Binance’s Mining Pool Could Disrupt the Entire Mining Industry

Binance has launched its own mining pool. This could spell bad news for miners, but probably not for the reason you’re thinking of. We’re all aware that Binance is continuing to extend its reach across the industry. The exchange’s purchase of CoinMarketCap for a reported $400 million signaled a bold step toward grabbing attention at the top of the crypto funnel, and its recent foray into mining just ahead of the 2020 halving shows that Binance is also interested in having influence at the source.

By all accounts, the company culture at Binance appears to be one of innovation and experimentation. CEO Changpeng Zhao is known to be approachable, and when good ideas come from within the company, it is able to exercise its enormous user base and war chest to enter new markets.

The question is, what impact will Binance’s pool have on miners themselves?

To start with, the impact may be minimal. Binance’s initial target market will be miners who currently mine via the pools of other…