Binance Pool to Close as Bitcoin Miners Prepare to Switch

| newsbtc.com
Binance Pool will stop operating at 07:00 UTC on November 10, 2026, Binance said in an October 13 announcement. The closure covers Bitcoin mining, Pool Savings, Cloud Mining, the Transaction Accelerator, mining pool APIs and hashrate alerts. Binance cited a review of its products and services but gave no specific commercial reason. The shutdown does not affect Binance exchange or spot-trading operations. Bitcoin miners must redirect their machines before the cutoff. Binance will stop accepting or crediting new shares and hashrate submissions, while eligible shares submitted before the deadline will be included in its final reward calculation. Users should complete any required identity checks by 23:59 UTC on November 10, review active savings positions and ensure their accounts can receive eligible outstanding rewards or refunds under product terms and compliance requirements. Historical pool pages are due to close on November 24, so users should save account records beforehand. Binance Pool’s estimated Bitcoin hashrate fell to about 9.2 EH/s in October, from roughly 26 EH/s in December, and represented less than 1% of the network in the latest estimate. Foundry USA, AntPool and F2Pool together accounted for about 64.2% of measured hashrate in an October comparison. Binance has not disclosed where its miners will go; they may join other pools, mine independently or take machines offline. Traders can monitor changes in pool hashrate and block shares for signs of shifting concentration, but the closure alone does not establish a direct Bitcoin price impact.
Neutral
The shutdown directly affects mining services, not Bitcoin’s exchange or spot-trading availability, and neither summary establishes a direct price effect. In the short term, miners must redirect machines and may adjust payout, fee and custody arrangements. Any resulting hashrate shifts could alter pool-level block shares or concentration, but miners may disperse across multiple pools, mine independently or switch off equipment; the reported 9.2 EH/s therefore should not be treated as a single block of hashrate moving to one operator. Bitcoin’s network continues to produce blocks, and the event itself does not change its supply schedule or protocol rules. Over the longer term, a sustained change in pool concentration could attract trader attention because it bears on network structure and miners’ choice of transaction-selection policies. However, the summaries provide no evidence that the closure will reduce Bitcoin production or materially affect network security. Traders should watch actual hashrate and block-share data after the cutoff rather than infer a directional BTC move from the announcement alone. The information supports a neutral price-impact assessment.