SBI Crypto shuts Bitcoin mining pool after 5-year run
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- SBI Crypto is shutting down its Bitcoin mining pool after five years, directing affected miners to alternatives Braiins, Luxor, and NeoPool
- Foundry USA leads the network at roughly 24.49% of global hashrate, followed by AntPool at about 19.05%, with ViaBTC (~8.55%) and MARA Pool (~5.15%) trailing, per SimpleMining data
- Braiins and Luxor, two of the recommended alternatives, each control roughly 2-3% of global Bitcoin hashrate
- SBI Holdings agreed to acquire full control of Japanese crypto exchange Bitbank for 46.7 billion yen ($289 million), aiming to build Japan's largest crypto exchange
- SBI is backing JPYSC, a trust-bank-backed yen stablecoin, and supporting Ripple's rollout of the Ripple USD (RLUSD) stablecoin in Japan
Why it matters: SBI Crypto's mining pool was a minor player dwarfed by Foundry USA (~24.49%) and AntPool (~19.05%), so its exit barely dents the network's ~600+ EH/s hashrate. What matters is the strategic signal: SBI Holdings is reallocating capital from mining infrastructure toward owning Japan's largest exchange via the ¥46.7 billion Bitbank deal and building stablecoin rails with JPYSC and RLUSD.
