Bitcoin mining pool once handling 2.3% of network shuts after hashrate falls 65%

The article reports the imminent shutdown of a Bitcoin mining pool, Binance Pool, which at its peak managed 2.3% of the entire Bitcoin network's hashrate. This decision comes after a substantial decline in the pool's computing power, which plummeted by 65% from 26 exahashes per second (EH/s) in December to approximately 9 EH/s. Miners currently utilizing Binance Pool are now mandated to transition to an alternative mining provider before a hard cutoff date of November 10. The closure signals a shift in the mining ecosystem and requires participants to reallocate their computational resources.