One of the world’s largest cryptocurrency exchanges has announced a surprising move. After more than six years, Binance will cease operations of its mining pool, which allowed miners to combine computing power and earn regular Bitcoin rewards. The decision comes at a time when the service’s computing power has fallen by approximately 65 percent. Miners now need to find an alternative. What does this mean for Bitcoin and its investors?
Cryptocurrency exchange Binance has decided to discontinue one of its long-running services. From November 10, 2026, Binance Pool, a platform through which cryptocurrency miners could pool their computing power and jointly earn rewards for confirming transactions, will cease to operate.
According to Binance’s official announcement, the discontinuation will also affect related products, including cloud mining, Pool Savings, and the Bitcoin transaction accelerator tool.
However, the cryptocurrency exchange itself continues its operations. The decision concerns mining services, not regular trading or holding cryptocurrencies on the platform.
Article Contents:
Binance Pool’s Computing Power Dropped by 65 Percent
Binance entered the cryptocurrency mining industry in April 2020. Its mining pool allowed individual operators of specialized computers to combine computing power and increase the probability of regularly earning rewards.
The service gradually established itself as a significant player in the market. However, its position has weakened considerably in recent months.
According to data from Hashrate Index, highlighted by CoinDesk, Binance Pool’s computing power reached approximately 26 exahashes per second (EH/s) in December 2025. At that time, the platform accounted for roughly 2.3 percent of the total Bitcoin network’s power.
Currently, however, the power is around 9.2 EH/s, which corresponds to less than one percent of the global mining capacity. This represents a decrease of approximately 65 percent compared to last December.
For context, hashrate represents the amount of computational operations that miners perform when searching for new Bitcoin blocks. The higher it is, the greater the computing capacity involved in mining.
However, the decline in Binance Pool’s power does not automatically mean that the same amount of mining power has disappeared from the entire Bitcoin network. Some miners may have simply switched to competing operators.
Binance has not disclosed specific economic reasons for discontinuing the service. It justified the decision by continuously re-evaluating its product portfolio. Therefore, it cannot be said with certainty that the service’s termination is solely due to a decline in its market share.
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Miners Have Until November 10. Then Binance Will Shut Down the Service
Operators of mining equipment using Binance Pool will have to change providers in the coming weeks.
The service will be definitively shut down on November 10 at 8:00 AM Central European Time. Binance will then disconnect mining equipment and stop receiving data on their computing power. Work submitted after this deadline will no longer be counted towards rewards.
Users should also close their active positions in the Pool Savings service and check for any unpaid rewards. According to its announcement, Binance will settle these in accordance with the terms of the individual products.
Mining history, reward records, and other data will remain available only until November 24. After that, the relevant pages are to be permanently removed.
For miners, this is not just an administrative change. If they do not redirect their machines to another pool in time, they may experience a loss of income, even though their equipment will continue to consume electricity.
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Bitcoin Mining Controlled by a Decreasing Number of Large Players
The discontinuation of Binance Pool also opens up a broader question about the future of the mining industry. Bitcoin was designed from the outset as a decentralized network, where a large number of independent participants could contribute to confirming transactions. In practice, however, a significant portion of mining power is concentrated in a few large pools.
According to current data described by CoinDesk, the trio of Foundry USA, AntPool, and F2Pool accounts for approximately 64.2 percent of the total computing power of the Bitcoin network.
If some miners leaving Binance Pool move to these operators, the concentration of mining power could increase further. This is particularly important from a decentralization perspective. Pool operators have significant influence over the compilation of new blocks and the selection of transactions included within them. Greater concentration can therefore increase the network’s reliance on the decisions of a limited number of providers.
On the other hand, a pool’s share of the hashrate does not mean that the operator owns all connected mining equipment. Individual miners can redirect their power elsewhere, which provides an important counterbalance to potential concentration.
Binance is not the first company to decide to exit this sector. Cryptocurrency exchange OKX ceased its mining services back in 2024, and SBI Crypto’s pool also shut down this July.
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What Does the End of Binance Pool Mean for Bitcoin’s Price?
For ordinary investors, the most important question is whether Binance’s decision could negatively affect Bitcoin’s value. However, the mere discontinuation of one mining pool does not automatically imply a drop in the cryptocurrency’s price. Binance Pool represents a method of organizing mining, not the Bitcoin network itself.
If miners move their machines to other providers, the network’s total computing power can remain virtually unchanged. Bitcoin will thus continue to confirm transactions and create new blocks.
From a long-term perspective, however, it is important to monitor the economics of mining. Miners must continuously finance equipment operation, electricity consumption, and technology upgrades. Their revenues depend mainly on the price of Bitcoin, mining difficulty, transaction fees, and operational efficiency.
If economic conditions worsen, less efficient operators may shut down their machines or seek other business activities.
Binance’s decision could thus be another signal of the cryptocurrency industry’s transformation. While Bitcoin itself continues to function regardless of individual companies, the business surrounding its mining is undergoing increasingly fierce competition.
For investors, therefore, it is more important than the mere end of Binance Pool to monitor where the remaining mining power will shift and whether the Bitcoin network will remain sufficiently decentralized.
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