SBI Crypto, the cryptocurrency subsidiary of SBI Holdings, has announced that it will officially discontinue its Bitcoin mining pool operations on July 31, ending nearly eight years of mining services.
While the company did not provide a specific reason for the decision, the closure follows a broader industry trend as mining companies increasingly redirect capital toward artificial intelligence and high-performance computing.
SBI Ends Nearly Eight Years of Mining Operations
SBI Crypto has been involved in cryptocurrency mining since 2017, operating one of the world's largest mining pools.
According to Hashrate Index, the company currently manages the 11th-largest Bitcoin mining pool by network hash rate. In addition to Bitcoin, the platform also supports Bitcoin Cash and Litecoin mining.
The company confirmed that mining operations will continue as normal until the scheduled shutdown.
Customers Encouraged to Migrate
To help miners transition smoothly, SBI Crypto said it is already working with other mining pool operators.
The company is holding both business and technical discussions with leading mining platforms, including Braiins and Luxor, to assist users in moving their mining operations.
SBI also noted that some operators may provide special incentives or preferential terms for customers migrating from its platform.
Bitcoin Mining Faces Growing Pressure
Mining pools allow individual miners to combine their computing power to improve their chances of successfully mining Bitcoin blocks.
Rewards earned by the pool are then distributed proportionally based on each participant's contributed hash rate.
However, the economics of Bitcoin mining have become increasingly challenging.
Lower Bitcoin prices, rising operational costs, and higher competition have significantly reduced mining profitability, forcing many companies to rethink their business models.
AI Continues to Attract Mining Companies
SBI Crypto's exit reflects a growing industry shift toward artificial intelligence infrastructure.
Several publicly traded mining companies have already diversified into AI data centers and high-performance computing, where demand continues to grow rapidly.
Last year, Bitfarms announced plans to transition away from traditional Bitcoin mining as it rebranded to Keel Infrastructure, focusing on AI-related services.
Other major miners have signed multi-billion-dollar agreements to provide computing capacity for artificial intelligence while maintaining smaller Bitcoin mining operations.
SBI Remains Committed to Crypto
Although SBI is ending its mining pool business, the parent company continues expanding its broader cryptocurrency operations.
Earlier this week, SBI Holdings announced an agreement to acquire Japanese crypto exchange Bitbank in a deal valued at approximately $289 million.
The acquisition demonstrates that while the company is stepping away from mining infrastructure, it remains committed to strengthening its position in the digital asset industry through trading, financial services, and blockchain-related businesses.
The decision highlights a growing divide across the crypto sector, where companies are increasingly concentrating on business lines that offer stronger long-term growth and more predictable returns than Bitcoin mining.
