Hey, Binance is shutting down its mining pool, guys. The news just broke, and it feels a bit sudden! At 7:00 a.m. UTC on November 10, Binance Pool, Cloud Mining, Pool Savings, and other services will all be discontinued. Miners need to move their hashrate to another pool as soon as possible, or they’ll be mining for nothing afterward.
Binance says this is the result of a product review, and its mining pool—which has been operating for six years—is being discontinued. This is a pretty big deal for miners, who need to point their machines to other pools before the deadline. The page will remain available until November 24 so everyone can view their history and settlements. While this won’t have much impact on the Bitcoin network as a whole, since hashrate will shift to other pools, there may be some short-term fluctuations.
My personal take is that Binance is now focusing more on trading, its ecosystem, and AI tools, so the mining pool may have become less profitable or a lower strategic priority. For BTC, greater decentralization of mining could actually be better in the long run. This won’t have much direct impact on BNB either, but platform changes are always worth keeping an eye on.
As for trading, don’t panic-sell over this in the short term—BTC’s support is still holding. Miners who need to sell coins to make adjustments should be careful not to dump the market. I recommend keeping an eye on developments at other mining pools. I’m still bullish on Bitcoin in the long run.
Tap the follow button, and you’ll get the next update sooner!!
$BTC $BNB $ETH
Binance says this is the result of a product review, and its mining pool—which has been operating for six years—is being discontinued. This is a pretty big deal for miners, who need to point their machines to other pools before the deadline. The page will remain available until November 24 so everyone can view their history and settlements. While this won’t have much impact on the Bitcoin network as a whole, since hashrate will shift to other pools, there may be some short-term fluctuations.
My personal take is that Binance is now focusing more on trading, its ecosystem, and AI tools, so the mining pool may have become less profitable or a lower strategic priority. For BTC, greater decentralization of mining could actually be better in the long run. This won’t have much direct impact on BNB either, but platform changes are always worth keeping an eye on.
As for trading, don’t panic-sell over this in the short term—BTC’s support is still holding. Miners who need to sell coins to make adjustments should be careful not to dump the market. I recommend keeping an eye on developments at other mining pools. I’m still bullish on Bitcoin in the long run.
Tap the follow button, and you’ll get the next update sooner!!
$BTC $BNB $ETH