Binance gives miners four weeks

Binance said on Tuesday it will discontinue Binance Pool, its mining pool, along with Pool Savings, Cloud Mining and Transaction Accelerator, "as part of our ongoing review of products and services", in a notice published at 03:00 UTC. The services end at 07:00 UTC on 10 November, four weeks after the notice by our count. From that time, the exchange says, it will begin disconnecting mining connections and disable its Stratum URLs and mining endpoints, and hashrate submitted afterwards will not be credited.

The notice lists related features that go with the pool: Telegram hashrate alerts, email notifications and the mining pool API. Miners are told to reconfigure their machines to point to a different pool before the deadline to avoid interruptions. Eligible shares submitted before the cutoff count toward the final reward calculation under the pool's rules, the notice says, and users with active Pool Savings positions are asked to redeem or unsubscribe before the service ends.

Payments still owed follow a set path. Eligible outstanding rewards, balances, refunds or settlements will be processed after the cutoff, subject to product rules, account status, risk controls, compliance checks and applicable law. Users are asked to complete any required identity verification by 23:59 UTC on 10 November. Binance Pool pages will stay viewable for historical records until 07:00 UTC on 24 November, after which they become permanently inaccessible, and the notice tells users to download any records they need.

The review is the only reason the notice gives. The Block, which reported the closure, placed it alongside the exchange's recent product choices. Last month, it reported, Binance announced plans for physically settled options on more than 1,000 US-listed stocks through Nest Trading, its broker-dealer regulated in Abu Dhabi Global Market. The Block also reported traditional-finance perpetual futures volume of $433.4bn in August, up from $29.5bn in January, and said Binance rolled out an AI-powered trading interface to global English-language users on Monday after a beta of about 150,000 users. We have not verified the volume figures.

By our arithmetic, the August figure is about 14.7 times January's. If it holds, the exchange's growth is coming from products that look like conventional markets, which mining services do not. That is an inference from the product list, not a statement from Binance. The company has not said how large the pool was, how many miners it served or whether it will point them to a successor, and the notice does not address those points.

For miners the change is mainly logistics. Miners who direct hashrate to a pool are paid in proportion to the shares they submit, so a pool's closure forces a switch to another operator and, for holders of Pool Savings positions, a decision on redemption. Four weeks is enough time to repoint hardware. Cloud Mining users run on the same schedule. The exchange itself is not closing, and the notice does not mention its spot or derivatives businesses.

The move sits alongside the exchange's push into instruments that mirror equity markets, which we have followed in perpetual futures on individual stocks and the limits some venues put on leverage. Mining has its own, separate shift, as operators reposition as grid assets.