Binance to ShutDown Binance Pool and Cloud Mining on Nov 10

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What the Binance Pool Shutdown Covers

Binance Pool launched in April 2020 as a Bitcoin pool on an FPPS payout model. Over time it added an ETH pool, a multi-coin Smart Pool, and other assets.

Now the whole stack closes at once. Mining connections drop at the cutoff, and the Stratum URLs and API endpoints switch off. After that point, Binance will not accept, process, or credit any hashrate or shares.

Pool Savings let miners park daily earnings for a small floating yield, historically near 1.5% APY. Cloud Mining sold hashrate contracts to users who owned no hardware. The Transaction Accelerator helped push stuck Bitcoin transactions toward faster confirmation. All of them end on the same day.

The Shutdown Timeline and Key Deadlines

Binance published the notice late on October 12 and dated it October 13. Until the cutoff, the pool keeps running as normal.

The cutoff itself is 07:00 UTC on November 10. At that moment, mining stops and the endpoints go dark. Still, eligible shares submitted before the cutoff count in the final reward calculation.

Two later deadlines matter just as much. First, users should finish any KYC or account steps by 23:59 UTC on November 10 to keep payouts on schedule. Then historical data, account records, and payout-status pages stay reachable only until 07:00 UTC on November 24. After that date, access ends permanently.

What Happens to Rewards and Balances

Binance says it will handle outstanding rewards and balances after the cutoff. According to the notice, eligible rewards, refunds, and settlements get processed once mining stops on November 10.

Still, the payout is not automatic for everyone. Binance ties eligibility to its Mining Pool Product Terms, plus account status, risk controls, compliance, and local law. So miners with pending Pool Savings positions should redeem or unsubscribe before the deadline.

In practice, timing drives the outcome. Binance can delay or withhold a payout during a compliance or risk review, and dormant accounts may face extra checks. So active miners who clear KYC early face the fewest obstacles.

What Miners Need to Do Before the Cutoff

The clock is the real problem here. Miners have under a month to move their machines somewhere else.

First, point your rigs at a new pool and update the Stratum endpoints before November 10. Next, redeem any Pool Savings balance and close out Cloud Mining positions. Finally, download your mining records and payout history before November 24, because that data disappears afterward.

Binance has not named a replacement pool. As a result, migrating hashrate will likely spread across the largest operators.

Why the Binance Pool Shutdown Is Happening

Binance frames the move as part of an ongoing review of its products and services. The company gave no further reason, and secondary coverage from Cointelegraph and others noted the same gap.

The pool also has history behind it. Binance added its Ethereum pool in November 2020, then dropped BSV mining in July 2021. This year it has trimmed other lines too, including its centralized NFT marketplace. So the mining exit fits a wider 2026 cleanup rather than a standalone retreat.

The numbers add context. Binance Pool has mined roughly 2% of all Bitcoin blocks over its lifetime, about 22,188 in total. Recent network share sits in the low single digits, near 1% to 3% depending on the window, according to trackers such as mempool.space.

Its footprint is still visible on-chain. Binance Pool blocks carry coinbase tags such as “binance/995x” and “binance/1008”, which let anyone trace its recent output. Even so, those blocks now arrive rarely next to the market leaders.

Meanwhile, the pool market has concentrated around Foundry USA, AntPool, ViaBTC, and F2Pool. For an exchange running a small, low-margin pool, the exit reads like consolidation rather than crisis. So far, no regulator has any public link to the decision.

What Comes Next for Affected Miners

Migration is the immediate story. Miners could shift toward the dominant pools, or toward smaller options such as OCEAN or Braiins, though Binance names no destination.

Scale explains the likely winners. Foundry USA and AntPool already command large slices of network hashrate, so they can absorb new miners with ease. Smaller pools such as OCEAN and Braiins instead appeal to miners who want more decentralization.

So far, the market reaction looks muted. Analysts report no meaningful move in Bitcoin or BNB prices tied to the news, and the network hashrate has not jumped. In short, this reads as an operational change for miners rather than a market event.

The key date to watch is November 24, when records access closes for good. Until then, affected miners should migrate early and keep copies of everything. This article is informational only and not financial advice.