Binance will end its mining pool and related services on Nov. 10 local time, The Block reported on Monday.
Binance made the decision as part of a review of its product lineup, the report said. Services being discontinued include Binance Pool, Pool Savings, Cloud Mining and Transaction Accelerator. Hashrate alerts on Telegram, email alerts, the mining pool API service, and Stratum addresses and endpoints will also be halted at the same time.
Hashrate submissions and mining contributions made after the cutoff will not be accepted and no rewards will be paid. Access routes to the services will also be closed. Binance urged users to move mining equipment to other pools and cancel Pool Savings products before the deadline. Unpaid rewards, refunds and settlements that are due will be handled under product terms and conditions. The process will include checks such as account status verification and compliance reviews.
Binance said it would keep the Binance Pool page open for 14 days until 7 a.m. on Nov. 24 so users can check past data, account records and payment status. It said access will be permanently unavailable after that.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr