Binance Pool Shuts Down November 10: What It Means for Hosted Miners

On October 13, 2026, Binance posted a notice that it will shut down Binance Pool and its related mining services at 07:00 UTC on November 10, 2026. That gives every miner pointed at the pool about four weeks to move their hashrate somewhere else. The notice also ends Pool Savings, Cloud Mining, the Transaction Accelerator, the mining pool APIs and the automated hashrate alerts.

I follow pool news closely because a pool sits between the machines on a site floor and the revenue they earn. When one closes on a fixed date, a lot of ordinary work has to happen on a tight schedule.

What happened

According to crypto.news, at 07:00 UTC on November 10 Binance will disconnect mining equipment and disable its Stratum addresses and mining endpoints. Shares submitted after that moment will not be accepted, processed or credited. Shares submitted before the cutoff stay part of the final reward calculation under the existing product rules.

Binance said the closure follows an ongoing review of its products and services. It gave no further reason and did not name a replacement provider.

The notice lists three other dates:

• November 10, 23:59 UTC: users who still need identity checks or other account steps to receive remaining balances have until this time to finish them.
• Before November 10: Pool Savings users are asked to redeem or cancel their positions.
• November 24, 07:00 UTC: the remaining Binance Pool pages, including mining data, account records and payout status, close permanently.

Unpaid rewards will still be processed after the closure, but crypto.news reports that payment depends on product terms, account status, risk controls, compliance reviews and applicable law, and that Binance does not guarantee immediate payment of all balances.

A shrinking pool in a consolidating market

CoinDesk reports that Binance Pool, which launched in April 2020, held about 26 EH/s in December, or 2.3% of the network. Its latest figure was about 9.2 EH/s, under 1% of the network. CoinDesk also notes that SBI Crypto shut its pool on July 31, 2026, and that Poolin filed for bankruptcy in July 2026.

TechTimes frames the closure against a bigger trend: three pools already account for a majority of bitcoin's hashrate. Each closure of a smaller pool moves more of the network toward the largest operators, which is a long running topic of debate among miners and developers.

How a pool move works on a site

Repointing machines is simple on paper. A technician changes the pool URL and the worker name, saves, and the miner reconnects. At scale it is a batch job. A site with thousands of machines across different models and firmware versions typically moves them in groups, confirms each group is hashing on the new pool, and looks for units that did not take the change. A machine still pointed at a closed endpoint keeps drawing power but earns nothing.

Most miners also carry backup pool entries. If the first pool fails, the machine falls over to the second or third. That design keeps machines working through short outages, and it also means the backup list matters when a pool closes for good. The miner logs and status codes are where a failed connection usually shows up first.

Payout methods differ too. Binance used full pay per share, which pays for submitted work and leaves the timing risk of finding blocks with the pool. Other pools use different methods and fee levels. Two pools can pay different amounts for the same hashrate on the same day, so revenue reports often change after a move even when the machines run exactly the same.

What the industry is watching

• Where the hashrate goes. Coverage so far focuses on whether Binance users move to the largest pools or spread out across smaller ones.
• How hosted fleets handle the change. In hosting deals, pool settings are controlled by the owner in some agreements, by the host in others, and not addressed in some. A fixed shutdown date puts that question in front of both sides at once. Pool control is one of several hosted-miner contract terms that come up in hosting disputes.
• What happens to the history. Pool dashboards hold worker level hashrate, share and payout history. Binance has said those pages close on November 24, so owners and hosts who want that history are downloading it now.
• Balances still owed. Reporting says remaining rewards will be paid subject to Binance's terms and reviews. How quickly that happens will be watched closely, given Poolin's bankruptcy earlier this year.

For readers who work on disputes involving mining operations, my bitcoin mining expert witness page describes the kinds of matters I am retained on.