SBI Crypto, a subsidiary of the Japanese financial services giant, has officially declared it will cease its Bitcoin mining pool operations. The move marks a significant shift for the firm, which currently accounts for approximately 2% of the global Bitcoin network's total computational power.
The company has issued a strict deadline for its participants. All miners connected to the pool must migrate their hash power to alternative providers before the service terminates on July 31. After this date, the pool will no longer accept contributions or process blocks.
While the firm did not provide a detailed rationale for the closure, the decision reflects the ongoing volatility and rising costs within the global cryptocurrency mining landscape. Market observers are now watching to see how this transition impacts hash rate distribution among remaining major pools.
Users are urged to finalize their transition plans immediately to avoid any potential downtime or loss of rewards during the migration process.
