SBI Crypto’s Bitcoin mining pool will shut down on July 31, 2026, and miners must migrate their hashrate before the cutoff since the pool will stop accepting shares after July 30 at 22:00 UTC to ensure final payouts.

Miners are advised to direct their hashrate to the SBI pool until the cutoff to ensure eligible shares are included in final payouts, as early withdrawal could forfeit rewards.

The closure is unlikely to threaten Bitcoin’s security given SBI’s roughly 2% share, while SBI Holdings continues expanding in crypto ventures like stablecoins and exchange infrastructure.

The move fits a broader industry shift of large miners pivoting toward artificial intelligence, a trend highlighted by other players rebranding or shifting focus.

SBI Crypto did not disclose a specific reason for the closure, though it cited pressures from shrinking mining margins and rising operating costs.

SBI Crypto plans to assist customers in transitioning by engaging with other pools such as Braiins and Luxor and may offer transition programs or favorable terms.

SBI Crypto launched its pool in 2021 under SBI Group and grew to roughly 2% of Bitcoin’s network, attracting both institutional and independent miners.

At launch, the pool entered a market dominated by Poolin, F2Pool, and Binance Pool, growing to be the 12th largest globally with about 21.46 exahashes per second.

The pool is operated by SBI Group, a major Japanese financial conglomerate, and began with around 1.1 exahashes per second of SBI’s mining power.

The decision comes amid a challenging mining environment, with Bitcoin’s price declines impacting mining profitability.

SBI has not yet released a full transition schedule or final payout timing, API access, or web portal details, with more information to come as plans firm up.

Migrating miners have options such as Braiins, Luxor, and NeoPool, though SBI did not formally endorse any provider and emphasized independent evaluation.