ETH Miner Pool To Stop Activity Ahead Of Ethereum Merge

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Ethermine, the world's largest Ethereum (ETH) mining pool, announced the organization's plans to stop mining proof of work (PoW) ETH completely ahead of the merge.

The platform says the Ethermine site will display a countdown and users can continue mining ETH until the count reaches zero. Ethermine will stop mining ETH after the merge occurs.

The Ethereum network will transition from PoW to proof of stake (PoS) on September 15, 2022. The fate of ETH miners after the merge is unknown.

Ethermine is the world's largest ETH mining pool with a power of 262.79 terahashes per second (TH/S) dedicated to the Ethereum blockchain.

This pool has a much larger hashrate than the second largest mining pool, F2pool. F2pool has a power of 127.48 TH/s according to current mining statistics, reported by News.Bitcoin.com.

Ethermine is the largest pool for ETH, but the second largest for Ethereum Classic (ETC). The largest mining pool for ETC is held by F2pool.

“The ETH mining phase will end on September 15, 2022. After this date, ETH can no longer be mined on the Ethereum network using a graphics card (GPU) or mining engine (ASIC),” explained Ethermine.

The company added that as a result of the merge transition, Ethermine will switch to withdrawal mode once the PoW mining phase is over.

ETH Miners Will Quit

Ethermine's announcement follows a proposal to create a PoW version of ETH called ETHW. Although a number of crypto exchanges have traded ETHW, the token has fallen 63 percent from its current price of $139.62 to $50.68.

Ethereum Chain has not yet forked, so it is unknown how many hashrates the ETHW chain will support as per the proposal. Ethermine said it will not support the ETHW fork or any other fork.

Over the past four days, the Ethereum Classic network received a massive increase in hashrate, which was 39 percent higher than last August 17.

The Ethereum Classic hashrate hit an all-time high on August 20, surpassing 38 TH/s. Other Ethash tokens such as RVN, ERGO and BEAM did not experience increases in hashrate as ETC experienced last weekend.

The tokens are crypto assets that can be mined through Ethermine. During September, Ethermine waived mining fees for these crypto assets.

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