Bitcoin mining rigs transitioning into an orderly shutdown

Binance Gives Bitcoin Miners a November 10 Deadline as Its Pool Business Winds Down

By Isaac • October 18, 2026 7:24 am • Comments

Binance is putting a hard stop on its Bitcoin mining-pool business, and miners still connected to the service now have a date they cannot ignore: November 10.

The exchange said Binance Pool and its related products will shut down at 7:00 a.m. UTC that day. The main exchange will remain open.

Binance is exiting the infrastructure it has used since 2020 to aggregate mining power, calculate rewards and pay participating miners.

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According to the official Binance announcement, the cutoff covers more than the core mining pool. Pool Savings, Cloud Mining, the Transaction Accelerator, mining APIs, hashrate alerts and other connected features are all on the shutdown list.

Binance expects the pool to operate normally until the cutoff. Once 7:00 a.m. UTC arrives, its mining connections and Stratum endpoints will stop accepting work, and new shares will earn nothing through the service.

The company told users to move their machines, redeem active savings positions and confirm that their accounts can receive any eligible final payments. Outstanding rewards, refunds and settlements remain subject to product rules, account status, risk controls and compliance checks.

Historical pool pages are scheduled to remain online for two more weeks. Binance set November 24 at 7:00 a.m. UTC as the final deadline for users to retrieve payout records and operating history.

Miners now have an operational deadline.

Anyone still pointing machines at Binance Pool needs to redirect that hashrate before the cutoff. Shares submitted after 7:00 a.m. UTC on November 10 will no longer be accepted, processed or credited.

Users with Pool Savings positions need to review and redeem them. Account holders expecting a final balance or refund should also make sure any required identity checks are complete.

Binance said eligible outstanding rewards and settlements will be handled under the applicable product rules, account status, risk controls and compliance checks. The company did not offer a detailed financial explanation for the closure, describing it as part of an ongoing product-and-service review.

There is a second deadline worth saving. Binance says the pool pages will remain available for historical records and payout information until November 24 at 7:00 a.m. UTC.

After that, the pages are scheduled to become inaccessible. Miners who need tax records, payout history or operating data should download those files before the archive window closes.

The pool had already become a much smaller Bitcoin player.

The decision lands after a steep drop in the computing power directed to Binance Pool. CoinDesk reported that the pool’s estimated hashrate fell from roughly 26 exahashes per second in December to about 9.2 EH/s in October, a decline of approximately 65 percent.

At the earlier level, Binance Pool represented about 2.3 percent of Bitcoin’s network hashrate. At the more recent reading, it had fallen below 1 percent and ranked outside the largest mining pools.

The closure removes a familiar name without suddenly taking a dominant block producer offline.

The more important question is where the displaced hashrate goes. Mining pools reduce the payout volatility individual operators face by combining work and distributing rewards.

Moving machines is technically straightforward for experienced operators. Choosing a replacement also means comparing fees, payout methods, geographic reliability, custody exposure and the concentration of Bitcoin’s block production.

If most of Binance Pool’s remaining miners move to the same one or two large competitors, Bitcoin mining becomes slightly more concentrated.

If they spread across smaller pools or use newer decentralized pooling tools, the shutdown could have the opposite effect.

This migration has two fixed dates. November 10 is the service cutoff, and November 24 is the records cutoff.

Miners who treat those as operating deadlines instead of calendar reminders should have enough time to move cleanly.

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