SBI Crypto Shuts Down Mining Pool Controlling 2% of Bitcoin Hashrate

SBI Crypto, a subsidiary of Japanese financial giant SBI Holdings, has announced the closure of its Bitcoin mining pool, which currently accounts for approximately 2% of the global Bitcoin hashrate. The decision comes amid ongoing market pressures and operational challenges in the crypto mining sector. The shutdown is expected to impact the network's hashrate distribution, potentially leading to a temporary shift in mining power among remaining pools. SBI Crypto has not disclosed specific reasons for the closure, but industry analysts point to rising energy costs and declining profitability as key factors. The move underscores the ongoing consolidation in the Bitcoin mining industry, where smaller players are increasingly struggling to compete with larger, more efficient operations. BTC traders and miners should monitor hashrate adjustments closely, as this could influence network difficulty and transaction fees in the short term.