Binance is preparing to exit Bitcoin mining pool operations as the exchange shifts its focus toward other services.
The decision will end several mining products and require users to move their operations elsewhere.
The closure follows a decline in Binance Pool’s share of Bitcoin’s total network hashrate. Meanwhile, the exchange continues expanding its artificial intelligence tools and traditional financial trading services.
Binance confirms November 10 shutdown of Bitcoin mining services
Binance announced on October 13 that it will shut down Binance Pool on November 10, 2026, at 07:00 UTC. The closure covers Cloud Mining, Pool Savings, Transaction Accelerator, Stratum connections, APIs, and email and Telegram alerts.
According to Binance, the platform will stop accepting, processing, or crediting mining shares and hashrate submissions after the deadline.
The exchange instructed miners to switch providers and close their Pool Savings accounts before operations end. Binance will process outstanding rewards and refunds under existing product terms, subject to compliance checks.
Users can access their transaction histories until November 24 at 07:00 UTC. Binance attributed the decision to a broader product review without disclosing its financial considerations.
Binance pool market share falls below 1% as mining competition grows
Binance launched its Bitcoin mining pool in April 2020, offering miners a Full Pay-Per-Share payment model.
Hashrate Index ranked Binance Pool ninth on December 31, 2025, with 26 EH/s and a 2.3% market share.
However, October 14 data placed the pool eleventh, recording approximately 9.1 EH/s and a 0.85% share. Bitcoin’s total network hashrate stood near 1,013 EH/s.
The figures cover different measurement periods and do not establish a continuous performance trend.
Miners can redirect their equipment toward alternative pools without leaving Bitcoin’s network. However, the transition could increase mining concentration among larger operators.
Foundry USA accounted for approximately 25% of recently mined blocks, while AntPool represented around 22%. Both could gain additional share if displaced miners join their operations.
Meanwhile, Luxor estimated September’s hash price at $39.33 per PH/s daily, reflecting broader mining economics rather than Binance Pool’s profitability.
Binance expands AI tools and traditional asset trading
The mining shutdown comes as Binance expands its presence across artificial intelligence and traditional financial markets.
On October 12, Binance introduced a free AI market assistant following beta testing involving approximately 150,000 users. The assistant offers market guidance without executing autonomous trades.
The exchange also entered U.S. equities through Nest Trading and outlined physically settled options covering over 1,000 American stocks and ETFs.
According to The Block, Binance’s traditional-finance perpetual futures volume increased from $29.5 billion in January to $433.4 billion in August.
Binance held 25.3% of Bitcoin liquidity across surveyed exchanges. CoinGecko estimated traditional-asset trading reached $1.45 trillion across six crypto exchanges during the first half of 2026.
Meanwhile, Perception found that one in eight third-quarter Bitcoin mentions referenced AI, compared with one in 37 during 2022.
Some miners have pursued AI data centers using existing power infrastructure. Despite Bitcoin gaining 43% during the quarter, five miners with major AI deals lost 30%, with their shares tracking Nvidia more closely.
