📅 2 July 2026 | EarnFree.in | Bitcoin Mining & Infrastructure
Two significant Bitcoin infrastructure stories broke this week. SBI Crypto is shutting down its mining pool, which holds roughly 2% of Bitcoin’s total hashrate — miners must redirect their hashrate before the July 31 cutoff as the pool stops accepting contributions after that date. Separately, a Nasdaq-listed Korean media company that tried to copy Saylor’s Bitcoin playbook is completely dumping crypto for AI — its balance now confirmed at zero Bitcoin after once lining up $1 billion in financing to buy 10,000 BTC.
📊 Bitcoin Infrastructure Shakeup
| Event | Detail |
|---|---|
| SBI Crypto mining pool | Shutting down — holds ~2% of BTC hashrate |
| Cutoff date | July 31, 2026 |
| Action required | Miners must redirect hashrate before cutoff |
| Korean firm’s original plan | $1B financing to buy 10,000 BTC (Saylor-style) |
| Current BTC balance | Zero — confirmed via filing |
| New pivot | AI infrastructure |
| Reason for pivot | Fighting to stay listed on Nasdaq |
🔍 Why SBI Crypto’s Exit Matters
A mining pool holding 2% of Bitcoin’s global hashrate exiting the business is a meaningful network event. It doesn’t threaten Bitcoin’s security (hashrate redistributes to other pools), but it signals that even well-capitalised institutional players (SBI, Japan’s financial giant) are consolidating crypto mining operations amid thin margins post-halving. This follows SBI’s broader institutional crypto pivot seen in its Bitbank acquisition — SBI appears to be exiting low-margin mining infrastructure while doubling down on exchange/custody businesses.
⚠️ The Cautionary Tale — Corporate Bitcoin Treasury Failures
The Korean firm’s collapse from “$1B to buy 10,000 BTC” ambition to zero balance and an AI pivot is a stark reminder: not every company can execute the Strategy/Saylor playbook. Poor timing, insufficient capital discipline, and failure to maintain listing requirements led to a complete unwind — a cautionary case study as more companies consider corporate Bitcoin treasuries.
⚠️ Disclaimer: This is not financial advice.
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