SBI Crypto to shut down Bitcoin mining pool on July 31

SBI Crypto, the cryptocurrency unit of Japan's SBI financial group, will shut down its Bitcoin mining pool on July 31, ending a five-year operation. The company will stop accepting mining shares at 2200 UTC on July 30 and cease all pool operations the following day.

The company has not publicly stated a specific reason for the closure. In its announcement, SBI Crypto asked miners to continue directing their computing power to the pool until the cutoff to ensure accurate final reward calculations and payouts. Miners must migrate their operations to other pools before the shutdown.

SBI Crypto launched its Bitcoin mining pool in March 2021, entering a market dominated by larger global operators. According to data from SimpleMining, the pool currently ranks as the 12th largest globally, controlling approximately 21.46 exahashes per second, or about 2.24% of the total Bitcoin network's hashrate. This places it far behind market leaders like Foundry USA and AntPool.

The company has recommended several alternative pools for its users, including Braiins, Luxor, and NeoPool. It advised miners to contact these providers directly to understand any special terms or conditions available for...