Bitcoin mining pool once handling 2.3% of network shuts after hashrate falls 65%
Computing power directed at Binance Pool has fallen from 26 EH/s in December to about 9 EH/s. Its remaining miners must choose another provider before a Nov. 10 cutoff.
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Summary
- Binance will close its bitcoin mining pool and related services on Nov. 10, giving miners about four weeks to move their computing power elsewhere.
- Binance Pool’s computing power has fallen about 65% since December, to roughly 9.2 exahashes per second, or less than 1% of Bitcoin’s network.
- The closure follows other industry exits and could further concentrate block production among Foundry USA, AntPool and F2Pool, which together control about 64% of the network’s computing power.
