SBI Crypto, the cryptocurrency subsidiary of Japanese financial giant SBI Group, announced that it will officially close its Bitcoin mining pool on July 31, ending the service launched in 2021; according to Hashrate Index data, the mining pool currently accounts for about 2% of Bitcoin's total network hashrate.
SBI Crypto Mining Pool to Stop Accepting Hashrate Shares on July 31; Miners Must Complete Hashrate Transfer Before That Date
According to the official announcement from SBI Crypto, the mining pool will stop accepting hashrate shares (Shares, records of hashrate contributions used to calculate mining rewards) submitted by miners on July 31, 2026; miners must transfer their hashrate to other mining pools before July 31. The pool system will operate normally until the closure date, and SBI Crypto calls on miner customers to continue mining until the last day to ensure that eligible hashrate shares are included in the final settlement.
SBI Crypto Mining Pool Opened in 2021, Self-Owned Hashrate Approximately 1.1 EH/s
According to reports, the SBI Crypto mining pool officially opened to the public in 2021, and the SBI Group at that time stated it would contribute approximately 1.1 EH/s of self-owned hashrate to support the pool's operation. According to Hashrate Index data, the pool currently accounts for about 2% of Bitcoin's total network hashrate. SBI Crypto did not specify the reason for the closure in its announcement, nor did it release the latest hashrate data for the pool.
Industry Background: Declining Bitcoin Mining Profits, Hashrate Volatility, and Bitcoin Price Drop Jointly Exert Pressure
According to reports, SBI Crypto's closure of the mining pool occurs against the backdrop of ongoing pressure on the Bitcoin mining industry:
Declining Mining Profits: With Bitcoin mining profits falling and network hashrate fluctuating, operational costs are rising, and many miners face a more severe operating environment
Bitcoin Price Drop: Bitcoin's price has fallen significantly since hitting an all-time high last year
Continuous Hashrate Decline: Bitcoin's total network hashrate has been gradually declining since its peak in October last year
Shift of Resources to AI Infrastructure: Some mining companies have begun shifting resources from Bitcoin mining to AI infrastructure businesses
In 2025, SBI Crypto Suffered Approximately $21 Million Hacker Theft
According to reports, SBI Crypto was involved in a hacker theft of approximately $21 million last year; on-chain detective ZachXBT pointed out that the attacker's methods were highly consistent with a North Korean hacker organization. In its announcement regarding the mining pool closure, SBI Crypto did not list that incident as a reason for ceasing operations.
Frequently Asked Questions
When will the SBI Crypto mining pool stop service, and what do miners need to do?
According to the official announcement from SBI Crypto, the mining pool will stop accepting hashrate shares on July 31, 2026; miners must transfer their hashrate to other mining pools before July 31 and continue mining until the last day to ensure final settlement of rewards.
What percentage of Bitcoin's total network hashrate does the SBI Crypto mining pool currently account for?
According to Hashrate Index data, the SBI Crypto mining pool currently accounts for about 2% of Bitcoin's total network hashrate; the SBI Group stated when opening the pool in 2021 that it would contribute approximately 1.1 EH/s of self-owned hashrate, but the current announcement did not disclose the latest hashrate data.
Why is SBI Crypto closing the mining pool?
According to the official announcement from SBI Crypto, the company did not specify the reason for closure; industry background includes declining Bitcoin mining profits, network hashrate volatility, rising operational costs, and Bitcoin's significant price drop from last year's all-time high; SBI Crypto's announcement also did not list the approximately $21 million hacker theft last year as a reason for ceasing operations.
