Binance to close its mining pool and cloud mining on November 10

Binance will shut down its mining pool and three linked products on November 10, the company said on October 13. Binance Pool, Cloud Mining, Pool Savings and the Transaction Accelerator all stop at 07:00 UTC. Miners have four weeks to move.

The plan sits in a notice titled "Notice on the Closure of Binance Pool Services," posted to the exchange's announcements page on October 13, 2026. Binance called the move part of "an ongoing review of products and services." It gave no other reason.

What is closing, and when

Four products go dark on the same day. Binance Pool, the exchange's bitcoin mining pool, stops accepting shares at 07:00 UTC on November 10, 2026. So do Pool Savings, Cloud Mining and the Transaction Accelerator, a tool that helped push stuck bitcoin transactions through the network faster. Mining pool API access, Telegram hashrate alerts and email notices switch off at the same moment.

After the cutoff, the pool's web pages stay readable for 14 days, until 07:00 UTC on November 24. Users can check past records and payout status in that window. Then the pages come down for good. Anyone who still needs to finish identity checks has until 23:59 UTC on November 10 to do it.

What miners need to do first

The clock is the hard part. Hashrate pointed at Binance Pool after 07:00 UTC on November 10 will not count, while shares sent before the cutoff still earn their final rewards. Anyone mining through the pool has to repoint their machines to another operator before that moment or lose the output.

Pool Savings holders face a separate task. Binance told them to unsubscribe or redeem their positions before the service ends. Remaining rewards, balances, refunds and qualifying settlements are due to be paid after the shutdown, the company said, subject to its usual compliance and risk checks. It did not give a date for those final payments.

A business Binance built in 2020

Binance Pool opened in April 2020, starting with bitcoin and a full pay-per-share payout model. That model drew miners who wanted steady income rather than the long odds of mining solo. It ran for more than six years. Now it is going.

What Binance did not say is how much computing power the pool holds, how many miners use it, or where that hashrate will go. That silence matters. A pool's departure reshuffles where blocks get found, and the network's biggest operators already sit on large shares. For smaller miners deciding where to go next, whether mining still pays depends on power costs and bitcoin's price more than on which pool they pick. The company framed the closure as routine housekeeping, not a retreat from mining, though it is cutting every mining product it runs at once.

What to watch

First comes the question of whether final rewards and refunds clear cleanly once the pool stops. Binance has tied those payments to compliance reviews, so timing is the open question. Watch too for where Binance Pool's miners land, and whether that nudges the hashrate held by the largest pools any higher. The November 24 cutoff is the last date to pull personal records. After that, they are gone.