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Binance Pool finds one block in a week as Nov 10 shutdown approaches

Binance Pool's hashrate share fell to 0.11% on mempool.space. The pool stops accepting shares at 07:00 UTC on Tuesday, six and a half years after launch.

by 4 min read
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Binance Pool mined one Bitcoin block in the seven days before shutdown, out of roughly 925 found across the network. Its public page on mempool.space now shows a hashrate share of 0.11% — far from the 2% band the pool sat in a year ago. Binance's own October 13 announcement sets the disconnect at 07:00 UTC on Tuesday, November 10, 2026, when Binance Pool stops accepting miner shares. CoinDesk's Nov 9 report is the trigger for the hashrate check against mempool data.

What happened

  • Binance Pool found 1 block in the past 7 days (per mempool.space) and zero in the prior 24 hours.
  • Its most recent block is 974,743, mined at 01:15:54 UTC on 2026-11-06 with a 3.134 BTC total reward — blockchain.com explorer view.
  • Pool hashrate dropped from about 26 EH/s in December 2025 to 9.2 EH/s in October 2026, a drop of roughly 65%. The 2026-11-09 entry on mempool.space lists 1.05 EH/s / 0.11%.
  • The pool launched in April 2020. Closure ends five related products: block-reward services, Pool Savings, Cloud Mining, Transaction Accelerator, and the API / Telegram hashrate alerting.

Binance Pool pages stay readable for historical lookups until 07:00 UTC on November 24, 2026, then archive. Shares submitted after the Nov 10 cutoff will not be credited.

Why the share collapsed before the shutdown did

Nothing on-chain tells the full story, but the trajectory is clear from the pool page itself:

  • Hashrate decline is continuous, not step-function, which rules out a single farm leaving at once. Miners rebalance across pools well ahead of an announced closure to avoid the orphan-share risk of switching in the last hour before cutoff.
  • The pool's PPS-model payouts turn negative in expected value for a pool once its share of the network falls below the variance of its block-finding window. Miners on PPS leave early. Those on PPLNS or FPPS can stay later but lose fees as the share trails off.
  • Variance alone will not explain a one-block week at 1 EH/s: expected blocks per day at that hashrate on today's difficulty are ~0.14, so about one every seven days. The variance warning CoinDesk flags — that one week can't fix the exact remaining hashrate — is real, but the mempool page's own time series is what pins the number down.

Numbers

- Shutdown time               : 2026-11-10 07:00 UTC
- Announcement date           : 2026-10-13
- Historical-view cutoff      : 2026-11-24 07:00 UTC
- Pool launch                 : April 2020
- Blocks (past 7 days)        : 1 of ~925 (~0.11%)
- Blocks (past 24 h)          : 0
- Last block found            : #974,743 at 2026-11-06 01:15:54 UTC
- Hashrate Dec 2025 → Oct 2026: ~26 EH/s → ~9.2 EH/s (−65%)
- Hashrate 2026-11-09         : 1.05 EH/s (0.11% share)
- Services ending             : pool, Pool Savings, Cloud Mining,
                                Transaction Accelerator, API/alerts

What to watch

  1. Which pools absorb the hashrate. The three pools positioned to pick up departing miners — Foundry USA, AntPool, F2Pool — publish daily shares on mempool.space. Watch their 7-day shares versus their 90-day baseline over Nov 10–20.
  2. Coinbase addresses in post-Nov 10 blocks. Pool identity leaves a fingerprint in the coinbase string. If Binance miners migrated to a single successor pool, its share should step up at Binance Pool's expense within a difficulty period.
  3. F2Pool and ViaBTC's existing Binance Cloud Mining capacity. Binance's cloud miners rent hashrate from third-party operators; some of that capacity becomes contractually free on Nov 10 and will be relisted elsewhere. Watch for product changes at ViaBTC and NiceHash.
  4. Difficulty adjustment of Nov 13. The next retarget lands close to the cutoff. A ~4% drop would be consistent with expected hashrate churn during a pool wind-down; a flat print would suggest the Binance capacity has mostly found a home already. Blockchain.com's difficulty chart tracks it live.

Context

Binance Pool is the largest exchange-run mining pool to close since OKX Pool wound down in late 2023. Its closure leaves Foundry USA and AntPool as the two pools with persistent share above 25%, and the Ocean / Mara Pool / SpiderPool tier around 2–5% each. The pool's role in Chinese retail mining before the 2021 ban was substantial — its ~26 EH/s peak a year ago still reflected legacy relationships rather than a growing book — so most of the capacity that disappears from Binance's coinbase after Nov 10 is already running somewhere else.

For Binance, the closure is the fourth product sunset in the current round of regulator-facing streamlining (after the Binance France shutdown and two smaller fiat windows). None of those moves is regulatory in origin — they sit in the same voluntary withdrawal track the exchange has been on since the October 29 hot-wallet drain.

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