Binance Pool closes on November 10, and the second deadline expires 17 hours later: what you can do now

Binance is switching off its mining pool. On November 10, 2026 at 07:00 UTC the exchange will cut the connections to Binance Pool, the stratum URLs and mining endpoints will go offline, and any hash rate arriving after that will be neither accepted nor credited. Pool Savings, Cloud Mining and the Transaction Accelerator go with the pool, along with the Telegram hash rate alerts, the email notifications and the mining pool APIs.

The date you actually need to remember, though, is a different one. The same announcement carries a second deadline, seventeen hours later: by November 10, 2026 at 23:59 UTC you are meant to have completed everything needed for outstanding rewards, balances, refunds and statements to be able to reach you, identity verification expressly included. If you have only 07:00 in mind, you will think the matter is settled by midday and let the second edge pass in the evening.

Then there is a third cut-off, the one most likely to catch up with you years later: from November 24, 2026 at 07:00 UTC the pool pages will be permanently unreachable. That also takes away the statements you need as evidence for your tax return. This article walks you through all three deadlines, through the switch to another pool, and through the German obligations attached to it.

What Binance switches off on November 10, and what disappears with the pool

The Binance announcement names a whole product group, not a single offering. Binance Pool itself, Pool Savings, Cloud Mining and the Transaction Accelerator are all being retired. Added to that are the features built around the pool: hash rate alerts via Telegram, email notifications, and the mining pool APIs that many operators run their monitoring through.

Four of these terms affect different people. A mining pool combines the computing power of many participants; when the pool finds a block, it distributes the reward according to the submitted shares. Cloud mining is the counterpart: here you own no hardware but rent computing power for a term. Pool Savings was an interest product into which mining proceeds could be deposited. The Transaction Accelerator, finally, could push a stuck Bitcoin transaction into a block ahead of others.

Two terms will accompany you through the rest of this text. The hash rate is the speed at which your hardware works through computing operations, measured in hashes per second; it determines what share of the pool's proceeds you can claim. Shares are the evidence of that work: partial solutions your device submits to the pool, which the pool counts to determine your portion of a block it finds. Together the two describe what actually gets paid for in crypto mining, and what runs into nothing from 07:00 UTC on November 10.

If you are a cloud mining customer, you need to reconfigure no machine; the product simply falls away for you. Anyone running their own ASICs, the hardware specialised in Bitcoin, has real work ahead: select a new pool, switch each device individually to the new stratum address, reassign worker names and replace the monitoring that currently hangs off the Binance APIs. As of this week a Bitcoin costs around $83,300 and a mined block currently brings 3.125 BTC plus fees, so the switch is not about small change.

The Binance Pool shutdown in sequence: 07:00 UTC, 23:59 UTC and November 24

November 10, 07:00 UTC. Binance begins cutting the mining connections. The stratum URLs and the mining endpoints are deactivated. Hash rate submissions and mining shares arriving after this point will, in the wording of the announcement, no longer be accepted, processed or credited. Product access closes at the same time, and no new rewards, earnings or benefits accrue. On the same day all references to Binance Pool disappear from the exchange's home page.

November 10, 23:59 UTC. This line is the least conspicuous and the most consequential. Binance asks that by then you make sure your account can actually receive outstanding rewards, refunds or statements, and expressly names all required identity verification steps in that context. An incompletely verified account is precisely the case in which a payout stalls. Those most affected are users who opened their account years ago and have barely touched it since.

November 24, 07:00 UTC. For fourteen days the pool pages remain reachable so that you can view historical data, account records and the status of your payouts. After that they are permanently unavailable.

One restriction takes effect even earlier but affects no German users: for customers in Brazil, Binance is limiting access to several services including Binance Pool from October 27, 2026. The trade outlet CryptoBriefing attributes that step to new requirements from the country's central bank. Binance itself draws no connection between the two in its announcement.

The second deadline at 23:59 UTC and the role of identity verification

Close reading pays off here, rather than drama. Binance does not say that outstanding amounts lapse after 23:59 UTC. The announcement is more careful: eligible outstanding rewards, balances, refunds or statements will continue to be processed after November 10 as well, subject to the respective product rules, account status, risk controls, compliance checks and applicable law. The 23:59 UTC is named as the point by which the necessary steps should be done in order to allow prompt handling.

In practice that means the deadline is not a trapdoor with total loss, but it marks the point from which you can no longer rely on swift processing. Four things therefore belong done beforehand.

• Complete identity verification. This is the only point Binance names explicitly. If your verification is incomplete or an identity document has expired, the payout stands still.
• Check payout details. Stored addresses and bank details have to be current and confirmed.
• Clear up account status. An active security lock or an open support query is exactly the account status the announcement refers to.
• Close out Pool Savings positions. This point has an uncertainty of its own, more on that shortly.

Shares, rewards and the final settlement: what still counts before 07:00 UTC

One detail takes the pressure off: mining shares you submit before 07:00 UTC on November 10 still feed into the final calculation of rewards under the applicable Binance Pool rules. The work of the last hours before the shutdown is therefore not lost. Binance also writes that the pool should keep running under normal conditions until the stated times.

What comes afterwards, by contrast, really is wasted work. A device still pointing at the old address at 08:00 UTC on November 10 computes into the void: the shares it submits are no longer counted, and the electricity runs all the same. On a current large machine drawing three to four kilowatts, that is roughly 72 to 96 kilowatt hours a day for which not a single reward is credited any more.

That is why the switchover date is not a point but a window. If you are responsible for several devices, allow a day of lead time, test the new address on a single machine and only then move the rest across. One thing matters when comparing pools: the settlement models differ. Under PPS you get a fixed payment per submitted share; FPPS, or full pay per share, adds a proportional share of the transaction fees on top; PPLNS only distributes after a block is found and therefore fluctuates more. Which model you choose changes your proceeds noticeably.

Pool Savings: close it out, even though no separate time is named

At this point the announcement stays vague, and that deserves saying. On Pool Savings it only says that you should review your active positions and cancel or redeem them before the service ends. Binance names no separate time for it.

Because Pool Savings appears in the same list as the pool itself, 07:00 UTC on November 10 is the moment you should plan for. A separate, later deadline for Pool Savings is nowhere documented, and nobody should stake their balance on an undocumented deadline.

Our measurement: Binance Pool recently found 47 of 4,419 blocks

Why does one of the largest companies in the industry close its mining pool? Binance is among the largest crypto exchanges in the world, and the closure hits a service the company has run since 2020. Binance gives only the ongoing review of its own product range as the reason. The numbers are more explicit.

We counted the blocks found per pool, on the basis of data from the block explorer mempool.space. Over the past three years Binance Pool accounted for 4,366 of 159,250 blocks, that is 2.74 percent and ninth place. Over the past year it was 1,080 of 52,380 blocks, 2.06 percent, still ninth place. And in the past month: 47 of 4,419 blocks, 1.06 percent, thirteenth place. Its share has more than halved in three years.

At the top, the same month looks like this: Foundry USA came to 25.6 percent, AntPool to 20.7 percent, F2Pool to 16.2 percent. The three largest mining pools thus share around 62 percent of the blocks found between them. A pool with a one percent share finds a block every day and a half on average, and it is exactly that rarity that makes proceeds uneven for the miners connected to it.

Our assessment: the crypto mining business has become a side matter for Binance, and the closure follows from that. The halved block share supports it, as does the slide from ninth to thirteenth place within a year and the fact that the entire product family is going rather than a single service. Little stands against it, apart from the timing: the restriction in Brazil taking effect two weeks earlier can be read as regulatory pressure. That connection is not documented, and Binance does not draw it itself. In any case the reason changes nothing about the three cut-off dates.

Mining income in Germany: section 15 or section 22 no. 3 of the Income Tax Act

Now to the part the reports on the shutdown leave out. Anyone mining in Germany has taxable income, regardless of whether the pool continues to exist or not.

The Federal Ministry of Finance assigns block creation to two income categories in its circular on crypto assets of March 6, 2025. If you mine on a sustained basis and with the intention of making a profit, it is income from a trade or business under section 15 of the Income Tax Act; block reward and transaction fees then count as business receipts. If the activity remains occasional, other income from services under section 22 no. 3 of the Income Tax Act applies. There an exemption limit applies: if this income stays below 256 euros in the calendar year, it is tax-free. If the limit is exceeded, the full amount is taxable, not just the excess.

What is decisive is the value at the time of receipt: the relevant price is the one on the day the reward was credited to your account, not the price at a later sale. How the line between trade and occasional activity falls in an individual case is broken down at length in our guide to crypto mining and tax.

What section 147 of the Fiscal Code demands of your mining records

That makes November 24 the real tax date of this shutdown. The German Fiscal Code sets out in section 147 which records have to be kept in order and for how long.

For mining that means concretely: monthly statements, payout receipts and the transaction history are accounting documents or at least other records of relevance for taxation. Section 147 paragraph 3 of the Fiscal Code sets staggered periods for them: books and annual financial statements ten years, accounting documents eight years, other records six years. The period only begins at the end of the calendar year in which the document arose, and it does not expire while the assessment period for the tax concerned is still open.

A statement from 2026 can therefore stay with you well into the 2030s. The provider, however, only keeps it available until November 24, 2026. Whatever you have not downloaded by then you will later have to reconstruct, and without access to the source.

A complete export rather than a sample therefore makes sense: all monthly statements, the full payout history with the destination addresses, the entries on Pool Savings and Cloud Mining, and the receipts for fees. If you want to record your proceeds on an ongoing basis, the crypto tax software and portfolio trackers include programs that value mining receipts at the daily rate and output them as a report. You still have to secure the raw data yourself: a tool is no substitute for a receipt, and the provider's pages are unreachable from November 24.

What the tax office learns about crypto accounts from 2026 anyway

The records also matter more because the authorities are seeing more in parallel than they used to. With the Crypto Asset Tax Transparency Act, Germany has implemented the EU directive DAC8; the law has applied since January 1, 2026. Providers of crypto asset services have to report details of their users and their transactions to the Federal Central Tax Office, which passes the data on to the local tax offices and to partner authorities in the EU. The first reporting year is 2026, with the report due the year after.

For you as a miner that amounts to a plain arithmetic task: what the exchange reports should match what stands in your return. An account whose statements you can no longer call up makes exactly that reconciliation harder. That is the second reason to pull the records before November 24, even if you moved to another pool long ago.

Switching pools: stratum address, worker names and the monitoring

The technical part is manageable as long as you do not leave it to the last day. Three steps are enough for one device.

1. Open an account with the new pool and store a payout address. Check the minimum amount from which payouts are made and at what intervals. On small setups that threshold determines whether you see money regularly at all.
2. Enter the stratum address and worker names. In your device's interface you replace the previous pool URL with the new one and assign a worker name following the new provider's scheme. Set up a second address as a backup at the same time, so the device does not sit idle if there is a fault.
3. Rebuild the monitoring. Alerts that rely on the Binance APIs or the Telegram notifications stop working on November 10. Many miners notice their monitoring has failed only once the hash rate has long been at zero. The replacement belongs in place beforehand, otherwise you notice an outage only from the payout that fails to arrive.

Four things count when choosing the new provider. First, size: large mining pools find blocks more often and therefore pay out more evenly, but they also concentrate the network's computing power on a few addresses. Second, the supported cryptocurrencies: some services settle only Bitcoin, others serve several blockchains, which pays off if your hardware is not fixed on BTC. Third, the fee, which depending on the provider sits between around one and four percent of proceeds. Fourth, the location of the servers, because high latency between device and pool costs rejected shares and therefore hard cash.

Where your rewards land afterwards is a separate decision. On an exchange they stay conveniently tradable but sit in third-party custody. If you are building up larger holdings, you withdraw them into custody of your own. One thing should be clear in all this: mining proceeds are not secure income. Falling prices, rising difficulty and electricity costs can make an operation unprofitable, and a total loss of the capital deployed is possible.

Binance Pool: the statements stay available until November 24

Three steps, in this order:

1. By November 10, 07:00 UTC: move the hash rate. Choose a new pool, switch each device individually, compare settlement model and payout threshold. Where the payouts go afterwards is best settled in advance: the comparison of crypto exchanges and their fees shows what deposits and withdrawals in euros cost where.
2. By November 10, 23:59 UTC: make the account ready to receive. Complete identity verification, update payout details, close out Pool Savings positions. For larger holdings you then want to keep in your own custody, the hardware wallet comparison is worth a look.
3. By November 24, 07:00 UTC: secure the records. Download all monthly statements, the payout history and the fee receipts, and file them so that you can still find them in eight years. A tax tool with a portfolio tracker then takes over the valuation at the daily rate.

(As of October 13, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)