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1. Binance Pool shutdown: what the final week of data shows
On November 8, 2026, block-explorer data showed that Binance Pool, the Bitcoin mining pool run by the exchange Binance, had found only one block in the previous seven days, roughly 0.11% of the network's output. The pool is scheduled to shut down on November 10, and it once handled more than 2% of Bitcoin's computing power.
The figures come from Mempool.space, which counted about 925 blocks produced on the Bitcoin network across the seven-day window. Binance Pool accounted for one of them. In the 24 hours before the data was reviewed, the pool had not found a single block, a sign of how far the operation has faded from the rankings that track which pools produce Bitcoin's blocks.
The numbers matter because block production is the plainest public measure of a pool's strength. A pool's share of blocks over time tracks the share of the network's hashrate pointed at it. A seven-day tally of one block is therefore a sharp contrast with the position Binance Pool held at its peak, when it ranked among the larger pools in the industry.
For a business that launched in April 2020, the arc from a top-tier pool to near silence took a little over six years. The final week offers the clearest snapshot yet of how thoroughly miners have already moved their machines elsewhere.
2. What was the last block Binance Pool mined?
The most recent block identified as belonging to Binance Pool was block number 974,743. It was mined at 01:15 UTC on November 6, 2026, and contained 1,353 transactions.
The block paid out about 3.134 BTC in total, a figure that combines the fixed subsidy for mining a block with the transaction fees collected from the transactions it included. Bitcoin's subsidy is set by protocol rules and is cut in half roughly every four years, so fees make up an increasingly visible portion of what a block pays.
Nothing in the data indicates that the pool has found a block since then. With the shutdown due within days, each additional block would be a matter of chance rather than a sign of renewed activity, because the pool's remaining hashrate appears to be small.
3. When does Binance Pool close, and which services end?
Binance announced in October that it would disconnect miners from the pool at 07:00 UTC on Tuesday, November 10. The date falls shortly after the one-block week and leaves miners with very little time left on the platform.
The closure is not limited to the mining pool itself. The shutdown also ends several related products: block-reward services, cloud mining, pool savings and the transaction accelerator. Taken together, those offerings made up the mining-related side of Binance's business, and all of them stop under the same announcement.
A mining pool is a service that combines the computing power of many independent miners so that they can find blocks more regularly and split the rewards in proportion to their contribution. Because rewards from a single machine arrive unpredictably, pools smooth the income of participants. When a pool disappears, the participants lose the service that collected and paid out those rewards, though not their equipment.
4. How far has Binance Pool's hashrate fallen?
Binance Pool's hashrate fell by roughly 65% over about ten months. The pool was running at about 26 exahashes per second in December 2025 and had dropped to about 9.2 exahashes per second by October 2026.
Hashrate is the amount of computing work a pool or network performs each second, and an exahash per second represents one quintillion hashes. A drop from 26 EH/s to 9.2 EH/s means the pool lost nearly two-thirds of the computing power it had pointed at Bitcoin's proof-of-work puzzle in a matter of months.
The decline did not begin with the shutdown announcement. The data describes a gradual outflow that was already well underway, which fits the one-block week: by the time the closure date arrived, the pool was a fraction of its former size and its share of blocks had shrunk to match.
Even so, the pool's peak position was considerable. At its height it handled more than 2% of the network's computing power, a stake large enough to place it among the better-known names in the industry. The wind-down shows how quickly hashrate can move once the operator signals that a service is ending.
5. Why one week of blocks cannot reveal the pool's true size
Block discovery is random, so a single week of results cannot establish exactly how much hashrate Binance Pool still controls. Finding one block in a week is consistent with a small pool, but chance can produce unusually good or bad stretches for any operator.
The same statistical logic applies to every pool. A pool holding a given share of the network's hashrate will find roughly that share of blocks over a long period, yet over a short period the count can swing well above or below the expectation. For a pool whose remaining capacity is already small, the swings are proportionally larger, and a handful of blocks more or fewer changes the picture considerably.
That is why the one-block result is best read alongside the pool's earlier hashrate figures rather than as a precise measurement. The earlier numbers, a fall from about 26 EH/s to about 9.2 EH/s, point the same way as the weekly count, and together they describe a pool in steep decline instead of one that merely had a quiet week.
6. Where do Binance's miners go next?
Miners who used Binance Pool can redirect their machines to a different pool without turning them off. Because a pool is a coordination service rather than a piece of hardware, switching generally means changing the address and credentials that the mining equipment connects to.
Binance's exit therefore leaves its remaining miners with a choice of new pools. That choice could raise the share of blocks found by larger competitors, including Foundry USA, AntPool and F2Pool, which already hold substantial shares of the network's block production.
Pool concentration is a recurring topic in the Bitcoin community, since a small number of large pools producing most blocks raises questions about how evenly mining influence is distributed. When a sizeable pool closes and its participants move to the largest remaining operators, the effect can be to concentrate block production further, depending on where the miners choose to go.
The outcome will depend on individual decisions by the miners involved, who weigh fees, payout methods, reliability and reputation. Because the pool's hashrate had already fallen by about 65% before the closure, much of that migration appears to have happened before the final days.
7. How do Bitcoin mining pools work?
A Bitcoin mining pool is a group of miners who connect their machines to a shared server and work on the same block candidate. Bitcoin's network adds a new block roughly every ten minutes, and the miner that finds a valid one earns the block's reward. For a single operator with modest equipment, the odds of winning any given block are very small, and income would arrive in rare, large lumps.
Pools solve that problem by splitting the reward among participants according to the work each one contributed. Miners submit proofs of partial work, called shares, which let the pool measure each participant's effort even when no full block is found. The pool operator takes a fee and distributes the rest, so a miner with a small machine receives a steady, predictable stream of smaller payouts.
The trade-off is that the pool operator coordinates the work. A pool's share of the network's hashrate is the sum of what its connected miners contribute, and that sum changes whenever miners join or leave. This is why pool rankings can move quickly: the machines themselves are owned by the miners, not by the pool, and they can be pointed elsewhere at any time.
It also explains why a pool announcing a shutdown tends to lose hashrate well before the closing date. Participants who expect a service to end have little reason to wait, and moving to another pool takes only a configuration change. The pattern of a long decline followed by a single block in the final week is consistent with that behaviour.
Because the shares are measured continuously, a pool can see a participant's contribution disappear in real time. When a large share of a pool's participants leave together, the remaining operator is left with too little hashrate to find blocks at any regular pace, which is the position Binance Pool appears to be in as its closure approaches.
The practical effect for the broader network is limited. Bitcoin's difficulty adjusts to the total hashrate, and the hashpower that leaves one pool generally reappears in another, so the network keeps producing blocks at its usual rhythm while the distribution among pools shifts.
8. What happens after November 10?
After 07:00 UTC on November 10, miners will no longer be able to connect to Binance Pool, and the block-reward, cloud mining, pool savings and transaction accelerator services will be gone. Block data for the days that follow will show whether any of the pool's remaining hashrate is credited to other operators.
The next points to watch are the share of blocks found by Foundry USA, AntPool and F2Pool, and whether those shares rise as the remaining Binance Pool miners settle elsewhere. Pool rankings are published continuously by block explorers, so any shift should be visible within days.
The closing of the pool marks the end of a service that began in April 2020 and, at its peak, held more than 2% of Bitcoin's computing power. Whatever its reasons for winding it down, the final week's single block shows that for practical purposes the operation had already largely vanished from the network before its official end date.