SBI Crypto announced the closure of its mining pool on July 31, ending a service linked 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 into the pool, on the deadline, according to SBI Crypto. Shares submitted after this deadline will not be accepted and the company said the pool should operate normally until the closing date.
The company urged its customers to continue mining the pool until the deadline so that eligible shares are included in the final payout calculation.
According to data from Hashrateindex, SBI Crypto’s mining pool represents approximately 2% of the total Bitcoin network hashrate. The company did not disclose the reason for the closure in its closure notice and did not provide current hashrate figures for the pool.
SBI Crypto operates under SBI Group, the Japanese financial conglomerate. The mining pool was opened to the public in 2021, with SBI saying at the time that it would support the pool with approximately 1.1 EH/s of its own mining power.
