SBI Crypto will shut down its Bitcoin mining pool on July 31, ending more than five years of operations and removing a top-12 player from the global hashrate distribution.
Pool closure confirmed
The Japanese financial group’s crypto unit said it will stop accepting mining shares on the same date and asked miners to continue contributing until then to ensure accurate final payouts. No reason was provided for the closure.
The pool currently accounts for roughly 2.2% of Bitcoin’s total network hashrate, according to SimpleMining data, with processing power near 21.46 exahashes per second.
Market share to be redistributed
The exit will force a reshuffle of hashrate across remaining mining pools. Larger operators continue to dominate the sector, with Foundry USA controlling about 24.49% of global hashrate and AntPool around 19.05%. Mid-sized pools such as ViaBTC and MARA Pool hold about 8.55% and 5.15%, respectively.
SBI Crypto directed miners to migrate to alternative providers, including Braiins, Luxor, and NeoPool. Braiins and Luxor each control roughly 2%–3% of the network, while NeoPool does not rank among the top pools by share.
Pressure builds across mining sector
The closure comes as Bitcoin mining faces mounting financial strain. Hash prices have dropped to five-year lows, squeezing margins and pushing less efficient operations toward unprofitability. The network has already reflected this pressure, with a sharp 10.09% difficulty adjustment downward on June 14, 2026, signaling that a notable portion of computing power has gone offline.
The removal of a pool holding over 2% of global hashrate underscores an ongoing consolidation trend, with activity increasingly concentrated among larger, better-capitalized players.
Strategic shift at SBI
SBI Holdings appears to be pivoting away from mining and toward broader digital asset services. The company recently agreed to acquire full ownership of the cryptocurrency exchange Bitbank for 46.7 billion yen, or about $289 million. The deal is expected to strengthen its position in Japan’s digital asset market and could make it the country’s largest exchange by customer assets.
The group is also expanding its role in the stablecoin sector, backing initiatives such as the yen-pegged JPYSC and Ripple’s dollar-based RLUSD as part of a wider push into regulated digital finance infrastructure.
Broader market backdrop
The mining sector’s challenges are unfolding alongside weak cryptocurrency market conditions. The Crypto Fear & Greed Index recently fell to 11, indicating extreme fear among traders.
Bitcoin started the second half of the year near $58,494, down about 53% from its October 2025 peak, marking its worst first-half performance since 2022. Price pressure has been tied to sustained outflows from ETF products and a strong dollar environment. A brief rebound above $60,000 on July 1 has yet to confirm a sustained recovery, leaving near-term direction dependent on whether buying demand can offset ongoing selling pressure.
As SBI exits mining, diversify your strategy by exploring Bitcoin mining fundamentals and crypto derivatives opportunities.
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