Binance Mining Pool to Close November 10, Prompting Miner Migration

Binance is preparing to discontinue Binance Pool and its associated services at 07:00 UTC on November 10, 2026, bringing its Bitcoin mining operations on the platform to a close.

The exchange has instructed miners to move their equipment and redirect their hashrate to other mining pools before the deadline. According to Binance’s announcement, submissions and mining shares received after the cutoff will not be accepted, processed, or credited.

Meanwhile, BNB, the cryptocurrency linked to Binance and the BNB Smart Chain ecosystem, was trading at around $740, down approximately 0.5% over the previous 24 hours. Its daily trading volume was reported at about $561 million.

Binance Pool Closure: What Miners Should Know

The shutdown will cover Binance Pool, Cloud Mining, Pool Savings, and Transaction Accelerator. Related services, including Stratum connections, mining-pool APIs, and email and Telegram alerts, will also be discontinued.

Miners must switch to another pool and close their Pool Savings accounts before the services end. Any outstanding rewards or refunds that qualify for payment will be handled according to the applicable product terms and compliance checks.

Users can continue reviewing their mining transaction histories until 07:00 UTC on November 24, 2026, two weeks after the scheduled shutdown.

Binance has not announced a specific date for automatic payouts or provided a detailed explanation of how final settlements will work. Users should review the relevant product conditions and official notices to determine how their remaining balances will be handled.

The exchange shared the closure announcement through social media, describing the move as part of a broader assessment of its product lineup. However, it has not revealed the financial or operational factors behind the decision.

While the shutdown schedule is clear, the reason for discontinuing Binance Pool remains undisclosed.

Binance Develops AI Tools and Traditional Market Products

Launched in April 2020, Binance Pool offered Bitcoin miners a Full Pay-Per-Share payment model. The planned shutdown will end approximately six years of mining services on the platform.

Meanwhile, Binance continues to build out its artificial intelligence and traditional financial market offerings. There is no confirmed evidence that these developments directly contributed to the decision to close its mining business.

On October 12, the exchange introduced a free AI market assistant following a beta-testing phase that involved roughly 150,000 users. The tool provides market insights and guidance but does not execute trades autonomously.

Binance has also expanded its U.S. equities offering through Nest Trading and announced plans for physically settled options covering more than 1,000 U.S. stocks and exchange-traded funds (ETFs).

The Block reported that trading volume for Binance’s traditional-finance perpetual futures increased from $29.5 billion in January to $433.4 billion in August. This growth illustrates the changing composition of the exchange’s product portfolio, but it does not explain the decision to discontinue mining services.

BNB Market Update: Key Price Levels

Separately, BNB traded at approximately $740.27 on October 14, based on the figures cited in the report. CoinGecko data showed the token rising 0.5% over 24 hours while remaining 4.4% lower over the previous seven days.

Its market capitalization was estimated at $98.57 billion, with daily trading volume of approximately $555.82 million. BNB remained significantly below its all-time high of $1,369.99 as recent selling pressure weighed on the market.

The $736–$718 range could serve as a near-term support zone, while resistance around $746 and $775 may limit upward movement.

A sustained move above resistance could strengthen the case for a recovery. However, a break below support could expose BNB to further declines.

The token’s performance will also depend on broader crypto market sentiment and activity across the BNB Chain ecosystem. Greater use of network applications and services could help underpin demand for BNB.

Until buying activity strengthens, subdued trading volume may keep market participants cautious. Bitcoin’s price action will also remain an important factor in determining the broader cryptocurrency market’s next direction.