Binance Pool shutters after two-thirds collapse in mining power
The Bitcoin mining pool, which previously made up roughly 2.3% of total network capacity, closed after its hashrate dropped from about 26 EH/s to 9 EH/s; remaining miners face a Nov. 10 cutoff to move.
Binance Pool, a Bitcoin mining pool that had at one point accounted for roughly 2.3% of the network's total mining capacity, has ceased operations following a steep decline in its computing power.
According to reporting published Oct. 15, 2026, the pool's effective hashrate fell from about 26 exahashes per second (EH/s) in December to roughly 9 EH/s — a reduction of about 65%. The operator has set a cutoff date of Nov. 10 for the pool's remaining miners to transition to another service provider.
The shutdown removes a previously measurable share of aggregate pool capacity and requires affected miners to migrate their operations before the stated deadline.
WHY THIS MATTERS
ANALYSISMiners still connected to the pool must relocate their hashing power before Nov. 10, creating near-term operational and logistical decisions about where to route equipment and hashpower. That movement can affect other pools' share of network work and may prompt short-term shifts in mining traffic as operators rebalance. The closure is notable because the pool had accounted for a nontrivial share of total network capacity prior to the decline; changes in pool composition can matter to miners, pool operators and infrastructure providers that handle miner onboarding and payouts.
Any broader effects on network security, fee markets or long-term pool concentration will depend on where the displaced hashrate relocates and on further adjustments by miners and service providers.
This section is analysis based on the reported facts and is not a claim of additional undisclosed events.
HashFirstGlobal News reports are prepared from publicly available source material.