đ¨ Breaking: Binance just announced itâs âpulling the plugâ today! After 6.5 years in operation, Binance Pool will officially shut down on November 10.
In plain English: Binance is getting out of the mining pool business, so miners will have to move their machines elsewhere.
đ Save this timeline (all times are UTC):
November 10, 07:00 â Official disconnection: mining machines wonât be able to connect, submitted hashrate will no longer be accepted, and payouts will stop.
Pool Savings users: Redeem your funds before November 10âdonât put it off.
Anyone who hasnât completed identity verification: Get it done by November 10, 23:59, or your settlement may be affected.
You can access your historical records until November 24, 07:00. After that, the page will be permanently closed.
đĄ The upsides:
1ď¸âŁ A clean exit: The full timeline is laid out, so the shutdown is clear and straightforward.
2ď¸âŁ No funny business with balances: Hashrate submitted before the deadline will still count, and eligible rewards and refunds will still be paid after the shutdown.
3ď¸âŁ Spot and futures trading are completely unaffectedâbusiness as usual.
â ď¸ The downside, in a nutshell: Mining machine users need to find a new pool now and switch their configurations before November 10. Donât sleep on it.
The pool launched in April 2020, starting with $BTC mining. Along the way, it also ran a $500 million mining company loan program. And now, after 6.5 years, itâs closing just like that. The official explanation: routine product line adjustments.
(Source: Binanceâs official announcement on October 13; reports by crypto.news / Cointelegraph.)
That said, Binance is already cutting older businesses. What do you think will be the next product to get âoptimizedâ away? Let us know in the comments.
For informational purposes only. This is not investment advice.
In plain English: Binance is getting out of the mining pool business, so miners will have to move their machines elsewhere.
đ Save this timeline (all times are UTC):
November 10, 07:00 â Official disconnection: mining machines wonât be able to connect, submitted hashrate will no longer be accepted, and payouts will stop.
Pool Savings users: Redeem your funds before November 10âdonât put it off.
Anyone who hasnât completed identity verification: Get it done by November 10, 23:59, or your settlement may be affected.
You can access your historical records until November 24, 07:00. After that, the page will be permanently closed.
đĄ The upsides:
1ď¸âŁ A clean exit: The full timeline is laid out, so the shutdown is clear and straightforward.
2ď¸âŁ No funny business with balances: Hashrate submitted before the deadline will still count, and eligible rewards and refunds will still be paid after the shutdown.
3ď¸âŁ Spot and futures trading are completely unaffectedâbusiness as usual.
â ď¸ The downside, in a nutshell: Mining machine users need to find a new pool now and switch their configurations before November 10. Donât sleep on it.
The pool launched in April 2020, starting with $BTC mining. Along the way, it also ran a $500 million mining company loan program. And now, after 6.5 years, itâs closing just like that. The official explanation: routine product line adjustments.
(Source: Binanceâs official announcement on October 13; reports by crypto.news / Cointelegraph.)
That said, Binance is already cutting older businesses. What do you think will be the next product to get âoptimizedâ away? Let us know in the comments.
For informational purposes only. This is not investment advice.