Binance has announced the permanent closure of Binance Pool and all associated mining services on November 10, 2026, at 07:00 UTC. The decision brings an end to operations for the mining unit, which has been running for more than six years since its debut. The shutdown exclusively targets the mining ecosystem, while Binance’s core trading exchange continues to operate normally without any changes.
Management has instructed all miners to immediately migrate their hardware to other mining pools before the deadline arrives. After November 10, Binance systems will no longer accept incoming hashrate and will stop crediting mining shares to user accounts.
Services Being Discontinued
The operational shutdown encompasses an extensive suite of mining infrastructure. Discontinued offerings include Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator, mining application programming interfaces (APIs), and user hashrate notification systems.
Binance also urged users with active positions in Pool Savings products to take immediate action. All savings positions must be redeemed or unsubscribed before the official closure date takes effect.
Status of Miner Balances Post-Closure
Regarding miner earnings, Binance confirmed that unsettled rewards and balances will still be processed after the system is taken offline. The settlement of these balances will depend on individual product terms as well as platform regulatory compliance checks.
Users will have 14 days following the closure, specifically until November 24, 2026, to access and download their historical mining data records. Once the November 24 deadline passes, all mining pages and documentation links will be permanently removed from the Binance website.
Track Record Since April 2020
Binance did not disclose a specific reason behind the closure of its mining unit. The company only stated that the decision was made based on an ongoing routine review of its product and service portfolio.
The Binance Pool service first launched in April 2020, initially focusing on Bitcoin mining before expanding to various other crypto assets. In October 2022, the unit launched a $500 million lending program to support market liquidity for Bitcoin miners. Integration updates continued through November 2024, when Binance Pool rolled out merged mining support for Fractal Bitcoin.
For miners still connecting their rigs to Binance, the immediate priority now shifts to safeguarding their operations: redirecting hashrate connections to alternative pool providers, redeeming Pool Savings balances, and downloading all data archives before access is fully terminated on November 24.
Reported by Cointelegraph.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
