Binance will shut down its mining pool and associated services on Nov. 10, ending an operation that began in April 2020. The exchange is asking miners and users with savings positions to take action before access and service deadlines.
What Binance is closing
The shutdown covers Binance Pool as well as Pool Savings, Cloud Mining and Transaction Accelerator. Binance will also discontinue related functions, including mining pool application programming interfaces and hashrate notifications.
After Nov. 10, Binance said it will disable its mining endpoints and disconnect miners from the pool. It will no longer accept hashrate submissions or credit mining shares received after the cutoff. The affected products will also stop generating rewards and yields.
Mining pools combine the computing power of multiple participants. In return, miners generally receive rewards based on their contributed hashrate and the pool’s applicable rules. Hashrate refers to the computing power used to perform the calculations required by proof-of-work cryptocurrency networks.
Deadlines for miners and users
Binance urged miners to redirect their computing power to other mining pools before the closure to avoid interruptions. Users holding active Pool Savings positions were advised to redeem or unsubscribe before the shutdown.
The exchange said eligible outstanding rewards, balances, refunds and settlements would be processed after the service ends. Those payments will remain subject to the rules of the relevant products and to compliance checks.
Users will have until Nov. 24 to review historical mining records and payout information. After that date, Binance said the pool’s pages will become permanently inaccessible.
Six years after launch
Binance launched its mining pool in April 2020, initially supporting Bitcoin mining before expanding to other cryptocurrencies. The closure brings the service to an end after more than six years of operation.
Binance attributed the decision to an ongoing review of its products and services but did not disclose a specific reason. Cointelegraph reported the announcement and said it contacted Binance for additional information without receiving an immediate response.
The decision affects more than a single mining interface because it includes connected savings, cloud-mining and acceleration features. Miners therefore face a transition deadline, while other users need to check whether they have balances, positions or records linked to the discontinued products.
Current market picture
Moneyiar market data at 9:43-9:44 a.m. on Oct. 13, 2026, showed BNB at $741.4902591874, down 1.05% over 24 hours and 5.29% over seven days. Other tracked assets were also mixed to lower:
- Altlayer (ALT): $0.0080157004, down 5.28% in 24 hours and up 1.4% over seven days.
- Ontology (ONT): $0.0557020349, down 6.17% in 24 hours and 8.06% over seven days.
- Ore (ORE): $110.2925651243, down 4.86% in 24 hours and up 0.08% over seven days.
