Key Highlights:
- Binance is terminating its mining pool services, disabling endpoints, and rejecting any subsequent hashrate submissions following the cutoff.
- Miners must redirect their rigs, redeem Pool Savings, and complete identity verification by 23:59 UTC on November 10 to receive remaining balances.
- Dedicated Binance Pool pages will close permanently at 07:00 UTC on November 24, giving users a limited window to export historical records.
Binance to Discontinue Mining Pool Services and Disconnect Endpoints
Global cryptocurrency exchange Binance is preparing to wind down operations for Binance Pool. At the established cutoff time, the platform will systematically disconnect active mining connections and disable all associated mining endpoints. Following this service termination, any incoming hashrate submissions and mining shares will no longer be accepted, processed, or credited to user accounts.
To avoid operational disruptions or loss of computing work, Binance has urged participating miners to reconfigure their hardware and switch to alternative mining pools ahead of the shutdown deadline. Additionally, users who currently maintain active Pool Savings positions are advised to manually unsubscribe or redeem these holdings prior to the conclusion of the service. Binance stated that Binance Pool will continue to operate normally until the official cutoff arrives, ensuring that all eligible mining shares submitted before the deadline are incorporated into final reward calculations under the platform’s standard distribution rules.
Settlement Procedures, Verification Deadlines, and Data Export
Following the formal closure of mining activities, Binance will proceed with processing outstanding eligible rewards, remaining account balances, applicable refunds, and final settlements. The exchange noted that all concluding payouts remain subject to standard product terms, individual account standing, platform risk controls, and regulatory compliance criteria. Users must verify that their accounts are fully capable of receiving funds and complete all required identity verification processes by 23:59 UTC on November 10.
The transition will also see user interface changes across the broader Binance platform. Navigation links pointing to Binance Pool will be removed directly from the exchange’s homepage on the shutdown date. However, to assist users with record-keeping, Binance Pool web pages will remain operational for an additional 14 days, allowing participants to review payout statuses, historical performance data, and ledger records where available.
UK Crypto Trader Loses Nearly $800,000 in Knife Attack as Wrench Attacks Proliferate
Why This Matters
The decommissioning of Binance Pool marks a strategic pivot for the exchange, requiring individual miners and institutional mining operations utilizing the infrastructure to migrate their computational power elsewhere. The transition period necessitates immediate administrative action from platform users: all Binance Pool pages will become permanently inaccessible at 07:00 UTC on November 24. Miners must download and archive their complete transaction histories and performance metrics before the final portal closure permanently cuts off access to historical data.
Frequently Asked Questions
What will happen to hashrate sent to Binance Pool after the cutoff?
Once the cutoff takes place, Binance will disable all mining endpoints. Any hashrate submissions or shares delivered after this point will not be accepted, processed, or credited to accounts.
What must users do regarding Pool Savings and identity checks?
Miners with open Pool Savings balances must unsubscribe or redeem their positions before services end. Furthermore, users must ensure their accounts can accept pending payouts and finalize any necessary identity verification requirements by 23:59 UTC on November 10.
Until when can miners access their historical data on Binance Pool?
Binance Pool pages will stay open for 14 days following the homepage link removal, giving users until 07:00 UTC on November 24 to review and download their transaction history and records before the site is permanently taken offline.
