SBI Crypto, the cryptocurrency-focused arm of Japan’s major financial group SBI Holdings, has announced it will discontinue its Bitcoin mining pool operations on July 31 after five years in the industry. The company will also stop accepting new mining shares on the same date. No explanation was offered for the decision to close.
Shutdown timeline finalized
To ensure accurate final payouts, SBI Crypto has requested that all miners continue directing their computing power to the pool until the service is halted. The company expects this support to remain in place until the last operational day.
The company underlined that miners should maintain their hashpower in the pool until operations end, so that all final payments can be processed smoothly.
This move marks the closure of one of Japan’s prominent institutional Bitcoin mining pools, signaling a shift in SBI’s strategy toward other segments of the cryptocurrency business outside mining.
Market position and current scale
SBI Crypto introduced its Bitcoin mining pool in March 2021, entering a market then dominated by giants like Poolin, F2Pool, and Binance Pool.
According to SimpleMining data, SBI Crypto is currently ranked as the world’s 12th largest Bitcoin mining pool, commanding approximately 21.46 exahashes per second—representing about 2.24 percent of the total computational power of the Bitcoin network.
Glossary: Exahash per second is a metric indicating the total computational power used in mining. 1 EH/s equals one quintillion (1,000,000,000,000,000,000) hash attempts per second and tracks how competitive the Bitcoin network is.
Within the same dataset, Foundry USA controls roughly 24.49 percent of the network, while AntPool commands about 19.05 percent. Among mid-sized players, ViaBTC holds around 8.55 percent and MARA Pool has a 5.15 percent share. These figures illustrate that while SBI Crypto is a visible player worldwide, it remains well behind the market leaders.
Transition pathway for miners underway
As the service winds down, SBI Crypto has advised its users to migrate to alternative Bitcoin mining pools, naming Braiins, Luxor, and NeoPool among recommended operators.
Based on SimpleMining statistics, Braiins and Luxor each control about 2 to 3 percent of global Bitcoin hashpower and are recognized for their robust infrastructure. NeoPool, on the other hand, is not among the top-ranking pools by processing power.
SBI Crypto has noted that some operators may offer exclusive programs or advantageous conditions for migrating customers, urging users to contact these pool operators directly for more details.
SBI shifts focus beyond mining
The closure coincides with SBI Holdings’ broader pivot in the crypto sector. Recently, the company agreed to acquire full ownership of cryptocurrency exchange Bitbank for 46.7 billion Japanese yen, equivalent to roughly 289 million US dollars.
As one of Japan’s largest financial groups, SBI Holdings operates across banking, securities, and digital assets. The group is also expanding its efforts in stablecoins, supporting initiatives like the yen-pegged JPYSC and facilitating the spread of Ripple USD within Japan.
