SBI Crypto Announces Permanent Shutdown of Its Bitcoin Mining Pool by July 2026
In a surprising move that has shaken the cryptocurrency mining sector, SBI Crypto, a subsidiary of SBI Holdings, announced the permanent shutdown of its Bitcoin mining pool services, effective July 31, 2026. The pool is considered one of the largest globally, accounting for approximately 2% of the total Bitcoin network hashrate.
The company confirmed that the pool will continue to operate normally until the closing date, processing mining operations and distributing rewards to users, before completely ceasing to accept new mining shares at the end of July. It has urged all participants to migrate their equipment to other mining pools to ensure uninterrupted operations.
While the company did not disclose the exact reasons behind the decision, the move has sparked speculation that it is linked to the mounting economic pressures facing the mining sector. These include surging operational and energy costs, as well as intensifying competition among global mining pools amid shrinking profit margins.
Alternatives for Users The company suggested several alternative pools for its users, including Braiins, Luxor, and NeoPool, while emphasizing that the choice of a new service provider ultimately remains the user's responsibility.
This decision comes at a time when the Bitcoin mining sector is undergoing a massive wave of restructuring. Companies are increasingly seeking to cut costs and pivot towards higher-profit activities to navigate the current economic variables.
Analysts believe that the exit of a mining pool affiliated with a financial heavyweight like SBI Holdings will lead to the redistribution of a portion of the global hashrate among competing pools. However, it will not fundamentally impact the security and stability of the Bitcoin network, owing to its inherently decentralized nature and the vast, global distribution of mining power.