Binance Pool Mines One Bitcoin Block in a Week Before Tuesday Shutdown

Binance Pool found one of the 916 bitcoin blocks mined over the past week, about 0.11%, mempool.space data showed at 6:04 a.m. ET Monday. The pool shuts at 07:00 UTC Tuesday, which is 2 a.m. ET.

Any miner still connected after that time earns nothing for the work. Binance's Oct. 13 notice says shares submitted after the cutoff "will no longer be accepted, processed, or credited."

How a mining pool pays

A single machine almost never finds a block on its own. A pool combines thousands of miners' computing power, and when any of them finds a block, the reward (3.125 new bitcoin plus fees) is split by how much work each one sent. Miners can point the same machines at a different pool by changing one server address, without turning anything off.

Binance Pool's last block was No. 974,743, found at 9:15 p.m. ET on Nov. 5 with 1,353 transactions, per mempool.space. It found none in the latest 24 hours. Over its life it has mined 22,213 blocks, the same data show.

Bitcoin.com News reported on Oct. 13 that the pool, launched in April 2020, was the ninth-largest by hashrate and was mining about three blocks a day. Binance's notice gave no reason for the closure.

What else closes, and what to save

Pool Savings, Cloud Mining, the Transaction Accelerator and the pool's API and alerts all end at the same cutoff. Binance tells users to redeem Pool Savings positions before then and to finish any identity checks by 23:59 UTC Tuesday so leftover rewards can be paid.

The week's block count also shows where the hashrate sits now. Foundry USA found 227 blocks, AntPool 173 and F2Pool 160, mempool.space shows. A week with one block is a small sample, and block luck swings, so it can't pin down how much computing power is still connected to Binance Pool.

Binance Pool's history pages, including payout records, stay viewable until 07:00 UTC on Nov. 24. After that, Binance says, they go offline for good.