Open-pit mining and reclamation damage the land, resulting in unknown and significant changes to the regional ecology and ecosystem services. Surface mining restoration procedures necessitate a significant amount of money, typically at an unclear cost. Due to temporal and regional variability, few studies have focused on the cumulative impacts of mining activities. To investigate the ecological cumulative effects (ECE) of past mining and reclamation activities, this study continuously tracked land cover changes spatially and temporally based on phenological indices and focuses on the spatial and temporal evolution of past mining and reclamation areas using the LandTrendr algorithm. The cumulative trends of ecosystem services in the Pingshuo mining area from 1986 to 2021 were revealed using a uniform standard value equivalent coefficient. Meanwhile, the cumulative ecological effects due to essential ecosystem service functions were analyzed, including soil formation and protection, water containment, biodiversity maintenance, climate regulation, and food production. The synergistic effects and trade-offs among the functions were also explored using Spearman’s correlation coefficient. The results showed that (1) open-pit mining resulted in 93.51 km2 of natural land, 39.60 km2 of disturbed land, and 44.58 km2 of reclaimed land in the Pingshuo mine; (2) open-pit mining in the mine mainly resulted in the loss of 122.18 km2 (80.91%) of native grassland, but, through reclamation into grassland (31.30 km2), cropland (72.95 km2), and forest land (10.62 km2), the damaged area caused by mining only slightly increased; (3) the cumulative ecological value of the mining area declined by 128.78 million RMB; however, the real cumulative value per unit area was lower in the disturbance area (1483.47 million RMB) and the reclamation area (1297.00 million RMB) than in the natural area (2120.98 million RMB); (4) the cumulative value of the food production function in the study area increased, although the values of all individual functions in the study area decreased. Most of the cumulative values of services had a strong synergistic relationship. However, in the natural area, food production (FP) showed a trade-off relationship with the cumulative value of biodiversity maintenance (BM), soil formation and protection (SP), and water conservation (WC) service functions, respectively. This study constructed a methodology for analyzing mining-impacted ecosystem services using time-series processes, reproducing historically complete information for policymakers and environmental regulators.