The cryptocurrency mining landscape is shifting, and recent data reveals a significant development on the Bitcoin SV (BSV) blockchain. As of June 16, Binance Pool has become the largest independent mining entity on the BSV network, capturing 26.39% of total block production for that day. This sudden rise has sparked widespread speculation across the crypto community about Binance’s renewed interest in BSV — both from a mining and potential listing perspective.
Mining statistics sourced from Coin Dance show that other major players in the BSV ecosystem include Huobi Pool at 13.19%, with ViaBTC and SVPool each holding 12.5%, and TAAL at 7.64%. The dominance of Binance Pool marks a notable departure from previous mining distributions and raises questions about the exchange's strategic intentions.
The Significance of Binance’s Mining Activity on BSV
While Binance itself has not officially announced any partnership or direct involvement in mining BSV, the fact that blocks are being mined through Binance Pool means the platform is still benefiting financially. According to Cointelegraph, Binance collects a standard 2.5% fee from miners using its infrastructure — regardless of which cryptocurrency is being mined.
A Twitter user named AzhellTom claimed to have spoken directly with Binance CEO Changpeng Zhao (CZ), who clarified: “Others are using Binance Pool to mine BSV.” This suggests that while Binance may not be actively promoting BSV mining, it is not restricting users from doing so either. In essence, Binance provides the infrastructure, and third-party miners are leveraging it for BSV operations.
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This passive yet impactful role allows Binance to remain involved in the BSV ecosystem without making any formal commitments — a strategic move that keeps options open while generating revenue.
Historical Context: Why Did Binance Delist BSV?
To understand the current situation, it's essential to revisit the events of April 2019, when Binance made headlines by announcing the delisting of Bitcoin SV.
Bitcoin SV emerged from a contentious hard fork of Bitcoin Cash, championed by self-proclaimed "Satoshi Nakamoto" Craig Wright — commonly referred to in the crypto space as "Craig Wright" or "nChain CEO." His persistent claims of being the original creator of Bitcoin have long been met with skepticism and backlash from developers, researchers, and key figures in the decentralized community.
In April 2019, tensions escalated when Wright threatened legal action against Hodlonaut, a well-known advocate for the Bitcoin Lightning Network, after Hodlonaut launched a satirical “I Am Not Satoshi” campaign. The move was widely seen as an attack on free speech within the crypto space.
In response, CZ publicly stated: “CZ is not Satoshi. Satoshi is not CZ. We are going to delist BSV!” On April 15, Binance officially announced the removal of BSV trading pairs, effective April 22. The decision triggered an immediate market reaction — BSV prices dropped nearly 10% within 30 minutes, bottoming out at $60.10, while BCH saw a surge of over 9% during the same period.
Could BSV Be Returning to Binance?
With Binance Pool now leading in BSV block production, many are wondering: Is this a sign that Binance is warming up to BSV again?
There is no official confirmation — yet the symbolism is hard to ignore. Even if third-party miners are driving the activity, Binance’s infrastructure is now central to the health and security of the BSV blockchain. That kind of influence rarely goes unnoticed.
Moreover, exchanges often monitor on-chain activity before considering relisting decisions. Strong mining participation, network stability, and growing community engagement are all factors that could sway exchange listing committees.
While relisting remains speculative at this stage, the mere presence of substantial mining power under the Binance Pool banner signals a potential thaw in relations — or at least a neutral stance toward BSV operations.
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Core Keywords Integration
Throughout this analysis, several core keywords naturally emerge due to their relevance:
- Binance Pool
- Bitcoin SV (BSV)
- Cryptocurrency mining
- Blockchain network
- Mining pool dominance
- Exchange delisting impact
- Decentralized consensus
- Miner fee revenue
These terms reflect both technical and market-driven aspects of the current scenario and align with common search queries related to mining trends, exchange policies, and blockchain governance.
Frequently Asked Questions (FAQ)
Q: Is Binance officially mining Bitcoin SV?
A: No direct evidence suggests that Binance itself is mining BSV. Instead, independent miners are using Binance Pool’s infrastructure to mine the coin. Binance benefits by collecting a 2.5% mining fee from these operations.
Q: Why did Binance delist BSV in the first place?
A: The delisting followed public controversy involving Craig Wright (BSV’s main supporter), who threatened legal action against critics in the crypto community. In response, Binance CEO CZ declared that “CZ is not Satoshi” and announced plans to remove BSV from the platform, citing values around free speech and decentralization.
Q: Does high mining activity mean BSV will be relisted on Binance?
A: Not necessarily. While increased mining via Binance Pool may indicate growing network legitimacy, there has been no official statement regarding relisting. However, sustained miner support could influence future decisions.
Q: How does a mining pool affect blockchain security?
A: A more distributed mining pool setup enhances blockchain security by preventing centralization. When one pool dominates too much hash power (like Binance Pool currently does on BSV), it raises concerns about potential 51% attack risks — though no such activity has been reported.
Q: Can users mine BSV on other major platforms?
A: Yes, several large pools support BSV mining, including Huobi Pool, ViaBTC, SVPool, and TAAL. However, Binance Pool’s recent lead highlights its expanding role across multiple blockchains.
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Conclusion: A Strategic Move or Passive Participation?
Binance Pool’s emergence as the top miner on the BSV blockchain is more than just a statistical anomaly — it reflects evolving dynamics in the world of decentralized networks. Whether this signals a soft re-engagement with BSV or simply opportunistic use of available infrastructure by third-party miners remains unclear.
What is certain is that infrastructure shapes influence. By allowing access to its mining pool, Binance retains indirect leverage over one of the most debated blockchains in crypto history — without having to take a definitive public stance.
As the ecosystem continues to evolve, observers should watch not only hash rate distribution but also policy shifts from major exchanges. The intersection of technology, ideology, and economics in blockchain networks ensures that every block mined tells a deeper story.
For now, all eyes remain on Binance — and what its next move might be in the ongoing saga of Bitcoin SV.