SBI Crypto to close Bitcoin pool with 2% hashpower
SBI Crypto announced on 2 July 2026 that its Bitcoin mining pool will be shut down on 31 July 2026, ending the acceptance of mining shares after that date. Background and Timeline The pool launched to the public in 2021, initially bolstered by roughly 1.1 exahashes per second (EH/s) of SBI Crypto’s own mining capacity. In April 2026 the firm communicated to its pool participants that an internal business review indicated a planned wind‑down by the end of July. The announcement aligns with a five‑year operating period for the service. Hashrate Share and Alternatives According to Luxor’s Hashrate Index on 30 June 2026, the pool maintained a seven‑day average hashrate of about 20.9 EH/s, representing close to 2 % of the total Bitcoin network hashrate. Miners using the pool must redirect their hardware before the cut‑off to avoid losing credit for their work. SBI Crypto suggested Luxor, Braiins and NeoPool as alternative pools and noted prior business and technical discussions with those operators. Industry Context No explicit reason was given for the closure, but the decision arrives amid a challenging period for the mining sector, where tightening margins and rising operating costs pressure profitability. Investors in the crypto space are closely monitoring how reduced mining capacity may influence the broader Bitcoin market. The shutdown underscores the ongoing volatility that blockchain‑based mining enterprises must navigate.
