The B-bearing iron-based coating produced by laser cladding exhibits super-high hardness. However, the strengthening mechanism of B-bearing Cr17Ni2 coating and non-equilibrium phase transformation during the cooling stage require further investigation. The study focused on the B-bearing Cr17Ni2 coatings produced by laser cladding at four speeds ranging from 10 mm/s to 200 mm/s. The results show that the thickness of the single layer in the coatings gradually decrease as the increase of scanning speed. The secondary dendrite arms spacing and grain size also decrease with increasing scanning speed. The microstructure of the coating consists of a martensitic phase and a eutectic phase consisting of Cr2B compounds and austenite. Combined with G\\R diagram and finite element analysis, the microstructure refining mechanism of the coating has been concluded. The effect of fine grain strengthening, solid solution strengthening, precipitation strengthening, and dislocation strengthening on hardness is investigated. It has been observed that the coating hardness increases with increasing scanning speed. This change in the hardness of the coatings is mainly because of the grain and precipitate refining.