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SBI Crypto will shut down its Bitcoin mining pool on July 31, ending a public mining service it opened in 2021.
The closure gives miners less than a month to redirect hashrate from a pool that still accounts for about 2% of Bitcoin’s global hashrate.
Mining Shares Stop at 7 a.m. Japan Time
SBI Crypto told customers the pool will stop accepting mining shares at 7 a.m. Japan time on July 31, equal to 10 p.m. UTC on July 30. Shares submitted after the cutoff will not count toward final payout calculations.
The company said the pool is expected to operate normally until then and urged customers to keep directing hashrate to SBI Crypto through the cutoff so eligible work is included. SBI Crypto did not give a specific reason for the shutdown. It said final payout and operational details will be provided separately.
March 2021 Launch Opened Pool to Public Miners
SBI Crypto opened its mining pool to the public in March 2021 after an earlier limited release. At the time, the company said the pool would be available in English, Mandarin and Japanese, with access for both institutional and individual miners.
It also said it would support the pool with about 1.1 EH/s of its own mining power. The service was part of SBI’s crypto mining business, which had been active in overseas mining farms since 2017.
SBI Pool Holds About 17 EH/s
Hashrate Index data shows SBI Crypto ranked around 11th among Bitcoin mining pools, with about 17 EH/s and a market share near 1.9%. That share is small compared with Foundry USA, AntPool and F2Pool, but still large enough to make the shutdown visible across the mining pool market.
Miners using SBI Crypto will need to move hashrate to other pool operators before the cutoff. The shift does not remove mining machines from the Bitcoin network unless operators shut down hardware instead of reconnecting elsewhere.
Miners Must Redirect Before July 31
The shutdown comes as Bitcoin mining remains under pressure from tight margins, high power costs and competition for block rewards. SBI’s exit from pool operations does not mean the group is leaving crypto.
The Japanese financial conglomerate remains active in exchanges, custody, tokenization and digital asset investments. The immediate effect is operational: miners must move before SBI Crypto stops counting pool work at the end of July.
