Binance closes its Bitcoin mining pool after six years of activity
Binance disconnected miners from its pool on Tuesday and ended its computing power rental and savings offers linked to the service. The pool had only found one Bitcoin block in a week as it closed.
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https://cryptoast.fr/binance-ferme-pool-minage-bitcoin-10-november/
Binance closed its collective mining service this Tuesday morning. Launched in April 2020 for Bitcoin, Binance Pool allowed miners to pool their computing power to find blocks more often and share the rewards. Since the closure, work submitted to the pool is no longer taken into account.
The platform is also putting an end to its associated services: cloud mining, which made it possible to rent computing power without owning a machine, the Pool Savings savings offer and the Transaction Accelerator, designed to speed up the confirmation of Bitcoin transactions. Alerts and the pool API are also disabled.
Binance places this decision as part of a review of its services. Rewards due for work performed before the shutdown will be processed after the shutdown, subject to department rules and compliance checks. Users will be able to view their payment history and status until November 24.
Over the seven days observed by CoinDesk before the shutdown, Binance Pool found only one block of the approximately 925 produced by the Bitcoin network, or 0.11% of the total. This last block, number 974,743, was mined on November 6 at 1:15 a.m. UTC. It contained 1,353 transactions and yielded approximately 3,134 BTC including fees.
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The decline had begun several months before the closure was announced. According to CoinDesk, the hashrate, which measures the computing power of the pool, fell from around 26 exahashes per second in December 2025 to 9.2 in October 2026, a drop of 65%. Block discovery also depends on chance. The assessment of a single week therefore gives an approximate indication of the power remaining in the pool.
Miners can redirect their machines to another pool without shutting them down. Binance had asked them to do this before the shutdown to avoid disruption. Some of this computing power could join Foundry USA, AntPool or F2Pool, which are already among the main pools on the Bitcoin network.
In 2023, another exchange, KuCoin, had already suspended its Bitcoin and Litecoin mining pools.
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