Binance Pool shuts down after hashrate falls 65%

Binance Pool, the bitcoin mining pool that once handled about 2.3% of the network's hashrate, is shutting down after its computing power fell from 26 EH/s in December to roughly 9 EH/s — a 65% decline. Remaining miners must switch to another provider before a Nov. 10 cutoff.

• The pool's directed hashrate has collapsed even as overall network computing power continues to climb.
• Miners currently pointed at the pool need to migrate to an alternative service ahead of the cutoff.