Another traditional giant takes a step back in Bitcoin mining
SBI Crypto, a subsidiary of SBI Group, has announced the shutdown of its mining pool.
The date is set for July 31—no kidding.
This pool’s hashrate accounts for 2% of the total network, ranking 11th—definitely not small.
My first reaction was that this probably isn’t an isolated case.
The broader environment makes it clear: the price at $BTC has seen a halving within a year, and mining profits are as thin as paper.
Last year, SBI Crypto also got pulled into a $21 million hacker attack—security costs simply can’t be kept under control.
The official hasn’t spelled out the reason, but everyone who knows knows.
Key takeaways for miners:
Before the deadline, you must migrate your hashrate, otherwise final settlement could run into issues.
The official recommends alternative pools such as Braiins and Luxor Pool—some even offer relocation incentives, so be proactive and ask to avoid missing out.
Back up historical data ASAP; you’ll need it for tax audits—platforms won’t store it for you.
This also serves as a reminder for regular players.
When choosing a mining pool or service provider, don’t look only at returns—the operator’s fundamentals and security track record are the real deciding factors.
As traditional giants scale back, consolidation among smaller mining pools will only accelerate. The industry is undergoing a shakeout.
In the short term, migrating hashrate may affect mining pool rankings, but the impact on the $BTC network itself is limited—no need to panic excessively.
Disclaimer: This is for information compilation and logical analysis only and does not constitute any investment advice. The market is risky; please do your own research.
$BTC #mining
SBI Crypto, a subsidiary of SBI Group, has announced the shutdown of its mining pool.
The date is set for July 31—no kidding.
This pool’s hashrate accounts for 2% of the total network, ranking 11th—definitely not small.
My first reaction was that this probably isn’t an isolated case.
The broader environment makes it clear: the price at $BTC has seen a halving within a year, and mining profits are as thin as paper.
Last year, SBI Crypto also got pulled into a $21 million hacker attack—security costs simply can’t be kept under control.
The official hasn’t spelled out the reason, but everyone who knows knows.
Key takeaways for miners:
Before the deadline, you must migrate your hashrate, otherwise final settlement could run into issues.
The official recommends alternative pools such as Braiins and Luxor Pool—some even offer relocation incentives, so be proactive and ask to avoid missing out.
Back up historical data ASAP; you’ll need it for tax audits—platforms won’t store it for you.
This also serves as a reminder for regular players.
When choosing a mining pool or service provider, don’t look only at returns—the operator’s fundamentals and security track record are the real deciding factors.
As traditional giants scale back, consolidation among smaller mining pools will only accelerate. The industry is undergoing a shakeout.
In the short term, migrating hashrate may affect mining pool rankings, but the impact on the $BTC network itself is limited—no need to panic excessively.
Disclaimer: This is for information compilation and logical analysis only and does not constitute any investment advice. The market is risky; please do your own research.
$BTC #mining