SBI Crypto to Shut Down Bitcoin Mining Pool Service This July
- SBI Crypto will stop accepting Bitcoin mining shares after 22:00 UTC on July 30, 2026.
- Miners have one month to migrate to alternative mining pools before service officially ends.
- SBI Crypto’s exit redistributes nearly 2% of Bitcoin network hashrate.
SBI Crypto will discontinue its Bitcoin mining pool service at the end of July, marking the conclusion of more than five years of operations. The company confirmed that miners must migrate before the service stops accepting mining shares, while it has not disclosed a specific reason behind the decision.
SBI Crypto Confirms Mining Pool Closure
SBI Crypto announced that its Bitcoin mining pool service will permanently cease operations on July 31, 2026, after five years. The company stated mining shares will no longer be accepted after 22:00 UTC on July 30, requiring participants to switch providers beforehand.
The closure notice was signed by CEO Hiroaki Morita and shared with customers through an official company announcement. However, the notice did not explain why SBI Crypto decided to discontinue its mining pool business after several years.
SBI Crypto launched its public mining pool during 2021 and gradually expanded its presence within the global Bitcoin mining industry. Over time, the platform attracted institutional and independent miners seeking stable mining rewards through a managed pool structure.
Recent data from Hashrate Index showed SBI Crypto controlling nearly 2% of Bitcoin’s total network hashrate before announcing the shutdown. Consequently, its exit removes a notable mining pool from an increasingly competitive market dominated by several larger operators.
Miners Must Transition Before July Deadline
SBI Crypto advised customers to migrate their mining equipment before the final cutoff to avoid interruptions in mining operations and rewards. The company identified Braiins, Luxor Pool, and NeoPool as reference options without formally endorsing any individual mining provider.
Meanwhile, affected miners have approximately one month to redirect their computing power before the mining pool permanently stops processing submitted shares. Final payout schedules and additional operational information will be communicated separately, according to the company’s official customer notice.
Industry participants have already started preparing for the transition as competing mining pools seek to attract displaced Bitcoin miners. OCEAN Mining publicly invited SBI Crypto customers to join its platform while highlighting its payout model and decentralized mining approach.
The migration process is expected to redistribute significant hashrate across competing mining pools during the coming weeks. As a result, several established operators could experience increased participation once SBI Crypto completes its planned exit.
Market Watches Impact on Bitcoin Mining
SBI Crypto’s departure arrives as Bitcoin mining continues evolving through greater competition and increasing concentration among larger mining pools worldwide. Foundry USA, AntPool, and F2Pool currently control the majority of global network hashrate, strengthening their positions within the sector.
Although SBI Crypto recommended several alternative providers, it emphasized that miners remain responsible for selecting their preferred destination independently. Furthermore, the company clarified it assumes no liability for losses resulting from the use of third-party mining services.
The company also avoided linking the shutdown to regulatory issues, technical failures, or previous cybersecurity incidents affecting its operations. Instead, the announcement presented the closure as a planned business decision while expressing appreciation for customer support throughout the service’s lifespan.
The mining industry’s attention now shifts toward how displaced hashrate will be redistributed after the July deadline passes. Any significant movement between mining pools could influence competitive positioning, although the overall security of the Bitcoin network is expected to remain stable.
The post SBI Crypto to Shut Down Bitcoin Mining Pool Service This July appeared first on Live Bitcoin News.
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