SBI Crypto Closes Bitcoin Mining Pool After Five Years
SBI Crypto is pulling the plug on its Bitcoin mining pool July 31, ending a five-year run as a top-15 global player.
SBI Crypto is shutting down its Bitcoin mining pool at the end of July, and if you're mining through them, you need to find a new home — fast. The Japanese financial giant confirmed the closure takes effect July 31, wrapping up over five years of operations in the mining space.
At its peak, SBI Crypto ranked 12th globally, commanding roughly 2.2% of total Bitcoin hashrate. That's not a rounding error — that's real block-finding power going dark. When a pool this size exits, that hashrate doesn't disappear; it redistributes to surviving pools, which could subtly shift the competitive landscape among the remaining players.
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For solo miners and small operations plugged into SBI's pool, the clock is ticking. July 31 is closer than it sounds. Missing the migration window means missed blocks and lost rewards, so switching pools now isn't optional — it's urgent. The top pools by hashrate will be the obvious landing spots, but shop around for fee structures before you commit.
The broader takeaway here is that even well-capitalized, institutional-grade mining operations aren't immune to market pressure. Bitcoin mining margins have been squeezed hard since the April 2024 halving, and running a competitive pool requires constant reinvestment. SBI's exit is a reminder that the mining industry keeps consolidating, and smaller pools face an uphill battle against the giants.
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