SBI Crypto ends Bitcoin mining pool after five years

SBI Crypto, the cryptocurrency-focused unit of Japan’s SBI financial group, will shut down its Bitcoin mining pool after five years of operations. The company says it will end mining pool services on July 31 and will stop accepting mining shares at the same time, while asking miners to keep directing hashrate to the pool through the cutoff so final payouts can be calculated correctly.

Beyond the operational details, the closure underlines a shift in how SBI wants to position itself in crypto. Instead of concentrating on mining infrastructure, SBI has been expanding its broader strategy across exchanges and stablecoins—an approach that appears to be moving resources away from pool-based services.

Key takeaways

• SBI Crypto will stop accepting Bitcoin mining shares and close its mining pool on July 31.
• Miners are being told to maintain hashrate on SBI Crypto until the cutoff to ensure accurate final payouts.
• SimpleMining data places SBI Crypto’s pool among the largest globally—currently around the 12th position by hashrate.
• SBI Crypto has pointed customers toward alternative pools, including Braiins, Luxor, and NeoPool.
• The shutdown aligns with SBI’s wider push into trading and stablecoin-related initiatives rather than mining.

End of SBI Crypto’s Bitcoin pool service

In an announcement posted on its site, SBI Crypto confirmed it will terminate its mining pool operations on July 31 and end share submissions at the same time. The company did not cite a specific reason for closing the pool.

In the same update, SBI Crypto emphasized operational continuity for miners. It asked customers to keep submitting hashrate to the pool until the final day so the platform can complete its payout calculations based on end-of-period share data. “We would sincerely appreciate your continued support by mining with us until the final day of operation,” the company wrote.

Where SBI Crypto sits in global pool rankings

SBI Crypto launched its Bitcoin mining pool in March 2021, entering a competitive segment that, at the time, already included major pool operators such as Poolin, F2Pool, and Binance Pool.

According to data tracked by SimpleMining, SBI Crypto currently ranks as the 12th largest Bitcoin mining pool worldwide. The dataset attributes roughly 21.46 exahashes per second (EH/s) of hashrate to SBI Crypto, representing about 2.24% of the network’s total share.

That position is significantly behind the very top pools. SimpleMining data shows Foundry USA controls about 24.49% of total network share, while AntPool sits around 19.05%. Mid-tier and lower-tier pools such as ViaBTC and MARA Pool account for approximately 8.55% and 5.15% of global Bitcoin mining hashrate, respectively.

For miners and operators monitoring pool reliability, rankings like these matter because they can influence factors such as the consistency of payouts and the pool’s overall draw of hashpower. Even without SBI Crypto’s exact rationale, the size of its current share means the migration away from its pool is likely to be watched closely by miners looking to avoid disruptions around the end date.

Hashrate migration options SBI Crypto recommends

With the July 31 shutdown approaching, SBI Crypto encouraged miners to redirect their hashing power to other Bitcoin pool operators. In its announcement, the company named several alternatives, including Braiins, Luxor, and NeoPool.

SimpleMining’s ranking data suggests that Braiins and Luxor each account for roughly 2% to 3% of global Bitcoin hashrate—placing them in the mid-tier portion of the pool market. NeoPool, meanwhile, is not included among the top-ranked pools by hashrate in the SimpleMining dataset.

SBI Crypto also indicated that some operators may run special programs or offer preferential conditions for clients transitioning from its platform. It advised customers to contact each pool directly to understand any available terms.

That guidance is likely important for both large mining operators and smaller participants. When a pool shuts down, miners typically face a tradeoff between operational convenience and the economics of switching—such as how quickly a new pool can reflect incoming hashpower and what payout structures apply after migration. SBI Crypto’s note that customers should check directly with alternative providers suggests these details may vary case by case.

SBI’s broader crypto direction: trading and stablecoins

The closure of SBI Crypto’s mining pool follows a broader pattern in SBI’s crypto strategy: shifting emphasis from mining toward expanding its financial-market role in digital assets.

Earlier, SBI Holdings agreed to acquire full control of the crypto exchange Bitbank in a deal valued at 46.7 billion Japanese yen (about $289 million), with the stated goal of building what it describes as Japan’s largest cryptocurrency exchange. SBI has also increased its focus on stablecoins—backing JPYSC, a new trust bank-backed Japanese yen stablecoin, and supporting Ripple’s rollout of its Ripple USD (RLUSD) stablecoin in Japan.

While the mining pool is closing due to SBI Crypto’s operational decision, these adjacent initiatives suggest where management believes growth is likely to be concentrated: in regulated exchange infrastructure and stablecoin rails rather than in running a corporate mining service.

For miners, the next question is less about long-term corporate strategy and more about execution: how smoothly hashrate transitions occur across pools and whether payout conditions remain stable around the July 31 cutoff. Watch SBI Crypto’s communications for any final operational clarifications, and track how major pools absorb redistributed hashpower as the shutdown date approaches.