SBI Crypto has announced it will shut down its Bitcoin mining pool on July 31, 2026, ending a service tied to one of Japan's largest financial groups and giving miners less than a month to redirect their hashrate.
The pool will stop accepting mining shares on the cutoff date, and shares submitted after that will not be accepted. The company urged customers to keep mining until the cutoff to be included in the final payout calculation.
According to data from Hashrateindex, SBI Crypto's mining pool accounts for roughly 2% of the Bitcoin network's total hashrate. The firm did not disclose a reason for the closure, nor did it provide current hashrate figures.
SBI Crypto operates under SBI Group, the Japanese financial conglomerate. The mining pool opened to the public in 2021, with SBI initially supporting it with about 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 from an all-time-high.
SBI Crypto was also linked to a reported $21 million hack last year, with blockchain investigator ZachXBT pointing to signs similar to North Korean state-backed attacks. However, the shutdown notice does not cite the incident as a reason.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!