SBI Crypto to shut down mining pool that holds roughly 2% of Bitcoin's hashrate
SBI Crypto has announced the closure of its Bitcoin mining pool, which currently accounts for approximately 2% of the network's total hashrate. The firm has instructed users to cease operations by a specific cutoff date to ensure final payouts are processed correctly.
Why it matters
The closure highlights the ongoing consolidation and economic pressure within the Bitcoin mining industry, as firms struggle with rising operational costs and a pivot toward AI infrastructure.
The pool will stop accepting mining shares, which represent a miner’s contributions in the pool, on the cutoff date, according to SBI Crypto. Shares submitted after that cutoff will not be accepted, and the firm said the pool is expected to operate normally until the shutdown date.
The report provides a factual account of the shutdown notice and contextualizes it with industry-wide trends without taking a stance on the company's decision.
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