Shares submitted after 07:00 UTC that day will not be credited, and miners have until then to repoint equipment and close Pool Savings positions. Binance gave no reason beyond a review of its products and published no hashrate figure for the pool.
Binance told users on October 13 that it will discontinue Binance Pool and three related services on November 10 at 07:00 UTC. The notice covers the pool itself, Pool Savings, Cloud Mining and the Bitcoin Transaction Accelerator, according to Cryptopolitan, The Cryptonomist and Tech Times. That leaves 28 days between the announcement and the cutoff for anyone currently pointing machines at Binance to find somewhere else to send them. The notice page itself was not reachable from here, so this report rests on those three accounts rather than on the document.
What ends at the cutoff is the plumbing. Binance switches off its Stratum connections and its pool APIs, along with the email and Telegram alerts that tell an operator when a machine has stopped hashing. Shares submitted after that moment are not accepted, processed or credited. Work submitted before it still earns under the existing reward terms. There is no grace period in either direction, which means a miner who forgets to repoint does not accumulate a final balance over the following days. The rigs keep drawing power and produce nothing.
A mining pool is mostly an accounting layer. Machines send shares, proofs of work that fall below the network's difficulty target, to the pool's servers; the pool assembles block templates and, when one of its members finds a valid block, spreads the reward across everyone who contributed. That turns a lottery into something closer to a wage. Closing a pool removes no hashrate from Bitcoin. It moves the accounting, and with it the fee schedule, the payout threshold and the counterparty risk, to whichever pool a miner picks next.
The Transaction Accelerator is a casualty of the same decision rather than a second one. A service of that kind takes a stuck low-fee transaction and arranges for it to be included in a block the operator's own pool mines, which only works while the operator is still assembling templates. Retiring the pool removes the mechanism such a service depends on.
Pool Savings, which paid a return on balances held with the pool, has to be unwound by the account holder. Cryptopolitan and The Cryptonomist both report that users are told to withdraw funds or cancel subscriptions before the shutdown date rather than waiting for an automatic sweep. Outstanding rewards and refunds are to be processed under existing product terms and after a compliance check, which is a different thing from a payout on a fixed date.
There is a second deadline for anyone owed money. Tech Times and The Cryptonomist both report that accounts must complete identity verification by 23:59 UTC on November 10 to receive outstanding balances. Transaction and payment records stay reachable until 07:00 UTC on November 24, after which the pool's pages go dark. Operators who need that history for tax or accounting purposes have two weeks from the shutdown to export it.
Binance gave no reason beyond an ongoing review of its products and services, and it disclosed no hashrate figure for the pool and no financial detail about the decision. Third-party trackers do publish estimates of Binance Pool's share of network hashrate, but the ones available for this report could not be opened at their source, and the figures in circulation mix different observation dates and measurement windows. They are left out here rather than averaged into a number that would look more precise than the evidence is. What can be said without an estimate is that the hashrate pointed at Binance has to go somewhere, and the only destinations are other pools.
Binance is not the only operator trimming a mining-adjacent line this year. IREN booked a $638.8 million impairment retiring rigs to clear halls for AI tenants. Bitdeer raised self-mining hashrate to 79.9 EH/s in August and ended the month holding 61 bitcoin, against 1,934 a year earlier. DATA Network agreed in October to retire its own chain and run on Sui. Binance's notice is narrower than any of those, since it closes a service line rather than a business, and the company has published nothing about what the pool earned or cost.
For a Binance Pool customer the task is narrow and dated. Repoint hashrate before 07:00 UTC on November 10, clear Pool Savings positions before the same cutoff, finish identity verification by 23:59 UTC that day, and pull transaction records before November 24.
