Bitcoin mining pool once handling 2.3% of network shuts after hashrate falls 65%
Summary
Binance will close Binance Pool and related services at 7 a.m. UTC on Nov. 10, giving miners about four weeks to move their machines and customers time to redeem savings and complete payouts. The exchange cited a review of its services but gave no financial reason. Binance Pool’s estimated hashrate fell from 26 EH/s in December to about 9.2 EH/s, a roughly 65% decline. Its departure may further concentrate Bitcoin mining: Foundry USA, AntPool and F2Pool already account for about 64.2% of block production. Binance has not said where its remaining miners will go or disclosed any outstanding balance from its earlier $500 million mining loan program.
