Binance Pool's Bitcoin mining activity has collapsed ahead of its scheduled November 10, 2026, shutdown, with the operation producing only one block over seven days. According to mempool.space, Binance Pool accounted for approximately 0.11% of the 925 Bitcoin blocks generated networkwide during the observation period.
The mining operation, launched in April 2020, previously controlled more than 2% of Bitcoin's computing power.
Blockchain data shows Binance Pool's latest identified block was 974743, mined on November 6 at 01:15 UTC. The block contained 1,353 transactions and generated approximately 3.134 BTC in mining rewards, including transaction fees.
According to CoinDesk, Binance Pool produced no additional blocks during the latest 24-hour period, highlighting its declining participation in Bitcoin mining.
However, block discoveries depend partly on probability, meaning short-term production figures cannot independently establish remaining computing power.
Binance announced in October that it would discontinue its Bitcoin mining pool operations. According to the exchange's announcement, miners will be disconnected starting November 10 at 07:00 UTC.
The shutdown will affect several services, including ‘block-reward services, cloud mining, pool savings and its transaction accelerator.’ The decision ends approximately six-and-a-half years of Binance's mining pool operations.
Binance Pool's declining performance reflects a substantial reduction in computing resources. According to figures, the pool's hashrate decreased from approximately 26 exahashes per second in December 2025 to 9.2 EH/s in October 2026. That represents a decline of approximately 65% within ten months. The reduction indicates miners had already begun withdrawing computing power before the official closure.
Mining pools combine independent miners' computing resources to improve their chances of discovering Bitcoin blocks and distributing rewards. Following Binance's withdrawal, participating miners can redirect their equipment toward alternative operators without necessarily shutting down operations.
Major providers, including Foundry USA, AntPool and F2Pool, could consequently attract additional computing power.
Such migration could increase concentration among established mining pools, raising questions about Bitcoin's mining decentralization. The distribution of departing miners will determine whether Binance's exit materially changes the network's competitive landscape.
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