Binance Pool sees hashrate collapse to 9 EH/s ahead of a November 10 service termination, forcing remaining miners to seek new infrastructure providers immediately.
The shutdown of a major mining pool reduces Bitcoin network hashrate, but has limited direct price impact.
Binance Pool's computing power has plummeted from 26 EH/s in December to 9 EH/s as the firm prepares to shutter operations. Miners currently utilizing the platform must migrate their operations to alternative providers before the firm's final November 10 cutoff date.
Binance Pool is shutting down its operations, requiring all current miners to migrate their computing power to other providers by November 10.
The computing power directed at the pool has fallen from 26 EH/s in December to approximately 9 EH/s.