Shutdown Announcement
SBI Crypto has officially announced it will cease operations of its Bitcoin mining pool effective July 31, 2026, ending a run of more than five years. The pool is currently the 12th largest globally, commanding about 2.2% of the network's total hashrate. No specific reasons were provided in the announcement, but the closure represents a definitive exit from Bitcoin mining for the Japanese financial giant.
The shutdown comes amid a period of intense competition among mining pools, where top-tier pools (such as Foundry USA, Antpool, and F2Pool) dominate a significant share of hashrate, squeezing smaller players. Although SBI Crypto's pool was modest in size, its closure reflects a broader trend of corporate mining units reevaluating their strategies—especially as Bitcoin's cycle transitions and mining economics become more challenging for non-specialized operators.
Industry observers note that the 2.2% hashrate share is unlikely to cause any disruption to the Bitcoin network, as the freed-up computing power will likely be redistributed to other pools. However, the move raises questions about the long-term viability of mining pools operated by diversified financial conglomerates versus dedicated mining firms. SBI Crypto has not indicated whether it will pivot to alternative cryptocurrencies or blockchain services.