SBI Crypto will officially discontinue its Bitcoin mining pool on July 31, ending more than five years of operations as the company shifts its focus toward broader cryptocurrency initiatives. The mining pool currently ranks among the world’s largest, controlling roughly 2.2% of Bitcoin’s total network hashrate.
The company announced that mining shares will no longer be accepted after the shutdown date and advised miners to continue directing their computing power to the pool until operations cease to ensure accurate calculation of final rewards.
One of Japan’s Largest Mining Pools Exits
Launched in March 2021, SBI Crypto entered the Bitcoin mining industry during a period of rapid global expansion in mining infrastructure. Over the years, the platform grew into the 12th-largest Bitcoin mining pool globally, contributing approximately 21.46 EH/s of computing power to the network.
Despite its strong position, the pool remained considerably smaller than industry leaders such as Foundry USA, which controls nearly 25% of global Bitcoin hashrate, and AntPool, with around 19%. Other major competitors including F2Pool, SpiderPool, ViaBTC, and MARA Pool continue to dominate the mining landscape.
Miners Encouraged to Transition
Ahead of the shutdown, SBI Crypto is helping miners migrate by recommending several alternative mining pools, including Braiins, Luxor, and NeoPool. The company noted that some providers may offer special incentives or transition programs for former SBI Crypto participants.
The goal is to allow miners to seamlessly redirect their hashrate without disrupting mining operations or reward generation.
SBI Expands Beyond Mining
While the company has not disclosed a specific reason for ending its mining pool, the move aligns with SBI Holdings’ broader strategy of expanding its presence across other sectors of the digital asset industry.
In recent months, SBI has announced plans to acquire Bitbank, one of Japan’s largest cryptocurrency exchanges, in a deal valued at approximately 46.7 billion yen ($289 million). The financial group has also increased its focus on digital payments and stablecoins by supporting JPYSC, a trust bank-backed Japanese yen stablecoin, and facilitating the rollout of Ripple USD (RLUSD) in Japan.
Why It Matters
The closure of SBI Crypto’s mining pool highlights the ongoing evolution of the Bitcoin mining industry, where operational scale and profitability continue to reshape competition. As major financial institutions diversify into exchanges, tokenization, and stablecoin infrastructure, mining is becoming just one part of a much broader digital asset strategy.
SBI’s exit from mining pool operations reflects this shift, signaling that traditional financial firms increasingly see greater long-term opportunities in crypto infrastructure and regulated financial services than in mining alone.
