Binance Is Closing Its Bitcoin Mining Pool on November 10: Hashrate Was Already Down 81%, Pool by Pool
Binance Pool shuts on November 10, 2026. Mempool.space data shows its hashrate fell from 20.5 to 3.8 EH/s before the notice. Pool shares, concentration and dates.
Published October 16, 2026. Binance will shut down Binance Pool, its Bitcoin mining pool, on November 10, 2026 at 07:00 UTC, according to a notice the exchange published on October 13. Our review of block data on mempool.space shows that most miners had already left: the pool's estimated hashrate fell from about 20.5 EH/s in the week of September 7 to 3.8 EH/s in the week of October 12, a drop of about 81%. Here is what closes, how much hashrate is still on the pool, and where it is likely to go.
Key takeaways
- What closes: Binance Pool, Pool Savings, Cloud Mining, the Transaction Accelerator and related features (hashrate alerts, mining pool API) end on November 10, 2026 at 07:00 UTC. Binance gives one reason: an "ongoing review of products and services".
- Already small: Binance Pool found 9 of the last 1,081 blocks (0.83%) over the past week, against 1,071 of 52,374 blocks (2.04%) over the past year, according to mempool.space.
- The exodus came first: in mempool.space's weekly series, the pool's share was already down to 0.59% in the week of October 5, before the October 13 announcement.
- Little impact on Bitcoin itself: the hashrate still to move (roughly 4 to 13 EH/s, depending on the window) is about 0.4% to 1.4% of the network's ~951 EH/s. Miners switch pools; they do not switch off.
- Concentration stays high: Foundry USA and AntPool found 46.3% of blocks over the past month, and the top five pools 78.8%.
What Binance announced, and the timeline
The notice, titled "Notice on the Closure of Binance Pool Services" and dated October 13, 2026, sets three dates:
| Date (UTC) | What happens |
|---|---|
| Oct 13, 2026, 03:00 | Closure announced |
| Nov 10, 2026, 07:00 | All Binance Pool services end. Stratum URLs and mining endpoints are disabled; shares submitted after this time are not credited. Pool Savings and Cloud Mining close, with no new rewards after this time |
| Nov 10, 2026 | Links to Binance Pool removed from the Binance homepage |
| Nov 24, 2026, 07:00 | Binance Pool pages (history, records, payout status) become permanently inaccessible |
Binance asks users to point their machines to another pool before the cutoff, to redeem Pool Savings positions and to make sure their account can receive any remaining rewards, including identity verification where required. Eligible shares submitted before the cutoff are included in the final reward calculation. The notice does not say whether the closure is linked to a regulator, and we found no official statement giving another reason.
Our data: Binance Pool's share, window by window
We pulled block counts from the mempool.space mining API on October 16, 2026 (around 09:30 UTC). Hashrate equivalents are our calculation: share of blocks multiplied by the network hashrate estimate of 950.7 EH/s. With only a few blocks per week, short windows are noisy.
| Window | Blocks found by Binance Pool | Total blocks | Share | Hashrate equivalent (our calc.) | Rank |
|---|---|---|---|---|---|
| Past 12 months | 1,071 | 52,374 | 2.04% | ~19.4 EH/s | 10th |
| Past 6 months | 454 | 26,386 | 1.72% | ~16.4 EH/s | 10th |
| Past 3 months | 230 | 13,419 | 1.71% | ~16.3 EH/s | 10th |
| Past month | 45 | 4,427 | 1.02% | ~9.7 EH/s | 13th |
| Past week | 9 | 1,081 | 0.83% | ~7.9 EH/s | 12th |
| Past 24 hours | 2 | 145 | 1.38% | ~13.1 EH/s | 12th |
Since it started, Binance Pool has found 22,191 blocks in total (2.28% of the blocks indexed by mempool.space for the pool's lifetime).
Weekly hashrate: the decline started in September
| Week of | Average hashrate (EH/s) | Share of network |
|---|---|---|
| Aug 31, 2026 | 23.3 | 2.54% |
| Sep 7, 2026 | 20.5 | 2.20% |
| Sep 14, 2026 | 18.1 | 1.93% |
| Sep 21, 2026 | 14.6 | 1.56% |
| Sep 28, 2026 | 15.1 | 1.61% |
| Oct 5, 2026 | 5.7 | 0.59% |
| Oct 12, 2026 | 3.8 | 0.37% |
Source: mempool.space pool hashrate series (estimates based on blocks found). From the August 31 peak, the drop is about 84%. The sharpest step, from 15.1 to 5.7 EH/s, happened in the week of October 5, before the public notice. That points to large miners being informed, or leaving, ahead of the announcement, but the data cannot tell us why. Press reports of a "65% drop" are in the same direction; our own figure from the weekly series is larger.
Where the hashrate goes: pool concentration
| Pool | Share, past month | Share, past 12 months |
|---|---|---|
| Foundry USA | 25.3% | 28.1% |
| AntPool | 21.0% | 18.2% |
| F2Pool | 16.3% | 12.6% |
| ViaBTC | 9.4% | 9.7% |
| SpiderPool | 6.8% | 8.8% |
| MARA Pool | 5.1% | 5.0% |
| Top 2 | 46.3% | 46.3% |
| Top 5 | 78.8% | 77.4% |
| Binance Pool | 1.0% | 2.0% |
Our calculation from mempool.space block counts (4,427 blocks over the past month, 52,374 over 12 months). Even if all remaining Binance Pool hashrate moved to Foundry or AntPool, the top-two share would rise by less than one percentage point. The closure removes one more large name from the list of pools, but it does not change the basic picture: about four blocks in five are found by five pools.
Why it matters
- For miners: anyone still on Binance Pool must reconfigure machines before November 10. Rewards stop at the cutoff, and Pool Savings and Cloud Mining positions must be redeemed.
- For the network: pool switches do not reduce total hashrate, so block times and security should not change. The next difficulty adjustment, at block 971,712, was estimated by mempool.space at about +5.9% on October 16 (around 12:50 UTC), which suggests the network's hashrate kept rising while Binance Pool shrank.
- For Binance: the exchange keeps trading and custody; this is a product closure, not a withdrawal from Bitcoin. The notice gives no figure on users affected.
- For miners' economics: with Bitcoin at about $82,081 (CoinGecko, October 16, 09:41 UTC), the 3.125 BTC block subsidy is worth about $256,500 per block. See our Bitcoin halving explainer for how this subsidy halves again in 2028.
What to watch next
- October 16, 2026 (around 12:50 UTC, estimate): difficulty adjustment at block 971,712 (mempool.space estimate: +5.9%).
- Late October 2026: the following adjustment, about two weeks later. Watch whether Binance Pool's last hashrate shows up at Foundry, AntPool or F2Pool.
- November 10, 2026, 07:00 UTC: Binance Pool closes. Any block found by Binance Pool after this date would be unexpected.
- November 24, 2026, 07:00 UTC: Binance Pool pages go offline; miners should save their records before then.
We will add an "Updated" line to this article if Binance gives a new reason for the closure or publishes figures on affected users.
FAQ
When does Binance Pool close?
On November 10, 2026 at 07:00 UTC. Mining connections are cut and shares submitted after that time are not credited. Pool pages stay visible until November 24, 2026 at 07:00 UTC.
Why is Binance closing its mining pool?
Binance's notice only says the decision is part of an "ongoing review of products and services". It gives no other reason.
Will the closure hurt Bitcoin's security?
Very unlikely. Binance Pool found less than 1% of blocks over the past week. Miners move to another pool; their machines keep securing the network.
Which services end besides the pool?
Pool Savings, Cloud Mining, the Transaction Accelerator and related features such as Telegram hashrate alerts, e-mail notifications and the mining pool API.
How concentrated is Bitcoin mining?
Over the past month, Foundry USA and AntPool found 46.3% of blocks and the top five pools 78.8% (our calculation from mempool.space).
Related reading
- The Bitcoin halving explained
- What is Bitcoin? The complete guide
- Bitcoin ETF flows tracker
- Strategy buys just 250 Bitcoin: 5 weeks of SEC filings compared
- Why is Bitcoin down today?
- Crypto liquidity and institutional flows: the guide
- ESMA gives platforms until January 8 to drop non-MiCA stablecoins
Sources
- Binance, "Notice on the Closure of Binance Pool Services", October 13, 2026: binance.com
- mempool.space, mining pools ranking and Binance Pool page (block counts, weekly hashrate, difficulty estimate), read October 16, 2026: mempool.space/graphs/mining/pools, mempool.space/mining/pool/binancepool
- CoinGecko, Bitcoin price, October 16, 2026, 09:41 UTC: coingecko.com
Hashrate figures are estimates derived from blocks found and can differ from figures reported by the pools. This article is for information only and is not investment advice. Crypto assets are volatile and you can lose all the money you invest.
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