Binance to shut down Binance Pool mining service on Nov. 10 after six years
In brief
- Binance said it will discontinue Binance Pool on Nov. 10, Cointelegraph reported.
- Pool Savings, Cloud Mining, Transaction Accelerator, mining APIs and hashrate notifications are also ending.
- Miners were urged to redirect hashrate to alternative pools before the deadline.
- Historical mining records remain accessible until Nov. 24; pool pages then go offline permanently.
- Binance cited an ongoing product review and gave no specific reason.
What's shutting down
The cutoff goes beyond the pool itself. According to Binance's announcement as reported by Cointelegraph, the shutdown also covers Pool Savings, Cloud Mining, Transaction Accelerator and related features, including mining pool APIs and hashrate notifications.
After Nov. 10, Binance said it would disable its mining endpoints and disconnect miners from the pool. It won't accept hashrate submissions or credit mining shares received after the cutoff (and the affected products will stop generating rewards and yields).
That's a hard stop.
What miners and savers are told to do
Binance urged miners to redirect their computing power to alternative mining pools before the deadline to avoid interruptions. Users with active Pool Savings positions were advised to redeem or unsubscribe before the closure.
Balances don't just disappear, though. The exchange said eligible outstanding rewards, balances, refunds and settlements would be processed after the shutdown, subject to product rules and compliance checks. There's also a second date to keep in mind: users have until Nov. 24 to access historical mining records and payout information, after which the pool's pages become permanently inaccessible.
No specific reason given
Binance attributed the closure to an ongoing review of its products and services. It didn't give a specific reason.
Cointelegraph said it reached out to Binance for more information but didn't receive an immediate response.
The pool launched in April 2020, initially supporting Bitcoin mining before it expanded to other cryptocurrencies. That run ends on Nov. 10, and anyone still pointing hashrate at Binance after that date won't have their shares credited.
Frequently asked questions
When does Binance Pool shut down?
Binance said it will discontinue Binance Pool on Nov. 10. After that deadline it will disable its mining endpoints, disconnect miners and stop accepting hashrate submissions or crediting mining shares.
What happens to outstanding Binance Pool rewards and Pool Savings balances?
Binance said eligible outstanding rewards, balances, refunds and settlements would be processed after the shutdown, subject to product rules and compliance checks. Users with active Pool Savings positions were advised to redeem or unsubscribe before the closure.
How long can users access their Binance Pool mining history?
Users have until Nov. 24 to access historical mining records and payout information. After that, the pool's pages become permanently inaccessible.
