Binance to Shut Down Mining Pool and Cloud Mining Services on November 10

Binance is preparing to exit the cryptocurrency mining pool business, announcing that Binance Pool and several related services will permanently shut down on November 10, 2026. The decision will affect miners using the exchange’s infrastructure to submit hashrate, earn mining rewards, and access associated products.

According to Binance’s October 13 announcement, the shutdown is part of an ongoing review of its products and services. The company has not provided a more specific explanation for the decision, which brings an end to more than six years of mining pool operations.

The closure does not mean Binance is shutting down its cryptocurrency exchange. Instead, the changes are focused on its mining-related products and services.

Which Binance Mining Services Are Closing?

The November 10 deadline extends beyond Binance Pool itself. The exchange has confirmed that several connected services will also be discontinued.

Affected services include:

Binance Pool: Mining connections and reward processing will end.

Pool Savings: Users will no longer be able to maintain these positions through the service.

Cloud Mining: Related cloud mining products will be discontinued.

Transaction Accelerator: The mining-related transaction service will close.

Mining APIs and notifications: Pool API services, Telegram hashrate alerts, and email notifications will also end.

At 07:00 UTC on November 10, Binance will disable its mining pool Stratum URLs and other mining endpoints. Hashrate submissions and mining shares received after that time will no longer be accepted, processed, or credited toward rewards.

Eligible mining shares submitted before the deadline will remain subject to Binance Pool’s existing reward rules. However, no new rewards, yield, or service benefits will accrue through the discontinued products after the cutoff.

Binance has not announced a replacement mining service for customers affected by the closure.

Bitcoin Miners Must Move to Another Pool

For miners currently pointing their ASIC equipment toward Binance Pool, the most immediate priority is changing their mining configuration before the shutdown.

Mining pools allow individual operators to combine their computing power and receive more consistent payouts than they would typically achieve by mining independently. Miners generally configure their equipment with a pool’s Stratum address, worker details, and other connection settings.

Once Binance disables its endpoints, machines still configured to use those addresses will no longer submit work to the pool. Miners who want to continue operating will need to select another provider and update their equipment accordingly.

The transition should be completed before November 10 at 07:00 UTC to avoid an interruption in mining activity. Operators should verify that their machines are successfully connecting to the new pool and that accepted shares are being recorded.

Miners should also review payout thresholds, pool fees, reward methods, and withdrawal requirements when choosing a replacement. These details can affect both the consistency and overall value of mining revenue.

For larger operations, the shutdown may require additional planning to migrate multiple machines, update monitoring systems, and verify that all workers are reporting to the correct pool.

What Happens to Outstanding Rewards and Pool Savings?

Binance says eligible outstanding rewards, balances, refunds, and settlements may be processed after the shutdown, subject to the relevant product terms and conditions.

Payment eligibility will depend on factors including account status, risk controls, compliance checks, and applicable laws. The announcement does not guarantee that every balance will be paid immediately or that every account will qualify for a settlement.

Users with active Pool Savings positions should review their accounts and redeem or unsubscribe from those products before the applicable closure deadline. Customers should also confirm that their accounts can receive eligible remaining payments.

Binance has instructed users who need identity verification or other account requirements to complete those steps by 23:59 UTC on November 10 to help facilitate timely processing.

The exchange has also established a deadline for accessing historical records. Links to Binance Pool will be removed from the Binance homepage on November 10, but the remaining pool pages will stay available temporarily. Historical data, account records, and payout information will be accessible where available until November 24, 2026, at 07:00 UTC.

After that date, the pages will be permanently inaccessible through the existing interface.

Miners should download or save relevant records, payout information, and transaction history before access ends.

Binance Pool's Role in Bitcoin Mining

Binance launched its mining pool in April 2020, entering a competitive market already served by established mining operators. The service allowed miners to contribute computing power and receive rewards while connecting mining activity to the broader Binance ecosystem.

Over the years, Binance expanded its mining-related offerings to include additional products and tools. The service also introduced initiatives aimed at supporting mining businesses and improving access to mining infrastructure.

Despite the Binance brand's prominence in cryptocurrency trading, the mining pool has represented a relatively small share of recent Bitcoin block production. Data cited by CoinMarketCap from mempool.space showed Binance Pool mined 47 of the 4,425 Bitcoin blocks found over the preceding month, approximately 1.1% of the total.

That figure provides context for the closure, although it does not establish the reason Binance decided to discontinue the service. The company has not attributed its decision to profitability, competition, Bitcoin's mining difficulty, or any specific market condition.

The shutdown will nevertheless remove another recognizable exchange-operated option from the pool market. Miners affected by the change will need to evaluate other providers based on fees, payout structures, reliability, geographic considerations, and available monitoring tools.

Binance's Broader Business Strategy Continues to Evolve

The decision comes as Binance continues to expand beyond its traditional cryptocurrency exchange offerings. Recent developments have included products connected to traditional financial markets and the rollout of AI-powered trading tools.

The company has not directly linked those initiatives to its mining pool closure. However, discontinuing several related services is a notable change in the range of products available through the Binance ecosystem.

For Bitcoin miners, the important distinction is that this is a service-specific shutdown rather than an announcement that Binance is leaving cryptocurrency trading altogether.

The closure also does not mean Bitcoin mining itself is ending or that the Bitcoin network will be directly disrupted. Mining equipment can be redirected to other pools, and the network will continue operating as miners compete to produce new blocks.

The effect on individual miners will depend largely on how quickly they migrate their equipment and how suitable their replacement pool is for their operation.

What Miners Should Do Before November 10

Anyone currently using Binance Pool or its associated services should take several steps before the shutdown:

Choose a replacement mining pool. Compare fees, payout policies, reliability, and available features.

Update mining configurations. Replace Binance's Stratum addresses and credentials with the new provider's settings.

Verify connectivity. Confirm that miners are submitting accepted shares and that hashrate is being reported correctly.

Review Pool Savings positions. Redeem or unsubscribe from active positions before the service closes.

Check account and payment requirements. Complete any necessary identity verification and review eligible outstanding balances.

Save historical records. Download payout information, mining reports, and other relevant account data before November 24.

Binance Pool is scheduled to stop accepting mining work at 07:00 UTC on November 10, 2026. With the deadline approaching, miners who rely on the service should plan their migration early rather than risk unnecessary downtime.

For now, Binance has offered only a general explanation for the closure, citing its ongoing review of products and services. The practical impact is clearer: miners must move elsewhere to continue earning rewards, while users of related products need to settle their positions and preserve any records they may need after the service disappears.