Binance shuts BTC mining pool, Zcash miners living the dream

Homepage > News > Business > Binance shuts BTC mining pool, Zcash miners living the dream TL;DR: Binance is shutting down its Binance Pool mining unit on November 10, a sign of how tough BTC mining economics have become. Some miners are pivoting to AI data centers, while others are chasing Zcash, which currently pays nearly three times as much per day as BTC mining. Meanwhile, Ethiopia is turning on miners, which has stalled BitFuFu’s acquisition there, and South Africa is considering discounted power for flexible high-load users. Key Takeaways: Binance Pool is closing on November 10, alongside related products, including Pool Saving, Cloud Mining and Transaction Accelerator. Lucrative Zcash mining “similar to mining Bitcoin in 2016 and 2017” with returns of about $1,000 profit per MWh, compared with under $150 for BTC. Power to miners has been throttled to 23% of contracted amounts. BitFuFu’s acquisition of an 80MW Ethiopian facility has stalled amid a power-supplier dispute, which puts its deployed rigs at risk of seizure. South Africa’s NERSA has proposed a two-year pilot offering flexible high-load users, miners included, power at rates two-thirds below household price...