Japanese conglomerate ends operations July 31, directing miners to Braiins, Luxor, NeoPool
SBI Crypto will shut down its Bitcoin mining pool on July 31 after more than five years of operation, the cryptocurrency division of Japanese financial conglomerate SBI announced this week. The closure marks the end of one of Japan’s better-known corporate mining pool operations.
SBI Crypto’s mining pool currently commands 21.46 exahashes per second (EH/s), representing 2.24% of total Bitcoin network hashrate and ranking 12th globally. The company launched the pool in March 2021, entering a market dominated by larger operators including Foundry USA (24.49% share), AntPool (19.05%), and ViaBTC (8.55%).
SBI Crypto did not disclose its rationale for closing the pool. In a statement to miners, the company said: “We would sincerely appreciate your continued support by mining with us until the final day of operation.”
The company directed departing miners toward alternative operators. “Some operators may offer special programs or preferential conditions for clients transitioning from SBI Crypto,” SBI Crypto noted, naming Braiins, Luxor, and NeoPool as recommended alternatives. Braiins and Luxor each hold approximately 2% to 3% of global Bitcoin mining hashrate, while NeoPool was listed without market share data.
The shutdown reflects SBI Holdings’ strategic shift away from mining operations. The parent company is expanding its cryptocurrency focus in other directions. SBI Holdings recently agreed to acquire full control of crypto exchange Bitbank for 46.7 billion Japanese yen ($289 million), signaling a pivot toward trading and exchange services.
SBI is also increasing its emphasis on stablecoin infrastructure. The conglomerate backs JPYSC, a Japanese yen stablecoin, and is supporting Ripple’s rollout of Ripple USD (RLUSD) in Japan. These moves position SBI Holdings as a broader cryptocurrency and digital asset player rather than a mining-focused operator.
Miners using SBI Crypto’s pool must transition to alternative operators before July 31. The company will stop accepting new mining shares on that date, ending a five-year chapter in Japan’s corporate mining landscape.
