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Binance shuts down its bitcoin mining pool after six years, and miners must move by Nov. 10
Summary
Binance is discontinuing Binance Pool, Pool Savings, Cloud Mining and related services, Decrypt reported, calling it a retreat from mining infrastructure after six years.
CoinDesk reported that the hashrate pointed at Binance Pool has fallen from 26 EH/s in December to about 9 EH/s, and that the pool once handled 2.3% of the network.
Remaining miners have to choose another provider before a Nov. 10 cutoff, according to CoinDesk.
Key facts
- Binance will discontinue Binance Pool, Pool Savings and Cloud Mining.
- Hashrate fell from 26 EH/s in December to about 9 EH/s.
- Miners must switch providers before Nov. 10.