SBI Crypto has announced that it will close its mining pool on July 31, ending a service linked to one of Japan’s largest financial pools and giving miners less than a month to redirect their hashrate.
According to SBI Crypto, the pool will stop accepting mining shares, which represent a miner’s contributions to the pool, on the deadline. Shares submitted after that deadline will not be accepted and the firm said the group is expected to operate normally until the closing date.
The company urged clients to continue mining with the pool until the deadline for eligible shares to be included in the final payout calculation.
The SBI Crypto mining pool, according to data from Hashrateindex, represents approximately 2% of the total hashrate of the Bitcoin network. The company did not disclose the reason for the closure in its closure notice and did not provide current hashrate figures for the pool.
SBI Crypto operates under SBI Group, the Japanese financial conglomerate. The mining pool opened to the public in 2021, and the SBI said at the time that it would support the pool with approximately 1.1 EH/s of its own mining power.
