Binance to shut mining pool and cloud services on Nov. 10

Binance will shut down its bitcoin mining pool and related services on Nov. 10, ending an operation it has run since April 2020. The exchange said Tuesday that Binance Pool, Pool Savings, Cloud Mining and Transaction Accelerator will all go offline at 07:00 UTC on that date. Stratum URLs and mining endpoints will be disabled at the same time, and hashrate or shares submitted afterward will no longer be accepted, processed or credited.

The closure reaches past the pool itself. Telegram hashrate alerts, email notifications and the pool's API services will also end, Unchained noted in its account of the announcement. The pool will keep running normally until the cutoff, and valid shares submitted before it will still count toward final rewards. Binance described the move as part of an ongoing review of its products and services, and Cointelegraph reported the company gave no specific reason for the shutdown.

Miners must point their machines at another pool before the deadline to avoid interruptions. Pool Savings users need to redeem or unsubscribe from their positions before the service ends, and anyone expecting a final payout must complete any required identity verification by 23:59 UTC on Nov. 10. Eligible outstanding rewards, balances, refunds and settlements will be processed afterward, subject to product rules, account status and compliance checks.

The pool's pages will stay viewable for 14 days after the cutoff, until 07:00 UTC on Nov. 24, so users can check historical data, account records and payout status. Links to the pool will disappear from the Binance homepage on Nov. 10, and the pages will become permanently inaccessible after Nov. 24. The exchange advised users to download any reports or transaction history they want to keep.

A mining pool combines the computing power of many miners and splits block rewards based on the work each contributes. Cloud Mining let users buy a slice of mining power without owning hardware, while the Transaction Accelerator helped push through bitcoin transfers that were slow to confirm because of low fees or congestion.

Binance Pool launched in April 2020 with bitcoin mining on a full pay-per-share model, according to Unchained. By the end of 2025 it ranked ninth among bitcoin pools with about 26 exahashes per second, or 2.3% of the network, Decrypt wrote, citing Hashrate Index data. The same report called it the last pool still standing from the era when exchanges rushed into mining, with its relevance tied to Binance's exchange and custody business rather than mining technology.

Binance launched its mining pool in April 2020, initially supporting bitcoin before expanding to other cryptocurrencies, Cointelegraph noted. The outlet said it had contacted Binance for more detail and received no immediate response.

The shutdown continues a clearout of side businesses. Binance closed its centralized NFT service on July 3, telling users to move tokens to its self-custody wallet. At the same time the exchange has pushed into traditional finance: on June 1 it opened access to more than 7,000 US stocks and ETFs for customers outside the United States, with zero commission and fractional purchases from $5, according to Decrypt, which cited co-CEO Richard Teng. It also previewed bStocks, a feature that lets users mint tokenized versions of bought shares on the BNB blockchain.

Quantmap co-founder Ivan Patriki told Decrypt at the time that large exchanges are moving into equities because they no longer want to depend on crypto market cycles. Vytautas Mackonis, operations chief at tokenization protocol ALCUM, said the stock offering is more complex than it looks, with Binance as the interface, Nest Trading as broker-dealer and Alpaca Securities as custodian. Changpeng Zhao used the phrase "smooth sunsetting of old products" for an earlier withdrawal in 2023, when he still led the company. Miners on Binance Pool now have 28 days from the Oct. 13 announcement to find a new home for their hashrate before the Nov. 10 cutoff stops all credit for new work.