Binance Pool is closing. Where will its Bitcoin miners go?
BTC when published $81,161Now $80,568 ▼ −0.73% since it was published
Binance will stop accepting mining shares at 07:00 UTC on November 10. Machines still pointed at its pool after that time will no longer earn through it. The immediate task for miners is a configuration change; the harder choice is who will assemble their blocks, calculate their rewards and hold the proceeds between settlement and withdrawal. The October 13 Binance closure notice covers Pool Savings, Cloud Mining and its transaction accelerator as well as Bitcoin mining. Binance gave a product review as its reason, with no pool profit figure or explanation of where its customers have committed to move. A miner who changes the address in a controller may be working again in minutes. Getting the same payment terms, reliable accounting and acceptable custody arrangements takes more care.
First reported by crypto.news. This page is a short excerpt; the full text is theirs.
