Binance confirmed the shutdown of its Bitcoin mining pool on Tuesday, a step that eliminates about 65% of the network’s total hash rate, according to reports from Startup Fortune. The abrupt loss of computing power has sparked debate among analysts about the short‑term resilience of Bitcoin’s proof‑of‑work consensus and the broader implications for cryptocurrency markets.
Scale of the disruption
The Binance pool had been one of the largest contributors to Bitcoin’s global mining capacity, though exact market‑share figures vary among sources. Startup Fortune reported that the pool’s departure “crashed” the hash rate by roughly two‑thirds, a magnitude rarely seen outside of major protocol upgrades or coordinated attacks. By contrast, no other outlet provided a different percentage, allowing the 65% figure to be presented as the prevailing estimate.
Market reaction
In the wake of the announcement, the price of Binance’s native token, BNB, held steady around $729, as noted by TechBullion. The outlet also highlighted that the price stability occurred despite the pool’s exit, suggesting that investors may be compartmentalizing the operational change from broader token fundamentals. TechBullion further mentioned a speculative target of 100× set by an individual identified only as “Pepeto,” though the claim was presented without corroborating evidence.
"The shutdown slashes the global hash rate by roughly 65%, a shift that could affect network security and mining profitability," the reports said.
The hash‑rate decline is expected to lower the overall difficulty of mining new blocks, at least temporarily. Miners who remain online may see a modest increase in reward probability, but the reduction in total computational power could also make the network more vulnerable to short‑term attacks, such as a 51% takeover, if a single entity were to amass sufficient resources.
Bitcoin’s price itself has shown limited movement during the same period, hovering near recent highs. Analysts note that while hash‑rate fluctuations can influence miner revenue, they rarely translate directly into price volatility unless accompanied by broader market sentiment shifts. The current environment, marked by relatively stable Bitcoin valuations, suggests that the market may be absorbing the hash‑rate shock without major panic.
Industry observers point to the possibility that other mining pools will absorb a portion of the displaced hash power. Historically, when large pools exit, smaller or rival pools experience a surge in participation as miners seek new avenues for revenue. However, the speed and extent of such redistribution remain uncertain, and the interim dip in network security could linger for days or weeks.
Binance has not disclosed a detailed timeline for the pool’s decommissioning or the strategic rationale behind the decision. The company’s broader focus on exchange services and its rapidly growing ecosystem of decentralized finance products may have influenced the shift, but official statements are pending. For now, the crypto community watches closely to gauge whether the hash‑rate decline will be a brief blip or a signal of deeper structural changes in Bitcoin mining.
Market Snapshot
| Asset | Price | 24h | Market Cap |
|---|---|---|---|
 Bitcoin BTC | $81,892 | +0.33% | $1646.0B |
 Ethereum ETH | $2,417 | -0.61% | $295.2B |
 BNB BNB | $720.86 | -0.11% | $96.0B |
 XRP XRP | $1.3 | -0.64% | $81.8B |
 Solana SOL | $103.7 | -1.10% | $61.1B |
 Dogecoin DOGE | $0.0793 | -1.21% | $12.4B |
 Cardano ADA | $0.220 | -1.38% | $8.3B |
Live data: CoinGecko — 2026-10-18 09:20 UTC
