Binance will discontinue its Bitcoin mining pool and several connected services at 07:00 UTC on Nov. 10, ending a six-year presence in a segment once targeted by major cryptocurrency exchanges. The shutdown affects miners using Binance Pool as well as customers holding positions in related products.
What Binance is closing
The exchange said Binance Pool, Pool Savings, Cloud Mining and Transaction Accelerator will all be discontinued. The closure also includes the pool’s application programming interface, Telegram hashrate alerts and email notifications.
Binance Pool is a mining pool: a service that combines the computing power of many separate miners. When the pool helps produce a Bitcoin block, the reward is divided among participating miners according to the work their machines contributed. This model gives miners a way to receive more regular rewards than operating alone, although the size and timing of payments depend on the pool’s rules and the mining results.
Cloud Mining offered access to mining capacity without requiring users to own and operate physical mining equipment. Transaction Accelerator was designed to help users deal with Bitcoin transactions that were slow to confirm, including during periods when fees were low relative to demand or the network was congested.
The service began operating in April 2020. According to data cited in the original reporting by Decrypt, Binance Pool ranked ninth among Bitcoin mining pools at the end of 2025, with roughly 26 exahashes per second, equivalent to about 2.3% of the Bitcoin network. An exahash per second represents one quintillion calculations every second in the search for the solution used to earn a block reward.
What miners and customers must do
Binance said the pool will continue operating normally until the cutoff. At 07:00 UTC on Nov. 10, it will begin disconnecting mining connections, while the Stratum URLs and mining endpoints used by mining equipment to connect to the service will be disabled.
After that point, new hashrate submissions and mining shares will no longer be accepted, processed or credited. Mining shares are records of the work contributed by a machine and are used to calculate a participant’s eventual payment. Shares submitted before the deadline will count toward final rewards under Binance’s applicable rules.
Miners using Binance Pool need to direct their equipment to another mining pool before the shutdown. Users of Pool Savings must unsubscribe or redeem their positions before the service ends. Binance said eligible unpaid rewards, remaining balances and refunds will be handled afterward, subject to product rules, account status and compliance checks.
Customers expecting a final payment have until 23:59 UTC on Nov. 10 to complete any required identity verification. Binance Pool pages will remain available for viewing until 07:00 UTC on Nov. 24, after which they will become permanently inaccessible.
Part of a broader product reset
The closure removes one of the last surviving examples of the mining-pool expansion that large cryptocurrency exchanges pursued several years ago. Decrypt reported that Binance Pool’s importance was connected not only to mining itself but also to Binance’s wider exchange and custody operations.
The decision comes as Binance develops services closer to traditional financial markets. On June 1, the exchange opened access for customers outside the United States to more than 7,000 U.S. stocks and exchange-traded funds, offering commission-free trading and fractional purchases starting at $5, according to co-CEO Richard Teng. Binance also previewed bStocks, a planned feature for minting tokenized versions of purchased shares on the BNB blockchain.
The stock offering involves several parties: Binance acts as the user-facing platform, Nest Trading as the broker-dealer and Alpaca Securities as the custodian, according to comments cited by Decrypt. The move reflects the broader expansion of crypto platforms into products linked to traditional finance, although the shutdown announcement itself did not state that the two developments were directly connected.
Binance also ended its centralized NFT service on July 3 and instructed users to move their tokens to Binance Wallet, its self-custody wallet. That decision followed the company’s earlier description of retiring older products as a “smooth sunsetting.”
Current market picture
Moneyiar market data at 20:39 Tehran time on Oct. 13, 2026, showed Bitcoin at $83172.890940729, up 0.23% over 24 hours but down 2.89% over seven days. BNB was priced at $741.3047413687, down 0.73% in 24 hours and 4.87% over seven days.
Other tracked assets were also lower: Astar stood at $0.0065106938, down 3.39% over 24 hours and 13.03% over seven days, while Ontology traded at $0.0542215663, down 6.49% and 10.24% over those periods, respectively. These figures are Moneyiar data at the stated time and describe market prices and performance, not the effect of Binance’s mining-pool announcement.
