SBI Crypto Closing Bitcoin Mining Pool After Five-Year Run
SBI Crypto will shut down its Bitcoin mining pool on July 31, ending operations after holding a 2.2% global hashrate share.
SBI Crypto announced it will permanently close its Bitcoin mining pool on July 31, pulling the plug on an operation that ran for more than five years and carved out a notable position in the global mining landscape.
At the time of its closure, the Japanese firm's pool ranked 12th worldwide, controlling approximately 2.2% of Bitcoin's total hashrate — a meaningful slice of the network's collective computing power dedicated to processing transactions and securing the blockchain.
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The shutdown marks the exit of one of Asia's more prominent institutional mining operations. While SBI Crypto has not publicly detailed the specific business or market conditions driving the decision, mining pool consolidation has become an increasing trend as energy costs, hardware cycles, and competitive pressure weigh on smaller and mid-tier operators.
The redistribution of SBI Crypto's 2.2% hashrate share among remaining pools could modestly shift the competitive balance at the top of the mining hierarchy, though analysts would note that no single pool is likely to absorb the full departure. Miners previously pointed to SBI Crypto's pool will now need to reallocate their rigs to competing services before the July 31 deadline.
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