Binance to End Mining Pool, Cloud Mining Services From Nov. 10
Summary
- Binance said it will fully discontinue related services including its mining pool and cloud mining on Nov. 10.
- The exchange said mining workload submissions will no longer be accepted after the shutdown and new rewards will no longer be paid.
- Binance advised users to move their mining equipment to another mining pool and withdraw funds from Pool Savings.
Forecast Trend Report by Period
Binance, the world’s largest cryptocurrency exchange, will shut down its mining pool and related services, including cloud mining.
The Block reported on Oct. 13 that Binance will fully suspend mining-related services, including Binance Pool, starting at 4 p.m. Korea Standard Time on Nov. 10.
The shutdown will also cover Pool Savings, Cloud Mining and Transaction Accelerator. Additional features, including Telegram hashrate alerts, email notifications and the mining pool application programming interface, or API, will also be discontinued.
Once the services end, mining workload submissions will no longer be accepted and no new rewards will be paid. Binance urged users to move their mining equipment to another mining pool before the cutoff and withdraw funds from existing Pool Savings products.
The Binance Pool page will remain available through Nov. 24. During that period, users will still be able to review past mining records, account information and reward payment history.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.