Binance to shut down its crypto mining pool on Nov. 10

Binance has announced that it will permanently shut down Binance Pool and its related cryptocurrency mining services on November 10, 2026, at 07:00 UTC, ending support for mining connections, reward generation and several associated products.

Binance confirmed the decision in an October 13 announcement, saying the closure follows its ongoing review of products and services. The affected offerings include Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator, mining APIs and automated hashrate notifications. Users have been instructed to move their mining equipment to other pools before the cutoff to prevent interruptions.

Binance Pool shutdown will end mining rewards on November 10

Beginning at 07:00 UTC on November 10, Binance will disconnect mining equipment from its pool and disable the Stratum addresses and mining endpoints used to submit computing power. The exchange said any mining shares or hashrate submitted after the deadline would no longer be accepted, processed or credited toward mining rewards.

The shutdown covers services linked to Binance Pool, including Pool Savings accounts, Cloud Mining products and Transaction Accelerator. Telegram hashrate alerts, email notifications and mining pool API access will stop working at the same time. Binance said the affected products would no longer generate new rewards, yield or service benefits after the closure.

Until the cutoff, the mining pool is expected to continue operating under normal conditions. Binance confirmed that eligible mining shares submitted before 07:00 UTC on November 10 would remain part of the final reward calculation, subject to the platform’s existing mining rules.

For miners contributing computing power through Binance Pool, the company has instructed users to disconnect their equipment and update their mining configurations before the scheduled closure. Mining machines using Binance’s existing Stratum addresses will need to connect to another pool to continue submitting work after the service ends.

The announcement did not identify a replacement mining provider or disclose how much computing power is currently connected to Binance Pool. Binance has not provided a separate explanation for closing the mining business beyond its regular product and service review. The company made no announcement about discontinuing its main cryptocurrency exchange operations.

Binance gives miners deadlines to move funds and settle accounts

With the closure approaching, Binance has instructed customers holding active Pool Savings positions to review their accounts and complete any required redemptions or cancellations before November 10. Users with outstanding mining rewards, refunds or other balances have been advised to ensure their Binance accounts can receive the remaining payments.

According to the official notice, eligible unsettled rewards and refunds will continue to be processed after 07:00 UTC on November 10. The exchange said payment eligibility would depend on the relevant product terms, account status, risk controls, compliance reviews and applicable laws. Its announcement did not guarantee immediate payment of all outstanding balances.

Account verification forms another part of the withdrawal and settlement process. Binance has instructed users who need to complete identity verification or other account requirements to finish the necessary steps by 23:59 UTC on November 10. The exchange said meeting that deadline would help facilitate the timely processing of eligible payments.

Customers have been encouraged to save their mining records, transaction reports and relevant account history before the platform’s historical pages become unavailable. Binance will remove links to Binance Pool from its homepage on November 10, although customers will temporarily retain access to certain historical information.

The remaining Binance Pool pages will stay accessible for 14 days, until November 24 at 07:00 UTC. During that period, users can review historical mining data, account records and payout status where available. After the deadline, Binance plans to permanently close those pages, ending access to the information through the existing interface.

Binance Pool closure ends a service launched in 2020

Binance introduced its cryptocurrency mining pool in April 2020, initially offering Bitcoin mining services to customers contributing computing power to the network. The platform connected mining rewards with other Binance products, including spot trading, futures and financial services available through the exchange.

At launch, the company offered promotional mining fees intended to attract users to the service. Its early operations focused on Bitcoin, while subsequent product releases expanded the range of mining-related tools available to customers.

In October 2022, Binance Pool introduced a $500 million lending initiative targeting Bitcoin miners and digital asset infrastructure companies. The program was designed to provide financing to eligible mining businesses, including operators managing large mining facilities. The October 2026 closure notice does not specifically address the status of loans issued through that earlier program.

The exchange continued developing mining services in the following years. In August 2023, it introduced Bitcoin Ordinals inscription services, allowing eligible customers to attach information to individual satoshis through the Bitcoin network.

In November 2024, Binance Pool began supporting Fractal Bitcoin merged mining, enabling participating Bitcoin miners to receive Fractal Bitcoin rewards through compatible mining activity. The launch required users to provide external wallets for the additional rewards, and Binance said the mining support did not constitute a commitment to list the FB token.

More recently, the service remained active through product-specific changes. In September 2026, Binance announced that its mining pool would end support for USDP as part of a separate stablecoin delisting schedule. The exchange set September 16 as the deadline for Pool-related USDP support and September 17 for the final earnings settlement associated with that change.

Bitcoin mining pools continue adopting new technology

The Binance Pool closure comes during a year when several major Bitcoin mining operators have been working on updates to the technology connecting miners with pools. In May 2026, Foundry, AntPool, F2Pool, SpiderPool, MARA Pool, Block Inc. and DMND joined the Stratum V2 working group.

The initiative brought together seven mining operators representing approximately 75% of Bitcoin’s network hashrate at the time of the announcement. The working group supports improvements to how mining pools communicate with participating miners and how block templates can be created.

The Stratum V2 mining initiative gives individual miners more control over transaction selection and block construction through compatible software. Participating operators have supported efforts to reduce reliance on pool operators for certain decisions involved in assembling Bitcoin blocks.

Binance has not attributed its mining pool closure to Stratum V2, changing network conditions or competition from other mining businesses. Its October 13 notice identifies an ongoing product review as the reason for discontinuing the service, without providing financial results for Binance Pool.

For customers seeking assistance with remaining balances, the exchange has directed users to Binance Customer Support and its Help Center. The company said the original English announcement should take precedence if translated versions contain conflicting information about account requirements, settlements or closure deadlines.