SBI Crypto will discontinue its Bitcoin mining pool on July 31, 2026, bringing to a close more than five years of mining pool operations and prompting participating miners to migrate to alternative providers. The shutdown follows several months of operational changes and comes amid continued economic pressure across the global Bitcoin mining industry.
The company said the pool will stop accepting mining shares at 07:00 JST on July 31 (22:00 UTC on July 30). Shares submitted after that deadline will not be counted toward payouts, while mining activity is expected to continue normally until the cutoff. SBI Crypto advised customers to keep directing hashrate to the pool until operations cease so all eligible work is included in the final settlement.he closure arrives during a period of structural change for the Bitcoin mining industry. Since the 2024 Bitcoin halving, miners have faced lower block rewards while competing with rising network difficulty and elevat
Industry tracking platforms estimate SBI Crypto controls approximately 2% to 2.2% of Bitcoin’s global network hashrate, making it a mid-sized mining pool rather than one of the dominant operators. Although the closure is unlikely to affect Bitcoin’s security or block production, it will redistribute a measurable share of network computing power to competing pools.
Months of operational changes preceded the shutdown
The announcement follows a series of updates issued by SBI Crypto during 2026 that suggested the company was reassessing its mining business.This period of restructuring coincided with wider developments across the group, including discussions surrounding SBI to Acquire Bitbank, reflecting SBI’s evolving approach to digital asset operations and investments.
Notable developments included:
- Temporary suspension of Litecoin and Dogecoin merged mining in March.
- Reviews of payout processing on weekends and Japanese public holidays.
- An April notice stating that mining pool operations were expected to wind down by the end of July.
- Confirmation that final operational details, payouts and API availability would be communicated before closure.
Rather than ending services immediately, SBI Crypto opted for a phased shutdown, allowing miners several months to prepare for migration while continuing regular operations.
Mining pools compete for departing customers
As part of its transition guidance, SBI Crypto identified three mining pool operators that customers may consider when moving their mining equipment:
- Braiins
- Luxor Pool
- NeoPool
The company stated that these providers were listed solely because of previous business and technical discussions, emphasizing that miners should independently evaluate available options. It also noted that some providers may offer migration incentives, although SBI Crypto does not endorse any particular service.
SBI Crypto has announced it will close its mining pool on July 31, 2026.
We’re sad to see them close down as competition in the pool space is good for bitcoin. We’ve appreciated co-operating with the SBI Crypto team over the years.
For SBI Crypto miners looking for a new mining… pic.twitter.com/omwvElUAvF
— Braiins (@Braiins) July 1, 2026
Following the announcement, Braiins publicly confirmed it is prepared to assist SBI Crypto customers and said it would honor existing pool fee arrangements where possible to simplify migration.
Mining economics remain under pressure
The closure arrives during a period of structural change for the Bitcoin mining industry. Since the 2024 Bitcoin halving, miners have faced lower block rewards while competing with rising network difficulty and elevated energy costs. These challenges have affected operators globally, including companies involved in US Bitcoin mining, where profitability increasingly depends on access to cheap energy, efficient infrastructure and next-generation mining hardware. Profitability has become increasingly dependent on operational efficiency, access to low-cost electricity and modern mining equipment.
Although some mining firms have diversified into artificial intelligence and high-performance computing infrastructure to improve returns, others have consolidated operations or exited less profitable business segments. SBI Crypto has not linked its decision to any specific market condition or financial factor.
End of an institutional mining chapter
SBI Crypto launched its public mining pool in 2021 as part of the broader digital asset strategy of Japan’s SBI Group. At launch, the company committed its own mining capacity to help establish the pool before expanding participation to institutional and commercial miners. The evolution of corporate mining strategies mirrors developments in Tether Bitcoin mining initiatives, where companies are increasingly focusing on modular infrastructure, energy efficiency and long-term scalability.
The closure marks the end of one of Japan’s more recognizable corporate-operated Bitcoin mining pools. While Bitcoin’s network is expected to continue operating without disruption, the redistribution of approximately 2% of global hashrate will strengthen rival mining pools competing for institutional mining clients ahead of the July 31 deadline.
