Cryptocurrency exchange Binance will close its Bitcoin mining pool and related services on November 10, more than six years after launching the business.

In an October 13 notice, the company said Binance Pool, Pool Savings, Cloud Mining, and its Transaction Accelerator would cease operating at 07:00 UTC. Mining pool APIs, hashrate alerts, and other associated features will also be discontinued.

Binance said the decision formed part of an “ongoing review of products and services,” without providing a detailed explanation.

Mining pools combine computing power from several (often thousands) of participating miners and distribute rewards according to the amount of power they supply, offering miners more predictable income than mining independently.

Binance has told miners to redirect their equipment to another pool before the deadline. Its mining connections will be disabled, and work submitted after the cutoff will no longer be credited.

Binance Pool Savings customers have been advised to redeem their positions before the closure. Eligible outstanding rewards, balances and refunds will be processed subject to product terms, account status and compliance checks, Binance said.

Historical records and payout information will remain accessible until November 24 at 07:00 UTC, after which the pool’s pages will become permanently unavailable.

The shutdown follows a decline in computing power directed at the pool. CoinDesk reported on October 15, citing Hashrate Index, that Binance Pool’s hashrate had fallen from approximately 26EH/s in December 2025 to 9.2EH/s, a decline of around 65 percent. Its estimated share of Bitcoin’s network had fallen from 2.3 percent to below one percent over that period.

Binance launched the pool on April 27, 2020, initially offering Bitcoin mining and waiving fees until the end of May. The service was designed to connect miners with its exchange, allowing their mining income to be traded directly on the platform.