SBI Crypto to close Bitcoin mining pool on July 31

SBI Crypto, the cryptocurrency arm of Japanese financial group SBI Holdings, will end its Bitcoin mining pool operations on July 31 and stop accepting mining shares that day. The pool launched in March 2021.

The company notified miners on Wednesday and asked them to continue directing hashrate to the pool until the cutoff so final payouts can be calculated. “We would sincerely appreciate your continued support by mining with us until the final day of operation,” the notice read.

The pool currently ranks 12th globally with about 21.46 exahashes per second, roughly 2.24% of total Bitcoin network hashrate. It is smaller than major operators such as Foundry USA, which controls about 24.49% of the network, and AntPool, at about 19.05%. Mid-tier pools including ViaBTC and MARA Pool account for about 8.55% and 5.15%, respectively.

SBI Crypto did not provide a reason for the shutdown. The company recommended alternative pools including Braiins, Luxor and NeoPool, and said some operators may offer special programs or preferential conditions for clients moving from SBI Crypto. Miners were urged to contact those operators directly for details on fees, payout structures and onboarding.

Hashrate directed to SBI Crypto will need to migrate to other pools or to solo miners after July 31. The company emphasized the logistical steps for closing the pool and advised miners to keep shares active through the final day to avoid settlement complications.

The closure coincides with SBI Holdings expanding other parts of its cryptocurrency business. The group agreed to acquire full control of Japanese exchange Bitbank in a 46.7 billion yen deal and has backed a bank-backed Japanese yen stablecoin while supporting the rollout of a U.S. dollar-pegged stablecoin in Japan.