SBI Crypto pulls the plug on its Bitcoin pool — five years in, the exit date is July 31 ⛏️

SBI Crypto, the cryptocurrency-focused arm of Japanese financial conglomerate SBI Holdings, will shut down its Bitcoin mining pool on July 31, ending a five-year run as one of Japan's better-known corporate mining operators. The company announced the closure Wednesday and did not provide a reason, but said it would continue accepting mining shares until the cutoff so final payouts can be calculated correctly. "We would sincerely appreciate your continued support by mining with us until the final day of operation," the firm said.

According to SimpleMining data cited by one outlet, SBI Crypto's pool currently ranks as the 12th largest Bitcoin mining pool globally with about 21.46 exahashes per second (EH/s) of hashrate and roughly 2.24% of total Bitcoin ($BTC) network share, placing it far behind leaders Foundry USA at about 24.49% and AntPool at around 19.05%. Mid- and lower-tier pools ViaBTC and MARA Pool account for about 8.55% and 5.15% of global Bitcoin mining hashrate, respectively. Separate Hashrate Index data referenced in a second report ranked the pool 11th by hash rate, and the service also supported mining of Bitcoin Cash and Litecoin.

SBI Crypto directed miners to alternative pool operators including Braiins, Luxor and NeoPool as it prepares to wind down. Braiins and Luxor are established mid-tier mining infrastructure providers, each controlling around 2%-3% of global Bitcoin hashrate, while NeoPool is not included in the top-ranked pools by hashrate. "Some operators may offer special programs or preferential conditions for clients transitioning from SBI Crypto," the company said, adding that customers are encouraged to contact each operator directly.

The shutdown comes as SBI Holdings continues to expand its broader cryptocurrency strategy beyond mining. The parent company recently agreed to acquire full control of Japanese crypto exchange Bitbank in a 46.7 billion Japanese yen ($289 million) deal, aiming to create Japan's largest cryptocurrency exchange. SBI has also increased its focus on stablecoins, backing JPYSC, a new trust bank-backed Japanese yen stablecoin, and supporting Ripple's rollout of the Ripple USD (RLUSD) stablecoin in Japan.

The Bitcoin mining business has become increasingly challenging for companies amid $BTC's falling price, with the leading cryptocurrency down more than 50% from its all-time high of $126,080 set last October. Major miners including Bitfarms have shifted toward artificial intelligence, with Bitfarms winding down its operations and rebranding to Keel Infrastructure last year. SBI Crypto's closure is the latest in that broader pivot away from dedicated Bitcoin pool services.