SBI Crypto has announced plans to shut down its mining pool on July 31, marking the end of a service that has been associated with one of Japan’s significant financial groups. This decision gives miners less than a month to redirect their hashrate, as the pool will cease accepting mining shares—essentially representing each miner’s contributions to the pool—on the cutoff date. The company has stated that shares submitted after this date will not be accepted, emphasizing that the pool is expected to continue functioning normally until the shutdown.
In its announcement, SBI Crypto urged miners to keep contributing to the pool until the cutoff date, as eligible shares will be factored into the final payout calculations. Current data from Hashrateindex indicates that SBI Crypto’s mining pool contributes approximately 2% of the total hashrate for the Bitcoin network. However, the firm has not provided a specific reason for the closure in its announcement, nor did it release the current hashrate figures for the pool.
Operating under SBI Group, a prominent Japanese financial conglomerate, SBI Crypto launched its mining pool to the public in 2021. At that time, the firm claimed it would support the pool with around 1.1 EH/s of its own mining power, aiming to strengthen its foothold in the cryptocurrency space. The impending closure is likely to have implications for miners who depend on the pool for their operations, as they will need to seek alternative solutions in the coming weeks.
