Binance to Discontinue Crypto Mining Services After Six Years

Binance has announced the discontinuation of its crypto mining services, including Binance Pool, Pool Savings, Cloud Mining, and Transaction Accelerator, effective November 10, 2026, at 07:00 UTC. The decision was reported by multiple outlets, including Cointribune, Crypto Adventure, and The Coin Republic.

The shutdown will require miners to redirect their computing power to alternative mining pools before the cutoff. Binance has already begun advising miners to make the necessary arrangements. After the shutdown, Binance will disable mining endpoints and stop accepting new hashrate submissions, as reported by Crypto Adventure and The Coin Republic.

Most outlets agree on the November 10, 2026, cutoff date and the 07:00 UTC timing, but there are slight differences in the details of the shutdown process. For instance, Unchained notes that miners will have until November 24 to view their payout records and status before the pool's pages disappear, while other outlets do not mention this specific detail.

The decision comes after six years of operation since the Binance Pool's launch in April 2020, as highlighted by TronWeekly. The move is part of a regular review of Binance's products and services, although the company has not provided specific financial or regulatory reasons for the shutdown.

The current state of the crypto market shows a relatively stable environment, with the total market cap at $2.88 trillion and Bitcoin trading at $83,618, up 0.94% in the last 24 hours. The Bitcoin network hashrate stands at 1000 EH/s, with a difficulty of 132.7T, according to mempool.space.

The shutdown of Binance's mining services may have implications for the broader mining ecosystem, potentially influencing the distribution of mining power and the operational landscape for miners. Miners and users of Binance's mining services should monitor the situation closely and prepare for the transition to alternative platforms.