SBI Crypto Ends Bitcoin Mining Pool After Five Years
SBI Crypto is shutting down its Bitcoin mining pool on July 31, directing miners to alternatives like Braiins and Luxor. The pool ranks 12th globally with 2.24% hashrate. SBI continues expanding its crypto strategy, acquiring exchange Bitbank for $289M and backing stablecoins JPYSC and Ripple USD.
Quick Take
SBI Crypto to end Bitcoin mining pool operations July 31.
Miners advised to switch to Braiins, Luxor, or NeoPool.
SBI acquires Bitbank for $289M to build Japan's largest exchange.
Firm backs JPYSC and Ripple USD stablecoins.
Market Impact Analysis
NeutralShutdown of a mid-size mining pool has minimal effect on Bitcoin's global hashrate and price; SBI's pivot to exchanges and stablecoins shows continued crypto commitment but doesn't directly move markets.
Speculation Analysis
Key Takeaways
- SBI Crypto will terminate its Bitcoin mining pool on July 31, ending five years of operation.
- Miners must migrate to Braiins, Luxor, or NeoPool before the cutoff to secure final payouts.
- SBI acquires Bitbank for $289M, advancing its pivot to exchange and stablecoin services.
- The pool held 2.24% of global Bitcoin hashrate, ranking 12th among all pools.
- SBI backs yen and Ripple USD stablecoins, signaling a long-term crypto services shift.
What Happened
SBI Crypto, the crypto arm of Japanese financial giant SBI Holdings, announced it will shut down its Bitcoin mining pool on July 31, 2026. The pool launched in March 2021 and operated for over five years. It currently ranks 12th globally with 21.46 EH/s, representing 2.24% of network hashrate. Miners must stop directing shares to the pool at the cutoff date and have been advised to migrate to alternatives like Braiins, Luxor, or NeoPool. The company did not disclose the reason for closure but emphasized continued mining until shutdown to ensure accurate final payouts. This move marks SBI’s exit from pooled mining as it refocuses on exchange and stablecoin initiatives.
The Numbers
SBI Crypto’s pool contributes 21.46 exahashes per second, a modest slice of Bitcoin’s total hashrate. With a 2.24% share, it sits far behind dominant pools like Foundry USA (24.49%) and AntPool (19.05%). Mid-tier competitors ViaBTC and MARA Pool hold 8.55% and 5.15%, respectively. The pool’s 12th-place ranking underscores its marginal impact on network security. Meanwhile, SBI’s $289 million acquisition of Bitbank signals a major capital shift toward Japan’s exchange market. This deal aims to create the country’s largest crypto trading venue, overshadowing the mining pool’s financial contribution.
Why It Happened
SBI Holdings is aggressively reallocating resources from mining to higher-margin crypto services. The global mining landscape has tightened with rising energy costs, increasing difficulty, and slimmer margins for mid-sized pools. SBI’s decision aligns with a strategic pivot: acquiring Bitbank for $289M to dominate Japan’s exchange market, and launching stablecoins JPYSC and RLUSD. By exiting pooled mining, SBI frees capital and operational focus for these regulated, revenue-generating ventures. The mining pool closure may also reflect insufficient scale to compete with giants like Foundry and AntPool.
Broader Impact
The shutdown is unlikely to disrupt Bitcoin’s hashrate or price, given the pool’s small share. However, it highlights a trend of corporate miners re-evaluating pool operations in a consolidating industry. SBI’s pivot reinforces the narrative that exchange and stablecoin services offer better regulatory clarity and profitability than Bitcoin mining in Japan. Other mid-tier pools may face similar pressure to consolidate or exit.
What to Watch Next
- Monitor miner migration patterns: how quickly SBI’s hashrate redistributes to Braiins, Luxor, and other pools.
- SBI’s Bitbank acquisition closing: regulatory approval and integration timeline.
- Stablecoin launches: JPYSC and RLUSD go-live in Japan, testing mainstream adoption.
This article is for informational purposes only and does not constitute financial advice.
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