Japanese Financial Giant's Bitcoin Mining Pool to Close July 31
SBI Crypto has announced the closure of its Bitcoin mining pool, which accounts for roughly 2% of the network's hashrate, effective July 31, 2026. Miners must redirect their hashrate before the cutoff date to remain eligible for final payouts.
SBI Crypto, the crypto arm of Japan's SBI Group financial conglomerate, has announced it will permanently shut down its Bitcoin mining pool on July 31, 2026. The pool currently represents approximately 2% of the Bitcoin network's total hashrate, according to data from Hashrateindex.
Miners participating in the pool have been instructed to redirect their hashrate before the July 31 cutoff date. Shares submitted after that date will not be accepted. SBI Crypto stated that the pool is expected to continue operating normally up until the shutdown date, and the company encouraged miners to keep contributing until the deadline so that all eligible shares are included in the final payout calculation.
SBI Crypto did not disclose a specific reason for the closure in its official shutdown notice. No current hashrate figures for the pool were provided by the company.
The mining pool was launched to the public in 2021, with SBI stating at the time that it would support the operation with approximately 1.1 EH/s of its own mining power. The pool has operated under the umbrella of SBI Group, one of Japan's largest and most diversified financial conglomerates.
The closure comes against a backdrop of sustained pressure on Bitcoin mining economics. Mining margins have narrowed, hashrate has been volatile, and operational costs have continued to rise. Bitcoin's total network hashrate has declined from its October peak as the cryptocurrency's price has dropped roughly 50% over the past year from an all-time high reached in the fall. Some miners have responded to the challenging environment by pivoting toward AI infrastructure operations.
SBI Crypto was additionally linked to a reported $21 million hack in the previous year. Blockchain investigator ZachXBT identified patterns consistent with North Korean state-backed cyberattacks in connection with that incident. However, SBI Crypto's shutdown notice makes no reference to the hack as a contributing factor in the decision to close the pool.
Bitcoin's price stood at approximately $61,584 at the time of reporting, up around 4% on the day as inflation concerns eased, though still significantly below its all-time high.
