SBI Crypto, a subsidiary of Japan’s SBI Holdings, announced it will close its Bitcoin mining pool on July 31, 2026. Launched in March 2021, the operation had grown to a 20,412 PH/s hashrate—placing it among the top‑ten pools worldwide. The shutdown comes as Bitcoin’s price sits around $61,390, up more than 2 % in the last 24 hours, while the market’s fear‑greed index remains in the “Extreme Fear” zone.
For the mining community, the exit means a significant chunk of hashing power will be reallocated. Smaller pools or individual miners may absorb the capacity, potentially lowering the overall cost of mining per unit of hashrate. This redistribution could lead to a modest increase in block rewards for those who take on the extra work, but it also underscores the ongoing consolidation trend in the industry as operators seek more efficient, cost‑effective operations.
Retail holders of Bitcoin need not worry about immediate price impacts, but the long‑term effect on network security and mining decentralisation is worth watching. A sudden drop in hashrate concentration could make the network more resilient, while a rapid consolidation could raise concerns about centralisation. As the market continues to oscillate—Bitcoin up 2.3 % today and Ethereum up 4.9 %—the mining landscape will likely adjust, with new entrants or partnerships filling the void left by SBI Crypto. Keep an eye on announcements from other large pools and any strategic moves that could reshape the mining ecosystem in the coming months.