Another mining operation shutting down

[KiaKia]

SBI crypto is a mining company that controls 2% of the total mining hashrate that exists on Bitcoin network, it's shocking that I woke up to the news that they are closing down their mining operation.

This company has 20EH/s, that's a lot, I am wondering why they decide to close down, but honestly speaking this will be noticeable on mining difficulty as a whole don't you think?



What I am about to share is not confirmed yet but is this another AI data center taking over in the underground? Also do you think that this 2% hashing power gone will be noticeable? In terms of solving blocks?

https://www.coindesk.com/business/2026/07/02/sbi-crypto-to-shut-down-mining-pool-that-holds-roughly-2-of-bitcoin-s-hashrate

[_act_]

What I am about to share is not confirmed yet but is this another AI data center taking over in the underground? Also do you think that this 2% hashing power gone will be noticeable? In terms of solving blocks?

They do not let anyone know the reason they want to stop bitcoin mining. It is only them that know the reason they want to stop bitcoin mining. It is very possible that it is because they want to go into AI center, but no one knows yet.

This is the original announcement: https://sbicrypto.com/announcements/

The 2% hashrate will not be noticable. Some miners will later leave the mining pool to join another mining pool.

[Mia Chloe]

SBI crypto is a mining company that controls 2% of the total mining hashrate that exists on Bitcoin network, it's shocking that I woke up to the news that they are closing down their mining operation.

I think this is probably an example of the he cases we might have gradually that Will over time prompt people to discuss more on the future of the mining industry as we approach smaller and smaller block rewards. Hardware is getting expensive as well as electric costs too in some countries it ain't even worth it.

Considering the competition 2% is actually kinda huge if compared to the percentage a solo miner generates on average. However it's gonna have a near zero effect in the general network.

[philipma1957]

well they could have all s21 units.

that is 200 x .029 or 5.80 in earnings prior to power cost.

they burn 3.5x24=84  kwatts actually more like 88

so 88x.06=5.28

5.80-5.28=0.52

52 cents a machine per day is bad

1 eh = 1 million th

20 eh = 20 million th

20 million th means 100,000 x 200=20,000,000

so they need to dump 100,000 s21 units

buy s23 hydro is very costly

they quit instead.

[FP91G]

I believe smaller companies don't have a large financial cushion and will close or refocus their businesses on more profitable ventures. For small mining companies, the cost of mining Bitcoin is currently higher than the market price. Although the reasons haven't been stated, I believe losses are the main reason.

[ROCterm]

If Bitcoin keeps going down like into the 50s we will likely see more companies like this closing down, it's getting harder to mine Bitcoin and stay profitable I believe, even right now some people can only keep mining with few numbers of miner turned on.

They will have to sell others to avoid further losses, the game will be left for people who have extremely cheap electricity in their city or country, I will like to know if this will affect the price of miners too?

It's going to get boring soon, probably when we hit the bottom finally,  I expect Bitcoin to stay in bottom range for few months before we start driving again, but what did I know? Just a newbie learning about Bitcoin charts.

[NotFuzzyWarm]

They are a mining pool - not a mega farm, and the actual miners have a month to switch to another pool. So, it should not affect global hash rate. A better question is, who are the actual miners that were using their pool and what was their incentives for it?

[FP91G]

They are a mining pool - not a mega farm, and the actual miners have a month to switch to another pool. So, it should not affect global hash rate. A better question is, who are the actual miners that were using their pool and what was their incentives for it?

This company also had its own equipment that worked on this pool. Otherwise, it wouldn't have been profitable.
Only the mining pool is being closed, and they'll probably redirect the rest of their equipment to other pools they recommended. I didn't think that maintaining their pool was so expensive that the company decided to close it.