Binance to shut down its Bitcoin mining pool – Despite $233M in Q3 revenue

Binance is set to shut down its Bitcoin [BTC] mining pool on the 10th of November. However, the decision in no sense means the crypto exchange is exiting Bitcoin mining altogether. Launched in April 2020, Binane pool allowed independent miners to combine their computing power and receive more predictable mining rewards. However, its influence has gradually diminished. Binance Pool dynamics paint a concerning picture According to data by mempool.space, Binance [BNB] Pool's hashrate index fell from approximately 26 exahashes per second (EH/s) in December 2025 to 9.2 EH/s in October 2026. In other words, there was a decline of roughly 65%, taking its estimated share of Bitcoin's network hashrate from 2.3% to less than 1%.

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