SBI Holdings subsidiary will shutter its Bitcoin mining pool, currently ranking 11th by hash rate, without disclosing a specific reason.
SBI Crypto, a unit of Japanese financial group SBI Holdings, will terminate its Bitcoin mining pool operations on July 31. The pool, the 11th largest by hash rate according to Hashrate Index, allows users to mine Bitcoin, Bitcoin Cash, and Litecoin. The firm stated operations will continue normally until the closure date, with payouts proceeding as usual.
The mining pool has been active since at least 2017, enabling smaller miners to combine computational power for Bitcoin block rewards. SBI did not provide a reason for the shutdown but noted a broader industry shift toward AI-focused operations among miners.
SBI Holdings recently agreed to acquire Japanese cryptocurrency exchange Bitbank earlier this week, signaling a potential strategic realignment in its digital asset business.