SBI Crypto Closing Bitcoin Mining Pool After Five-Year Run
SBI Crypto will shut down its Bitcoin mining pool on July 31, ending a five-year operation that held roughly 2.2% of global hashrate.
SBI Crypto announced it will permanently shut down its Bitcoin mining pool on July 31, pulling the plug on an operation that has run for more than five years and carved out a notable position in the global mining landscape. The Japanese financial giant's crypto mining arm held approximately 2.2% of the total Bitcoin network hashrate at the time of the announcement, placing it 12th among all mining pools worldwide.
The closure marks a significant exit from the competitive Bitcoin mining sector, where hashrate share translates directly to the probability of earning block rewards. A pool commanding 2.2% of global hashrate represents meaningful computational power, making SBI Crypto's departure a notable consolidation event for the industry.
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SBI Group, one of Japan's largest financial conglomerates, had positioned its crypto mining unit as a strategic foothold in digital asset infrastructure. The decision to wind down the pool suggests a strategic reassessment, though the company has not publicly detailed the specific business rationale behind the move as reported.
The shutdown raises questions about where the pool's participating miners will redirect their hashrate after July 31. Competing pools stand to absorb that displaced 2.2% share, potentially reshuffling the rankings among the top global Bitcoin mining operations in the weeks ahead.
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