SBI Crypto has announced it will shut down its Bitcoin mining pool on July 31, 2026, ending a service that accounts for approximately 2% of the network's hashrate.
- Miners must redirect their hashrate before the July 31 cutoff, as the pool will stop accepting contributions after that date.
- SBI Crypto did not disclose a specific reason for the closure, which occurs amid pressure from falling bitcoin mining margins and rising operational costs.
The company urged customers to keep mining with the pool until the cutoff so eligible shares are included in the final payout calculation.
SBI Crypto's mining pool, according to data from Hashrateindex, accounts for roughly 2% of the Bitcoin network's total hashrate. The firm did not disclose a reason for the closure in its shutdown notice.
SBI Crypto operates under SBI Group, the Japanese financial conglomerate. The mining pool opened to the public in 2021, with SBI saying at the time that it would support the pool with roughly 1.1 EH/s of its own mining power.
The shutdown comes as bitcoin mining remains under pressure from lower margins, volatile hashrate and rising operational costs. Bitcoin’s hashrate has been falling from its October high as the cryptocurrency’s price drops and some miners pivot to AI infrastructure operations.
Bitcoin’s price has fallen 50% over the past year.
