notifications and pool API services.

Miners are asked to redirect their equipment before the cutoff. A mining pool coordinates work among multiple miners, who can direct their computing power to another provider. Closing a pool does not itself take those machines off the Bitcoin network. Binance has not named where its remaining miners may go or said how many might stop mining instead of switching providers.

Pool Savings users with active positions are asked to redeem them or unsubscribe before the service ends. Any identity verification required for eligible reward, refund or settlement processing must be completed by 6:59 p.m. ET (23:59 UTC) on Nov. 10. Pool pages are scheduled to remain accessible until 2 a.m. ET (07:00 UTC) on Nov. 24.

Binance cited an ongoing review of its products and services. Binance launched the pool on April 27, 2020, initially offering Bitcoin mining. The company has not given a financial reason for ending the service.