Key Highlights
- Binance Pool mined only one Bitcoin block over a seven-day period, accounting for a mere 0.11% of the network’s production.
- The sharp drop in hash rate precedes the mining pool’s scheduled permanent shutdown on November 10.
- Binance will terminate all associated services at 07:00 UTC Tuesday, including block rewards, cloud mining, pool savings, and its transaction accelerator.
Binance Mining Pool Nears Full Halt Ahead of Scheduled Closure
Binance’s dedicated Bitcoin mining operation has seen its production plunge to near-negligible levels just days ahead of its permanent closure. Over the past week, Binance Pool discovered only a single Bitcoin block, marking a steep decline for a collective mining platform that once commanded over 2% of the Bitcoin network’s total computing power.
According to blockchain metrics sourced from mempool.space, Binance Pool was responsible for producing just one of the approximately 925 Bitcoin blocks solved during the seven-day observation window, representing a network share of roughly 0.11%. The platform recorded zero blocks found during the most recent 24-hour period, signaling an almost complete migration of participating miners away from the infrastructure.
Final Blocks and Hash Rate Depletion
The pool’s most recently identified block was block 974,743, mined at 01:15 UTC on November 6. That specific block settled 1,353 transactions and yielded a total reward of approximately 3.134 BTC, accounting for the native subsidy alongside attached network transaction fees.
The dramatic drop in solved blocks reflects a prolonged reduction in hashing capacity that began well before the official termination announcement. Analysis assessed by CoinDesk revealed that Binance Pool’s computing power fell from approximately 26 exahashes per second (EH/s) in December 2025 to about 9.2 EH/s in October—a contraction of roughly 65%. Hash rate has continued to diminish as operators redirect their hardware ahead of the final cut-off.
November 10 Service Discontinuation Details
The operational collapse directly precedes Binance’s self-imposed November 10 deadline to permanently terminate its mining arm, which initially launched in April 2020. Binance confirmed in an October announcement that it would officially disconnect all remaining miners at 07:00 UTC on Tuesday.
The operational shutdown will decommission all products tied to the mining vertical. In addition to halting block-reward distributions, Binance will end its cloud mining contracts, mining pool savings features, and its proprietary transaction accelerator service.
Why This Matters
The impending closure of Binance Pool highlights a broader trend of crypto exchanges streamlining business models away from direct participation in proof-of-work consensus. Launched during the previous market cycle to capture institutional and retail hashing power, exchange-hosted mining pools face shifting economics, increasing global network difficulty, and evolving regulatory standards. As Binance disconnects its infrastructure, remaining Bitcoin miners are actively pointing their hash power to competing dedicated pools, redistributing network security among specialized mining operations.
Frequently Asked Questions
When is Binance Pool officially shutting down?
Binance Pool is scheduled to disconnect all miners and shut down services at 07:00 UTC on Tuesday, November 10, bringing an end to the service that originally debuted in April 2020.
Which specific services will be discontinued?
The shutdown will terminate Binance’s block-reward distribution services, cloud mining operations, pool savings accounts, and its transaction acceleration tool.
How much hash rate did Binance Pool lose prior to closing?
Binance Pool’s computing power dropped by approximately 65%, declining from roughly 26 EH/s in December 2025 to about 9.2 EH/s by October, with production dropping to just one block over a seven-day stretch in early November.
