Binance Pool Shutdown: Mining Services End November 10

Binance is pulling the plug on its mining pool operations, announcing Tuesday that Binance Pool will cease all services on November 10. The closure wraps up more than six years of operation and extends to Pool Savings, Cloud Mining, Transaction Accelerator, mining pool APIs and hashrate notifications.

Miners Urged to Switch Pools Before Deadline

Once the deadline passes, Binance will disable mining endpoints and cut off connected miners. The exchange won’t accept hashrate submissions or credit mining shares received after the cutoff, and affected products will stop producing rewards and yields. Binance attributed the move to a broader review of its offerings without giving a detailed reason.

Miners were told to point their computing power toward alternative pools ahead of the shutdown to avoid disruptions. Users holding active Pool Savings positions should redeem or unsubscribe before closure.

Outstanding Rewards and Record Access

Binance pledged to process eligible rewards, balances, refunds and settlements after the shutdown, pending product rules and compliance checks. Users can access historical mining records and payout data until November 24, after which the pool’s pages vanish permanently.

The pool launched in April 2020 with Bitcoin mining support before branching into other cryptocurrencies.