SBI Crypto to shut down mining pool that holds roughly 2% of Bitcoin's hashrate

Finance SBI Crypto to shut down mining pool that holds roughly 2% of Bitcoin's hashrate Miners must redirect their hashrate before the July 31 cutoff, as the pool will stop accepting contributions after that date. By Francisco Rodrigues | Edited by Nikhilesh De Jul 2, 2026, 2:44 p.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Summary Show SBI Crypto will shut down its Bitcoin mining pool on July 31, 2026, ending a service that accounts for approximately 2% of the network's hashrate. Miners must redirect their hashrate before the July 31 cutoff, as the pool will stop accepting contributions after that date. SBI Crypto did not disclose a specific reason for the closure, which occurs amid pressure from falling bitcoin mining margins and rising operational costs. SBI Crypto has announced it will shut down its mining pool on July 31, 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, which represent a miner’s contributions in the pool, on the cutoff date, according to SBI Crypto. Shares submitted after that cutoff will not be accepted, and the firm said the pool is expected to operate normally until the shutdown date. The company urged customers to keep mining with the pool until the cutoff so eligible shares are included in the final payout calculation. SBI Crypto's mining pool, according to data from Hashrateindex , accounts for roughly 2% of the Bitcoin network's total hashrate. The firm did not disclose a reason for the closure in its shutdown notice, and it did not provide current hashrate figures for the pool. SBI Crypto operates under SBI Group, the Japanese financial conglomerate. The mining pool opened to the public in 2021 , with SBI saying at the time that it would support the pool with roughly 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 BTC $ 61,579.37 's price has fallen 50% over the past year from an all-time-high reached in the fall. 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. SBI’s shutdown notice does not cite the incident as a reason for closing the pool. Bitcoin Mining Related Assets Bitcoin $ 61,579.37 3.56 % Latest Crypto News 1 Ondo Finance debuts SEC-aligned tokenized stock model with BlackRock ETF, Micron shares 30 minutes ago 2 JPMorgan says Strategy's bitcoin sales policy adds 'two-way risk' to crypto markets 1 hour ago 3 U.S. payroll growth slowed sharply in June, with only 57,000 jobs added 2 hours ago 4 A struggling Nasdaq-listed company that tried to copy Saylor's Bitcoin playbook is completely dumping crypto for AI 2 hours ago 5 Three years after MiCA became law, Europe's crypto framework is undergoing a rethink 2 hours ago 6 Warsh's comments set the stage for U.S. jobs data to ignite bitcoin, gold rally 2 hours ago 7 Smaller tokens lead as bitcoin, sol rally in 'first real bounce of the selloff' 3 hours ago 8 Bitcoin rises 4% to above $61,000 as inflation fears soften 4 hours ago 9 ChatGPT developer OpenAI said to discuss offering U.S. government a 5% stake: FT 4 hours ago 10 Live markets: Bitcoin rises above $61,000 as U.S. jobs data for June disappoints 5 hours ago Latest Research Building the Zcash Machine: Tachyon and Quantum Readiness Building the Zcash Machine: Tachyon and Quantum Readiness Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. By CoinDesk Research Jun 30, 2026 Commissioned by GenZcash Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. Why it matters : Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. View Full Report More From Finance Ondo Finance debuts SEC-aligned tokenized stock model with BlackRock ETF, Micron shares Robinhood rolls out public blockchain as it expands deeper into crypto French banking giant Crédit Agricole rolls out euro stablecoin, EURXT More From Bitcoin Ondo Finance debuts SEC-aligned tokenized stock model with BlackRock ETF, Micron shares JPMorgan says Strategy's bitcoin sales policy adds 'two-way risk' to crypto markets U.S. payroll growth slowed sharply in June, with only 57,000 jobs added