SBI Crypto Mining Pool to Close on July 31, Shifting 2.2% of Bitcoin Hashrate to Other Pools

The SBI Crypto Mining Pool is set to permanently shut down on July 31, 2026, marking the end of a five-year run for the service operated by the Japanese financial giant SBI Group. This closure will require miners contributing approximately 20.9 EH/s , roughly 2.2% of Bitcoin’s total network hashrate , to redirect their operations to alternative pools within weeks.

Announced on July 2, the decision gives participants a firm deadline: the pool will stop accepting mining shares at 07:00 JST on July 31 (22:00 UTC on July 30). Any work submitted after the cutoff will not count toward final payouts. SBI Crypto urged miners to keep directing hashrate until the last moment to maximize earnings.

Why the SBI Crypto Mining Pool Is Closing

SBI Crypto offered no explicit reason in its official notice, signed by CEO Hiroaki Morita. The communication focused on logistics, including payout procedures and a short list of previously discussed alternatives: Braiins Pool, Luxor Pool, and NeoPool. However, context from the past year points to several contributing factors.

In September 2025, blockchain investigator ZachXBT flagged around $21 million in suspicious outflows from wallets linked to SBI Crypto, with patterns resembling activity attributed to North Korea’s Lazarus Group. SBI Group has not publicly confirmed or denied any breach. This incident was followed by operational changes, including revisions to fees and payouts, a temporary suspension of merged mining for Litecoin and Dogecoin, and an internal business review in April 2026 that foreshadowed the wind-down.

Strategically, SBI appears to be shifting focus. Just days before the pool announcement, the group revealed plans to acquire Bitbank, a major Japanese crypto exchange, in a deal valued at approximately $289 million. This move would strengthen SBI’s position in regulated exchange and custody services amid Japan’s consolidating crypto market. Bitcoin mining, with its high capital demands, energy costs, and revenue volatility, may no longer align with the company’s priorities.

Hashrate Shift and Implications for Bitcoin

The departure of the SBI Crypto Mining Pool will not reduce Bitcoin’s overall security. The 20.9 EH/s of hashrate will simply migrate elsewhere, and the network’s difficulty adjustment mechanism , which recalibrates roughly every two weeks , will stabilize any short-term fluctuations.

However, the redistribution could influence mining centralization. As of early July 2026, the top pools already dominate: Foundry USA (~24%), AntPool (~19%), F2Pool (~14%), and others controlling well over 70% combined. Mid-tier closures like this often funnel hashrate toward the largest operators due to better infrastructure and liquidity, potentially increasing concentration risks.

Recent events, such as a March 2026 chain reorganization where Foundry mined seven consecutive blocks, highlight real-world concerns. Large pools gain influence over transaction selection and ordering under the prevailing Stratum V1 protocol, where pool operators build block templates and miners simply hash against them.

Stratum V2: A Chance for Greater Decentralization

This migration period presents an opportunity for miners to consider next-generation tools. Stratum V2, endorsed by major pools representing ~75% of hashrate in May 2026, allows individual miners running their own full nodes to construct their own block templates via the Job Declaration Protocol. This shifts power away from centralized pool operators and reduces risks of transaction censorship or undue influence.

While pool-level support exists, actual adoption depends on miners configuring compatible firmware and nodes. Braiins Pool stands out for native Stratum V2 support alongside flexible payout options (FPPS at 2% or 0% PPLNS). Other pools like Luxor offer strong data tools, while newer or specialized options emphasize decentralization.

Practical Migration Guide for Affected Miners

Miners using the SBI Crypto Mining Pool should act methodically before the deadline:

1. Inventory your setup: Note current hashrate, firmware versions, and payout settings.
2. Evaluate alternatives: Key factors include fees, geographic latency, payout frequency, Stratum V2 readiness, and reliability.
3. Test connections: Point a small portion of hashrate to new pools first to verify stability.
4. Plan payouts: Understand final settlement timelines from SBI and any tax implications.
5. Consider splitting hashrate: Larger operations can reduce variance and counterparty risk by diversifying across 2–3 pools.

Pool Comparison Snapshot (as of July 2026):

• Braiins Pool: Strong Stratum V2 support, oldest Bitcoin pool (formerly Slush), competitive fees.
• Luxor Pool: Robust analytics via Hashrate Index, expanding services.
• Foundry USA / AntPool: High liquidity but contribute to concentration.
• OCEAN / Others: Focus on maximum decentralization for advanced users.

Many pools may offer migration incentives , contact support directly.

What This Means for the Broader Bitcoin Mining Industry

The closure of the SBI Crypto Mining Pool underscores ongoing pressures in the sector: compressed margins after Bitcoin’s price drawdown, rising energy and hardware costs, and the appeal of more predictable revenue streams like exchanges. For individual miners, it’s a prompt to reassess not just where to point machines, but how their choices affect Bitcoin’s long-term architecture.

Adopting Stratum V2 during this transition could accelerate a meaningful decentralization shift. Each miner who enables Job Declaration and runs a node contributes to distributing block template authority more widely.

Final Thoughts

The impending shutdown of the SBI Crypto Mining Pool is more than a simple service exit , it’s a live stress test for Bitcoin mining’s competitive dynamics and a call to action for participants. With roughly 2.2% of network hashrate in motion, where it lands will quietly shape pool concentration and the pace of protocol improvements like Stratum V2.

Miners now have a window to make deliberate choices that balance profitability, reliability, and the health of the network. Those who use this transition to explore decentralized options may position themselves advantageously for the next phase of Bitcoin mining.

Frequently Asked Questions

Does this threaten Bitcoin’s security?

No. Total hashrate remains intact; only pool assignment changes.

Will I lose earnings?

Keep mining until the cutoff for full eligibility. Final payouts will follow SBI’s schedule.

Should I choose a large pool or a smaller Stratum V2 one?

Depends on priorities: large pools offer stability and low variance; V2-supporting pools better align with decentralization goals. Splitting is often ideal.

What about the 2025 security incident?

It remains unconfirmed by SBI and is not cited in the closure notice, but it forms part of the operational backdrop.