Binance Pool Finds Just One Bitcoin Block in a Week Ahead of November 10 Shutdown
Binance Pool has discovered just one Bitcoin block over a seven-day period, highlighting the sharp decline in its mining activity ahead of the cryptocurrency exchange's planned shutdown of the service on November 10. The mining operation, which previously accounted for more than 2% of Bitcoin's total network computing power, recorded a block share of approximately 0.11% during the latest observation period.
Data from mempool.space shows that Binance Pool mined one of approximately 925 Bitcoin blocks produced across the network over the seven days. The pool also recorded zero block discoveries during the latest 24-hour period covered by the data.
Its latest identified block was Bitcoin block 974,743, mined at 01:15 UTC on November 6. The block contained 1,353 transactions and generated approximately 3.134 BTC in rewards, including transaction fees.
Binance Pool Prepares to End Bitcoin Mining Services
The decline comes just days before Binance's scheduled termination of its mining pool operations. The service, which launched in April 2020, is approaching its November 10 shutdown deadline.
In an announcement published in October, Binance said it would disconnect miners at 07:00 UTC on Tuesday, November 10. The decision will bring an end to several services offered through the platform, including block rewards, cloud mining, pool savings and its transaction accelerator.
The shutdown marks the end of Binance Pool's participation in Bitcoin mining after more than six years of operations. Miners using the platform will need to select alternative providers if they intend to continue contributing computing power to Bitcoin's network through a mining pool.
Binance Pool Hashrate Falls Approximately 65%
The reduction in block discoveries follows a substantial decline in Binance Pool's computing capacity over recent months.
Data assessed by CoinDesj indicates that the pool's hashrate dropped from approximately 26 exahashes per second (EH/s) in December 2025 to around 9.2 EH/s in October. That represents a decline of roughly 65% during the period.
Mining pools operate by combining computing resources from multiple independent miners to increase their collective chances of discovering Bitcoin blocks. Individual miners can redirect their equipment to another pool without having to shut down their machines.
However, block discoveries are subject to statistical fluctuations. A mining pool can experience periods with unusually few or many successful blocks, meaning the discovery of just one block over seven days does not independently establish its precise remaining hashrate.
Binance Exit Could Reshape Bitcoin Mining Pool Distribution
Binance Pool's departure will require miners connected to the service to choose alternative mining providers. Their decisions could influence how Bitcoin's overall mining activity is distributed among the remaining pools.
Foundry USA, AntPool and F2Pool are among the established mining pools already responsible for a substantial share of Bitcoin block production. The redistribution of computing power previously connected to Binance Pool could potentially add to their existing network participation.
Nevertheless, the extent to which these providers benefit will depend on where former Binance Pool miners decide to redirect their equipment.
With the November 10 deadline approaching, Binance's latest block production figures highlight how sharply its mining activity has contracted ahead of the planned closure. The shutdown will mark another change in the distribution of computing power across the Bitcoin mining industry.
source: coindesk
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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