SBI Crypto to Shut Down Bitcoin Mining Pool Service on July 31

According to Decrypt, SBI Crypto, a subsidiary of Japanese financial giant SBI Holdings, announced on July 3 that it will shut down its Bitcoin mining pool service on July 31. The mining pool, ranked 11th globally on Hashrate Index, has been operational since 2017. Until the shutdown date, the platform will continue normal operations, allowing customers to continue mining and receive rewards.

SBI Crypto is coordinating with other mining pool operators, including Braiins and Luxor, to facilitate a smooth transition for its users. Meanwhile, SBI Holdings is deepening its presence in the crypto market, having announced earlier this week the acquisition of Japanese cryptocurrency exchange Bitbank for $289 million.