Crypto change Binance is shutting down its mining pool and associated providers in November, ending an operation that has been working for over six years.
On Tuesday, Binance said it could discontinue Binance Pool on Nov. 10. The shutdown additionally covers Pool Financial savings, Cloud Mining, Transaction Accelerator and associated options, together with mining pool APIs and hashrate notifications.
After the deadline, Binance stated it could disable its mining endpoints and disconnect miners from the pool. The change will not settle for hashrate submissions or credit score mining shares acquired after the cutoff. Affected merchandise will cease producing rewards and yields.
The corporate attributed the closure to an ongoing overview of its services however didn’t present a particular purpose for the choice.
Binance urged miners to redirect their computing energy to various mining swimming pools earlier than the deadline to keep away from interruptions. Customers with energetic Pool Financial savings positions had been additionally suggested to redeem or unsubscribe earlier than the closure.
Binance stated eligible excellent rewards, balances, refunds and settlements could be processed after the shutdown, topic to relevant product guidelines and compliance checks. Customers may have till Nov. 24 to entry historic mining data and payout data earlier than the pool’s pages change into completely inaccessible.
Binance launched its mining pool in April 2020, initially supporting Bitcoin (BTC) mining earlier than increasing to different cryptocurrencies.
Cointelegraph reached out to Binance for extra data however didn’t obtain a right away response.
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Cointelegraph by Ezra Reguerra Binance to Shut Down Crypto Mining Pool in November cointelegraph.com 2026-10-13 05:23:26
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