Binance's Bitcoin Mining Pool Finds Just One Block in a Week as Shutdown Nears
Key Takeaways
- •Binance Pool mined just one of the roughly 925 Bitcoin blocks produced in the past week, equal to about a 0.11% share, down from a period when it contributed more than 2% of network computing power.
- •The pool's most recent block, 974,743, was mined at 01:15 UTC on November 6 and included 1,353 transactions with roughly 3.134 BTC in total rewards.
- •Binance will disconnect miners at 07:00 UTC on November 10, shutting down a pool that launched in April 2020 along with its cloud mining, pool savings, and transaction accelerator offerings.
- •Per CoinDesk-assessed data, the pool's hashrate dropped from about 26 exahashes per second in December 2025 to roughly 9.2 EH/s by October, a decline of around 65%.
- •Miners leaving Binance Pool can redirect their machines to competitors such as Foundry USA, AntPool, and F2Pool, whose block shares are closely watched as a measure of mining concentration.
Binance's bitcoin mining pool has found just one block over the past week, a dramatic decline for an operation that once handled more than 2% of the Bitcoin network's total computing power.
According to data from mempool.space, Binance Pool produced one of roughly 925 Bitcoin blocks mined during the seven-day observation period, giving it a share of about 0.11%. The pool has found no blocks in the latest 24 hours. Bitcoin's protocol targets a new block roughly every ten minutes — about 144 per day — making a weekly total near 900 blocks the network's normal baseline, one that puts the pool's near-total absence from recent block production in perspective.
Its most recent identified block was 974,743, mined at 01:15 UTC on November 6. The block contained 1,353 transactions and paid approximately 3.134 BTC in rewards, including transaction fees.
The figures come just ahead of Binance's November 10 deadline to shut down the mining pool, which launched in April 2020. In an October announcement, the exchange said it would disconnect miners at 07:00 UTC on Tuesday, ending block-reward services, cloud mining, pool savings, and its transaction accelerator. Because mining pools distribute block rewards to participants in proportion to the computing power they contribute, hardware still pointed at Binance Pool after that cutoff will no longer earn rewards from it.
The decline has been underway for months. Binance Pool's computing power fell from approximately 26 exahashes per second in December 2025 to about 9.2 EH/s in October, a drop of roughly 65%, per data assessed by CoinDesk. One exahash equals one quintillion calculations per second, a unit that underscores the industrial scale of the operation being wound down.
Mining pools combine computing power from independent miners, who can redirect their machines to another provider without shutting them down. A pool's block discoveries also fluctuate randomly, so a week with just one block cannot establish its exact remaining hashrate. Since miners are free to switch providers at any time, the distribution of blocks across pools is widely tracked as an indicator of how concentrated the network's mining power is.
Binance's exit leaves those miners to choose another pool, potentially adding to the already substantial share of Bitcoin blocks found by Foundry USA, AntPool, and F2Pool. Once the 07:00 UTC disconnection takes effect on November 10, the pool should drop out of the network's block statistics entirely, making any migration of its remaining hashrate toward the largest pools visible in the weekly data that follows.
