Cryptoupdated 1h ago2 min read
Binance Shuts Down Binance Pool On November 10 After Hashrate Drops 65%
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Hashrate declined about 65% from 26 EH/s to ~9 EH/s prompting shutdown. Binance Pool accounted for ~2.3% of Bitcoin; closes Nov 10, 2026; miners must migrate.
15 outlets told this the same way.
Binance Pool shuts Nov. 10
Binance will discontinue Binance Pool and related services on November 10, 2026 at 07:00 UTC, and it told miners to switch pools before the cut to avoid interruptions.
Binance Pool had an estimated 26 exahashes per second, or 2.3% of Bitcoin’s network, in December, and Hashrate Index’s latest table put the pool at about 9.2 EH/s, under 1% and ranking 11th.
Binance Pool’s computing power directed at the service fell about 65% from December, and the exchange said it was citing an ongoing review of its products and services without giving a financial explanation.
Binance’s closure notice also set a timeline for users, with Pool Savings users needing to redeem their positions and anyone awaiting a final payout completing required identity checks by 11:59 p.m. UTC on November 10.
CoinDesk added that pool pages would disappear permanently on November 24, giving customers another two weeks to download records and check payout status.
Deadlines and migration steps
Binance told miners that mining actions and the portions of mining sent after this time will no longer be accepted, processed or credited, and it warned that Stratum endpoints would stop accepting connections at the cutoff. FinanceFeeds said Binance Pool, Pool Savings, Cloud Mining, and its Transaction Accelerator would stop on November 10, 2026 at 07:00 UTC, and it said the pool dashboard would then switch to read-only mode. Know Your Customer verifications expire at 23:59 UTC on the same day, and the pool dashboard will allow access to archives until November 24, 2026 at 07:00 UTC.
Cryptonews.net said Binance would stop operating Binance Pool and related mining features on November 10, 2026 at 07:00 UTC, and it said mining connections would be disabled and all shares submitted after the cut would be rejected. Cryptonews.net also said miners must redirect their equipment to another pool before that date to avoid any interruption to their Bitcoin mining activity.
Hashrate concentration and fallout
CoinDesk said the closure could further concentrate block production among Foundry USA, AntPool and F2Pool, which together control about 64% of the network’s computing power. @coindesk said Foundry USA, AntPool and F2Pool together represented about 64.2% in Hashrate Index’s latest table, and it said the three largest pools held 61.4% in December. Koin Bülteni said the hashrate of Binance’s Bitcoin mining pool had fallen by about 65% since December, and it said the pool’s shutdown would come as miners faced fewer service providers to choose from.
Koin Bülteni also said that if all of Binance’s remaining hashrate moves to the three largest pools, their combined share could reach about 65%, assuming the rest of the network stays unchanged. Business AM said Binance Pool had successfully mined 22,188 blocks and generated a total yield of 137,059 BTC, while it also said the Bitcoin network remains resilient despite these notable withdrawals by large companies.