Binance blockchain that runs exactly as written when it is called, holding and moving funds according to its code, without an intermediary able to change the outcome.">smart contract holding reserves of two or more tokens, supplied by users, that a decentralized exchange uses to execute trades automatically at a price set by a formula.">Pool, the bitcoin mining pool the exchange has run since April 2020, will disconnect every miner at 07:00 UTC on Tuesday 10 November, according to Binance’s closure notice of 13 October. With less than a day to go, the pool has almost stopped finding blocks: it mined one of the roughly 925 blocks of the past seven days, about 0.11%, CoinDesk reported early on Monday 9 November, citing mempool.space data.
That single block was number 974,743, mined at 01:15 UTC on Friday 6 November with 1,353 transactions and a reward of about 3.134 BTC including fees. CoinDesk counted none in the 24 hours before its report. Our own pull of the mempool.space pools ranking at 08:15 UTC on Monday showed the same thing: one block out of 918, 15th and last of the pools listed for the week. The previous one, block 973,810, dates from 30 October.
Binance gave one reason for the shutdown, an “ongoing review of products and services”, and nothing more. The decision is older than the late-October Binance hack: the notice went out on 13 October, more than two weeks earlier, and no source ties the two.
What switches off at 07:00 UTC on 10 November
The closure is wider than the pool itself. The notice lists Binance Pool, Pool Savings, Cloud Mining, the Transaction Accelerator, the hashrate alerts sent on Telegram, email notifications and the mining pool API. All of them end on the same day.
At 07:00 UTC the pool disconnects miners and disables its Stratum addresses and endpoints, the servers that mining machines point at to receive work. “Hashrate submissions and mining shares submitted after this time will no longer be accepted, processed, or credited,” the notice says. No new rewards or yield accrue after the cutoff.
Until then, Binance says the pool is “expected to continue operating under normal conditions”. Eligible shares sent before 07:00 UTC go into the final reward calculation under the pool’s usual rules, so a miner who stays connected until the last hour is paid for that hour.
The links to the pool disappear from the Binance homepage on 10 November. The pool pages themselves stay open for 14 days, until 07:00 UTC on 24 November, for historical data, account records and payout status. After that, Binance says, they become permanently inaccessible.
What Binance Pool miners and Pool Savings users must do before the cutoff
The notice’s action list, plus one of its notes, comes down to four tasks, with two different deadlines on Tuesday:
- Disconnect from Binance Pool and point your machines at another pool before 07:00 UTC on 10 November. Miners can move their hashrate without switching the hardware off, CoinDesk noted: it is a change of Stratum address in the miner settings. Work sent to Binance after the cutoff earns nothing.
- Review any active Pool Savings positions and unsubscribe or redeem them before the service ends.
- Make sure your Binance account can receive what is still owed, completing any identity verification Binance requires. The notice asks for this by 23:59 UTC on 10 November “to facilitate timely processing”.
- Download your records and reports. The pool pages close for good at 07:00 UTC on 24 November.
What comes after the cutoff is less precise. Eligible outstanding rewards, balances, refunds or settlements “will be processed”, the notice says, subject to the product terms, the account’s status, risk controls, compliance checks and applicable law. It gives no payout date.
Cloud Mining customers get the least detail. Cloud Mining is on the list of services that end, but the notice says nothing about contracts that were meant to run past 10 November, or about any compensation for them. For now, the product terms and the general settlement wording above are all Binance has published on that point.
From 2.5% of bitcoin’s blocks to 0.11%: how Binance Pool emptied
The collapse of the last week is the end of a longer slide. In December 2025, Binance Pool had about 26 EH/s, or 2.3% of the network, according to Hashrate Index data quoted by CoinDesk on 15 October. By October 2026 the same source put it near 9.2 EH/s, under 1% of the network and 11th in its table, a fall of about 65%.
Mempool.space publishes its own weekly estimate for each pool. It shows the same direction, with a sharp break in early October, the weeks around the announcement:
| Week (mempool.space point) | Estimated hashrate | Share of blocks |
|---|---|---|
| 3 Nov 2025 | 28.16 EH/s | 2.54% |
| 5 Jan 2026 | 18.94 EH/s | 1.80% |
| 1 Jun 2026 | 17.60 EH/s | 1.74% |
| 3 Aug 2026 | 19.72 EH/s | 2.14% |
| 31 Aug 2026 | 23.30 EH/s | 2.54% |
| 28 Sep 2026 | 15.09 EH/s | 1.61% |
| 5 Oct 2026 | 5.66 EH/s | 0.59% |
| 12 Oct 2026 | 3.77 EH/s | 0.37% |
| 19 Oct 2026 | 10.58 EH/s | 1.03% |
| 26 Oct 2026 | 11.98 EH/s | 1.12% |
| 2 Nov 2026 | 6.16 EH/s | 0.58% |
| 9 Nov 2026 | 1.05 EH/s | 0.11% |
Why these share estimates are noisy
None of these figures is a measured hashrate. Mempool.space does not see a pool’s machines; it counts the blocks the pool finds and works back to the power it would take to find them. For a big pool that works well. For a small one, luck takes over.
Take the October rows. The estimate went from 3.77 EH/s in the week of the announcement to 11.98 EH/s two weeks later, a tripling that nothing in the notice or in the coverage explains by miners coming back. A few lucky blocks are enough to produce it. CoinDesk made the same point on Monday: with random block luck, one week of data cannot show how much power the pool still has.
The honest reading is narrower. Binance Pool’s share fell from about 2.5% of blocks in November 2025 to well under 1%, and its live hashrate on the eve of the closure is unknown. For scale, mempool.space estimated the whole network at about 965 EH/s over the past week, just under 1 ZH/s. Our guide to hashrate and difficulty explains how those estimates are built.
Where the hashrate went is not known
Binance has not said where its miners are going, and the data does not show it yet. CoinDesk’s October piece noted that Foundry USA, AntPool and F2Pool together held about 64.2% of the network, against 61.4% in December, when ViaBTC was still third. If all of Binance’s remaining hashrate went to those three, CoinDesk estimated, they would reach about 65%.
This week’s table does not show that move. Over the seven days to 08:15 UTC on Monday, mempool.space gave the three largest pools 60.89% of blocks between them, and 62.6% over the past month:
| Pool (7 days to 9 Nov, 08:15 UTC) | Blocks | Share |
|---|---|---|
| Foundry USA | 224 | 24.40% |
| AntPool | 174 | 18.95% |
| F2Pool | 161 | 17.54% |
| ViaBTC | 85 | 9.26% |
| SpiderPool | 59 | 6.43% |
| MARA Pool | 50 | 5.45% |
| OCEAN | 50 | 5.45% |
| SECPOOL | 44 | 4.79% |
| Luxor | 40 | 4.36% |
| Braiins Pool | 14 | 1.53% |
| Binance Pool | 1 | 0.11% |
The same luck problem works in reverse here: a shift of one or two points in a week is within the normal swing of block counts, so a small migration could be hidden in it. The weekly table published after Tuesday will say more.
Not every machine has to move. Hashrate that is switched off rather than repointed would show up later in the difficulty, which falls when blocks come more slowly. The next adjustment, due on 13 November, is expected to cut difficulty by about 4.8%, as we reported in our piece on that adjustment; it is computed over the past two weeks and cannot isolate Binance.
Binance Pool joins a run of pool closures
Binance is not the first large name to leave pool mining. SBI Crypto closed its pool on 31 July 2026, when it handled about 2% of the network, according to CoinDesk. OKX ended its pool services in February 2024. Poolin, which once held nearly a fifth of the network’s hashrate, filed for bankruptcy in July 2026, owing about $173 million.
Payouts at the pool ran on FPPS, short for full pay per share: the pool pays for the work each miner submits, whether or not a block is found, and carries the block luck itself. That is why the empty week costs miners nothing directly. It also explains the cutoff rule: shares count until 07:00 UTC, block or no block. Our guide to bitcoin mining covers how pools and payout schemes work.
There is one loose end from Binance’s mining past. In October 2022 the exchange announced a $500 million lending programme for miners, with terms of 18 to 24 months and rates of 5% to 10%, CoinDesk recalled. The closure notice does not mention it, and no outstanding balance has been disclosed.
Nor is the pool the only Binance service with a hard end date this year-end. Separately, Binance has told French and Italian users their accounts close on 31 December.
Open questions and the dates to watch
Several things remain unknown on Monday morning. Binance has not explained the closure beyond its “review”, nor said how many miners or Cloud Mining customers are still connected. It has given no payout date for final balances. It has not said whether any of the 2022 miner loans are still running, or where the pool’s hashrate is going.
The dates are fixed. Miners are disconnected at 07:00 UTC on Tuesday 10 November, and accounts must be ready to receive payouts by 23:59 UTC the same day. Bitcoin’s difficulty adjusts on 13 November. The pool’s pages go dark at 07:00 UTC on 24 November, and the first full weekly pools table without Binance will show who, if anyone, picked up its miners.