SBI Crypto Shuts Down Mining Pool Amid Industry Consolidation

SBI Crypto, the Japanese financial conglomerate's digital asset mining subsidiary, is shutting down its mining pool operations on July 31. The company will stop accepting new mining contributions at 10:00 p.m. UTC on July 30.

In a formal notice to miners, SBI Crypto advised them to continue their activities until the official shutdown to ensure all contributions are accurately recorded for the final reward distribution.

The closure of the pool marks a strategic shift in focus for SBI Group, which continues to hold significant interests in other areas of digital finance. The company's decision aligns with industry trends of consolidation and refocusing by larger financial entities within the SBI Group.