Woofun AI reports that SBI Crypto, a division of SBI, will terminate its Bitcoin mining pool operations on July 31 following a five-year run. The company announced Wednesday that it will stop accepting mining shares at the same time, urging participants to maintain hashrate contributions until the deadline to ensure accurate final payouts.

Launched in March 2021, the pool entered a sector then dominated by Poolin, F2Pool, and Binance Pool. SimpleMining data indicates SBI Crypto currently ranks as the 12th largest Bitcoin mining pool globally, operating with 21.46 exahashes per second (EH/s) and capturing 2.24% of the network. This share trails significantly behind Foundry USA at 24.49% and AntPool at 19.05%, while mid-tier operators ViaBTC and MARA Pool hold 8.55% and 5.15% respectively.

Woofun AI data shows that miners are being directed toward alternative operators including Braiins, Luxor, and NeoPool to facilitate the transition. Braiins and Luxor function as established mid-tier infrastructure providers, each commanding approximately 2%-3% of global Bitcoin hashrate, whereas NeoPool does not appear in top-ranked lists. SBI Crypto noted that some operators may offer special programs or preferential conditions for transitioning clients, advising direct contact for specifics.

This operational shift aligns with SBI Holdings' broader strategy to expand beyond mining into exchanges and stablecoins. The conglomerate recently agreed to acquire full control of Bitbank in a 46.7 billion Japanese yen ($289 million) deal to establish Japan's largest cryptocurrency exchange.

Furthermore, SBI is backing JPYSC, a trust bank-backed Japanese yen stablecoin, and supporting Ripple's rollout of the Ripple USD (RLUSD) stablecoin in Japan.

The closure signifies the end of a prominent corporate mining pool operation in Japan and underscores a pivot in the group's cryptocurrency strategy. As SBI redirects resources toward exchange dominance and stablecoin integration, the era of its direct mining participation concludes.