Binance to sunset its crypto mining pool and related services in November

The exchange confirmed the decision on October 13, citing an ongoing internal review of its product offerings. Beyond the core mining pool, the shutdown encompasses Pool Savings, Cloud Mining, the Transaction Accelerator, and various mining APIs. Starting at the designated deadline, Binance will disable all Stratum addresses and mining endpoints, meaning any hashrate submitted thereafter will no longer be credited toward rewards.

Miners currently utilizing the platform must reconfigure their hardware to connect with other providers. While Binance plans to process eligible unsettled rewards and refunds after the closure, it has not guaranteed immediate payouts, noting that fulfillment remains subject to compliance reviews and account status. Users are advised to complete identity verification by 23:59 UTC on November 10 to ensure their accounts remain eligible for final settlements.

Historical data and transaction reports will remain accessible on the platform for a two-week grace period. Binance intends to host these records until November 24, 2026, at which point the relevant pages will be permanently taken offline. The company has not disclosed specific reasons for the exit beyond its standard product review, nor has it provided details on the status of outstanding loans issued under the $500 million Bitcoin mining lending initiative introduced in 2022.