As Binance Exits Mining, LUXXFOLIO Launches LuxxPool With Litecoin Foundation Support
On October 13, 2026, Litecoin celebrated its 15th birthday. By coincidence, that same day, Binance announced it would shut down its mining pool operations on November 10, ending more than six years of mining services.
The decision leaves miners searching for alternatives as one of the world's largest cryptocurrency exchanges exits the mining pool business.
Meanwhile, Canadian publicly traded LUXXFOLIO ($LUXX, $LUXFF) is moving in the opposite direction, announcing the public beta launch of LuxxPool, a new mining pool focused on 9 merged mined coins with Litecoin ($LTC). Including Dogecoin ($DOGE), and 8 other cryptocurrencies.
The company already operates its own fleet of Scrypt miners and is expanding its infrastructure to serve miners worldwide offering a low fee of 1% with direct payouts and conversions to USDC and others coming soon.
LuxxPool has also introduced Scrypt solo mining, allowing miners to mine Litecoin, Dogecoin, and eight additional merge-mined cryptocurrencies through a single solo mining pool. Unlike traditional pooled mining, where rewards are shared among participants, solo mining is more akin to a lottery. Miners have a chance to discover a block and claim its reward, but payouts are unpredictable and depend on luck and mining power.
With ten networks available through one pool, miners have multiple opportunities to find blocks using the same Scrypt mining power.
LuxxPool launches with support from the Litecoin Foundation and Litecoin creator Charlie Lee, who also serves as a strategic advisor to LUXXFOLIO. In a commitment to the Litecoin ecosystem, the company will contribute 5% of its mining pool fees to the Litecoin Foundation, helping support the continued development and adoption of Litecoin.
"There's a new Litecoin pool! @LuxxfolioH has just unveiled LuxxPool which is live (beta) to the public. It's the very first Scrypt mining pool to direct a portion of proceeds back to the Litecoin Foundation!"🙏 - Litecoin Foundation
The timing is remarkable. As Binance prepares to leave the mining pool industry, LUXXFOLIO is entering it, building new infrastructure around Litecoin just as the network celebrates 15 years of 100% uninterrupted runtime.
For Scrypt miners looking for a new home, LuxxPool represents another option.
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