Binance will switch off its mining pool on 10 November at 7 a.m. UTC, the exchange announced on 13 October, The Block reported.
Four products go: Binance Pool, Pool Savings, Cloud Mining and Transaction Accelerator. Telegram hashrate alerts, email notifications, the pool API and the Stratum endpoints are disabled at the same moment.
After the cutoff, hashrate submissions will not be accepted, processed or credited. Miners are told to point their equipment elsewhere and to redeem any Pool Savings positions before the deadline.
Outstanding rewards, refunds and settlements will be processed under the product terms, subject to account status and compliance checks. The report does not say how long that will take.
Pool pages stay viewable until 24 November at 07:00 UTC for historical data and payout status, “where available”, and then become permanently inaccessible.
Binance described the move as part of an ongoing review of its product suite. The Block set it against the exchange’s push into traditional finance. In September it announced plans for physically settled options on more than 1,000 US-listed stocks and ETFs through its Abu Dhabi-regulated broker-dealer. It said TradFi perpetual futures volume reached $433.4 billion in August, up from $29.5 billion in January.
The mining services will be gone within a month.
What has not arrived is a reason. The report does not say how many miners use the pool or how much hashrate it carries, so the size of what disappears is unknown.
