Binance's Bitcoin mining pool has effectively stopped mining with ten days left before its service shutdown. According to blockchain data platform mempool.space, Binance Pool produced just one Bitcoin block over the past seven days. That represents a 0.11% share of the roughly 925 blocks mined across the entire Bitcoin network during the same period, and no new blocks were generated in the past 24 hours.
The last block mined by Binance Pool was block 974,743, created at 1:15 a.m. UTC on the 6th. The block contained 1,353 transactions, and the mining reward including transaction fees totaled about 3.134 BTC. A pool that once accounted for more than 2% of the network's total computing power has effectively gone idle within a week.
Binance announced last month that it would exit the mining pool business. Starting at 7 a.m. UTC on the 10th, it will disconnect miners and wind down its block reward service, cloud mining, pool savings products, and transaction acceleration service in stages. The withdrawal comes about six and a half years after the pool launched in April 2020.
The erosion of mining competitiveness had been underway for months. Binance Pool's hashrate fell from about 26 exahashes per second (EH/s) in December 2025 to 9.2 EH/s in October. Roughly 65% of its total computing power disappeared in ten months.
Note: Based on mempool.space and CoinDesk data
Some observers caution, however, that block generation is subject to significant probabilistic variation, making it difficult to gauge a pool's remaining hashrate precisely from a single week's results. Mining pools aggregate the computing resources of multiple miners to generate blocks and split rewards, so short-term performance does not directly reflect total computing power.
When Binance Pool closes, existing participating miners can move their equipment to other pools rather than shutting down. In that case, additional computing power could flow to major pools that already hold large shares, such as Foundry USA, AntPool, and F2Pool. Some expect concentration in the mining pool industry to deepen further.
The Bitcoin mining market continues to consolidate around large pools. Binance's exit is a case of mining infrastructure operated as a side business by an exchange being wound down amid deteriorating profitability, and attention is focused on how the remaining miners' pool choices will reshape the distribution of block generation going forward.
