The world's largest crypto exchange is closing a group of mining products as part of a shift toward trading and stock-linked products.
Binance announced on Tuesday, Oct. 13, that it will shut down its mining pool and several related services on Nov. 10, 2026, at 7:00 a.m. UTC. The exchange said the decision followed an "ongoing review of its product suite," according to The Block. If you mine crypto through Binance or hold its mining-related savings products, you'll need to act before the deadline.
What's closing
The shutdown covers Binance Pool, Pool Savings, Cloud Mining and the Transaction Accelerator, along with Telegram hashrate alerts, email notifications, the mining pool's API and its connection addresses.
A mining pool is a service that combines computing power from many miners so they earn rewards more steadily than they would alone. Miners point their equipment to the pool and receive a share of the rewards. Cloud mining lets people rent mining power instead of owning machines. Pool Savings was a yield product tied to mining.
After the cutoff, any computing power sent to Binance Pool won't be accepted or credited, and no new rewards or yield will build up. Users will still be able to view their history, account records and payout status until Nov. 24, 2026, at 7:00 a.m. UTC, after which those pages will close permanently.
Why Binance is doing it
Binance didn't give a detailed reason beyond its product review. The move comes as the exchange expands into products linked to traditional finance. Binance has said it plans to offer options on more than 1,000 U.S.-listed stocks and ETFs through a broker-dealer regulated in Abu Dhabi, and it says trading volume in its stock-linked perpetual futures jumped from $29.5 billion in January to $433.4 billion in August. It also rolled out an AI-powered trading interface to global English-speaking users on Oct. 12.
What you need to do
If you mine through Binance Pool, redirect your mining equipment to another pool before Nov. 10 so you don't lose any rewards. If you have money in Pool Savings, redeem or unsubscribe from those positions. Binance says eligible outstanding rewards, refunds and settlements will be processed under each product's terms, subject to account status and compliance checks. It's a good idea to download or screenshot your records before Nov. 24, when the history pages disappear.
What this means for your wallet
Most people who simply buy and hold crypto on Binance aren't affected by this change. But it's a reminder that crypto platforms can close products with only a few weeks' notice, and that yield and mining products come with platform risk, the risk that a company changes or ends a service.
If you're earning yield on crypto anywhere, read the terms closely, understand what happens if the product ends and avoid keeping more on any single platform than you're comfortable with. For long-term holders, spreading assets across trusted, regulated providers and keeping good records makes these surprises easier to handle.
Remember too that Binance's availability varies by country. U.S. residents use a separate company, Binance.US, which has its own products and rules.
This article is for education only and is not financial advice. Everyone's situation is different.
Content on The Evergreen Edit is for educational and informational purposes only and is not individualized financial, investment, tax or legal advice. Learn more.
This article is for educational purposes only and isn't personalized financial, tax or legal advice. Consider talking with a qualified professional about your situation.
Kiara Miller — Founder & Editor
Kiara Miller is the founder and editor of The Evergreen Edit. He has been doing independent finance research for two decades and reviews every article before it's published.
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