Binance will discontinue its mining pool and all related services on Nov. 10, the exchange announced Tuesday, ending an operation that has run for more than six years. The shutdown covers Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator, mining pool APIs and hashrate notifications.

The mechanics of the wind-down are strict. After the deadline, Binance will disable its mining endpoints and disconnect miners from the pool outright. The exchange will no longer accept hashrate submissions, and mining shares received after the cutoff will not be credited. Affected products will stop generating rewards and yields.

What must miners do before the deadline?

Binance urged miners to redirect their computing power to alternative pools before Nov. 10 to avoid service interruptions. Users holding active Pool Savings positions were advised to redeem or unsubscribe ahead of closure.

The exchange said it will process eligible outstanding rewards, balances, refunds and settlements after the shutdown. That processing, however, remains subject to applicable product rules and compliance checks — a qualifier that leaves the timeline and scope of payouts unspecified.

How long will records remain accessible?

Historical mining records and payout information will stay available until Nov. 24, roughly two weeks after the shutdown. After that date, the pool's pages become permanently inaccessible. In plain terms: miners who delay documentation retrieval lose it for good.

Why is Binance closing the pool?

The company attributed the closure to an ongoing review of its products and services. It did not provide a specific reason. That omission is notable; a six-year-old business line serving Bitcoin and other proof-of-work networks does not typically close without an operational or regulatory rationale stated on the record.

Binance launched its mining pool in April 2020, initially supporting Bitcoin (BTC) mining before expanding to other cryptocurrencies. Cointelegraph reached out to Binance for further comment and did not receive an immediate response.

What does this mean for the mining market?

The closure removes one integrated venue where miners could pool hashrate, park savings and access exchange liquidity within a single platform. Miners now face migration friction: reconfiguring endpoints, re-establishing payout addresses and finding substitute pools before Nov. 10.

For Binance, the move continues a pattern of pruning peripheral business lines as the company operates under a U.S. monitorship following its 2023 settlement with the Department of Justice — though the company itself did not link the decision to any compliance matter. Claims of a simple portfolio review deserve scrutiny precisely because the exchange said so little.

The immediate operational window is short. Miners have until Nov. 10 to migrate hashrate, until Nov. 24 to retrieve records, and no stated deadline at all for final settlements — the last gap being the one users should watch most closely.