Binance to shut down its Bitcoin mining pool on November 10 as hashrate falls about 65%

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Binance to shut down its Bitcoin mining pool on November 10 as hashrate falls about 65%

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Binance is closing its Bitcoin mining pool on November 10, after the pool's hashrate fell about 65% between December 2025 and October 2026. The exchange is not leaving Bitcoin mining altogether, according to AMBCrypto.

Binance is set to shut down its Bitcoin mining pool on the 10th of November. The decision does not mean the exchange is exiting Bitcoin mining altogether.

The pool launched in April 2020 and let independent miners combine their computing power to receive more predictable rewards. Its influence has gradually diminished since.

Binance Pool's hashrate fell about 65%

Data from mempool.space shows the pool's hashrate index fell from approximately 26 exahashes per second in December 2025 to 9.2 EH/s in October 2026. That is a decline of roughly 65%, and it cut the pool's estimated share of the network hashrate from 2.3% to less than 1%.

Binance Pool also produced few blocks. It mined just one block in seven days, about 0.11% of the 925 blocks found across the Bitcoin network, and it recorded zero blocks in the latest 24 hours. Still, the pool has mined 22,213 blocks to date, approximately 2.28% of all Bitcoin blocks.

Halving, competitors and AI shift shape the mining industry

The pool's decline comes amid a broader economic challenge for miners. After the April 2024 halving, the block subsidy dropped from 6.25 BTC to 3.125 BTC.

Meanwhile, Foundry USA, AntPool and F2Pool have become particularly dominant, together accounting for a substantial share of recent block discoveries. Several publicly traded miners have also started exploring artificial intelligence and high-performance computing infrastructure as alternative revenue sources.

Bitcoin miner outflows mostly stayed between 5,000 and 10,000 BTC in daily readings through 2026. November has not seen a sustained surge in selling, and the index stood at 6,800 BTC at press time. Bitcoin's price, meanwhile, has weakened from around $80,000 in late October to approximately $74,200 at press time.

Core Scientific, once the largest Bitcoin miner, has also announced plans to shut down its Bitcoin mining by Q4 2026 despite Q3 revenue hitting $233 million.

Source: AMBCrypto

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