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Miners must switch their computing power devices to another mining pool before the deadline, and users with the identifier Pool Savings must also redeem their holdings before the service ends.

This closure follows closely on Binance's cessation of its exchange NFT services in July, as well as its expansion into US stocks and tokenized stock business in June.

Binance writes: "As part of our ongoing review of products and services, Binance will cease Binance Pool and related services on November 10, 2026." Binance states: "All services related to Binance Pool will be discontinued. Binance Pool will begin to disconnect mining connections, and Binance Mining Pool Stratum URLs as well as mining endpoints will be disabled. Any computing power and mining shares submitted thereafter will no longer be accepted, processed, or recorded in the ledger."

Pools combine the computing power of multiple miners and distribute block rewards according to their respective contributions. Cloud Mining allows users to purchase shares of computing power without needing to own any hardware; Transaction Accelerator helps users speed up Bitcoin transactions, which may be delayed due to low transaction fees or network congestion.

Data from Hashrate Index shows that Binance Pool was launched in April 2020 and by the end of 2025, it ranked ninth among Bitcoin mining pools, with a computing power of approximately 26 terahashes per second, accounting for about 2.3% of the total network. 1 terahash per second is equivalent to making one quadrillion guesses per second for solving the puzzles that earn block rewards.

The same report states that Binance Pool is the last mining pool still in operation from the era when exchanges were actively involved in mining. Its importance stems more from Binance's exchange and custody services, rather than the mining technology itself.

"It seems that Binance wants to shift to other things, just like Satoshi Nakamoto," the report writes. At the time of this closure, Binance was expanding into traditional finance. Binance, co-CEO Richard Teng, stated that on June 1st, the exchange opened trading for over 7,000 US stocks and ETF to customers outside of the United States, with zero commissions, and it was possible to buy fractional shares starting from as little as $5. Binance also announced bStocks, a feature that will soon be available allowing users to mint tokenized versions of the stocks they purchase on the BNB chain.

Quantmap Co-founder Ivan Patriki told Decrypt at that time that large exchanges entered the stock market because they no longer wanted to rely on the cycles of the crypto market. RWA The chief operating officer of ALCUM Vytautas Mackonis told Decrypt that this business is more complex in structure than it seems on the surface. Binance is just the front-end interface, Nest Trading is the brokerage dealer, and Alpaca Securities is the custodian.

On July 3, Binance also shut down its centralized NFT service and informed users to transfer their tokens to Binance Wallet, which is their self-hosted wallet. At that time, Zhao Changpeng, the then CEO, used the phrase "smooth shutdown of old products" in 2023.

Binance indicates that at 07:00 on November 10th, UTC, Binance Pool will begin to disconnect miners and disable their Stratum URLs, which is the server address that miners use to connect to the mining pool. Shares, namely the proof of work that determines each miner's reward, will no longer be counted after this time; however, shares submitted earlier will still be included in the final reward. Binance states that eligible outstanding rewards, balances, and refunds will be processed later, but compliance with their product rules, account status, and compliance reviews must be met.

Miners must switch their hardware to another mining pool before the deadline, while Pool Savings users need to cancel their subscriptions or redeem their holdings before the service ends. Binance indicates that the mining pool will operate normally until the deadline. Anyone who expects a final settlement must complete the required authentication by UTC on November 10th at 23:59. The Binance Pool page will be accessible until UTC on November 24th, after which it will no longer be accessible permanently.