Mining Pool's Final Countdown: Operational Data Reveals Sector Pressure
As the November 10 shutdown date approached, the mining pool operated by a major exchange entered its final operational phase. Data from its last full week shows the pool successfully mined only 1 Bitcoin block—representing a mere 0.11% of the approximately 925 blocks produced network-wide during the same period.
Sharp Hashrate Decline: 65% Drop in Under a Year
The pool's computational power tells a more dramatic story. From a peak of around 26 EH/s in December 2025, its hashrate fell to approximately 9.2 EH/s by October of this year. This constitutes a 65% reduction in less than twelve months—a significant contraction for a once-major mining pool.
The Final Hours of Operation
During the last 24 hours before termination, the pool produced zero blocks. Its final block was mined at 09:15 on November 6 at block height 974,743, marking the end of its block production entirely.
What the Numbers Signal for the Industry
These metrics point to broader trends within the cryptocurrency mining sector:
- Intensifying Competition: Rising Bitcoin network difficulty continues to squeeze smaller and mid-sized mining pools.
- Operational Cost Pressures: Escalating electricity, hardware, and maintenance expenses may render some pool operations unsustainable.
- Strategic Reprioritization：Exchanges may be reallocating resources from capital-intensive mining operations toward core trading and financial services.
The shutdown of a significant mining pool reflects a broader industry consolidation. When major platforms exit the mining pool business, the operating environment for smaller participants often becomes more challenging. This trend could lead to increased centralization of hash rate, potentially impacting the decentralized nature of the network over the long term.