The Binance Pool shutdown is set for November 10, and the numbers behind it read like a mining rig left on life support: hashrate has slid roughly 65% in under a year, from about 26 EH/s in December 2025 to around 9.2 EH/s today. Binance told miners they have until November 10 to move their hashrate to another provider, according to CoinDesk’s October 15 report.
Once good for about 2.3% of the Bitcoin network’s total hashrate at its peak, Binance Pool now accounts for roughly 1% and ranks 11th among mining pools – a decline that turned a marquee exchange-branded pool into a rounding error faster than most industry observers expected.
Why the Binance Pool shutdown is happening
Nothing exotic: economics. The pool’s share collapsed as miners consolidated around larger providers with better payouts and deeper liquidity, and Binance’s mining arm was not immune to the post-halving squeeze. Bitcoin’s own price action has not helped – the market spent this week grinding through the $81,000-$84,000 whipsaw after hotter CPI and PPI prints, leaving hash prices thin and marginal operators looking for cheaper power or an exit.
CoinDesk frames the closure as part of broader pool consolidation: fewer service providers are competing for hashrate, which is exactly the condition that makes a shrinking pool hard to justify on a spreadsheet.
What miners should do before November 10
The practical deadline is simple – any miner pointing rigs at Binance Pool has until November 10 to redirect them. Payout structures and stratum endpoints go dark with the shutdown, so waiting until the week of is how missed days turn into missed revenue.
For the wider network, the impact is modest: 9.2 EH/s will find a home elsewhere, likely bumping the receiving pools’ shares rather than denting total difficulty for long. The story here isn’t a security event or an exchange failure – it’s the quiet arithmetic of an industry where scale compounds and everyone else gets consolidated out of the queue.
Binance has not announced a successor product. Miners weighing their options can track pool shares alongside our market-flow coverage as the sector’s consolidations keep playing out.
