Ethereum's Biggest Mining Pool to Stop Offering Services for the Network

Ethermine will make the move once the Merge is completed, which is expected to occur on Thursday.

AccessTimeIconSep 14, 2022 at 12:39 p.m. UTC
Updated Sep 14, 2022 at 1:58 p.m. UTC

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Ethermine, the world's largest Ethereum mining pool, will stop offering proof-of-work (PoW) services after the Ethereum network switches to proof-of-stake (PoS) and won't be following up with services for the planned PoW forks.

The Ethereum network is set to switch its consensus algorithm sometime on Thursday, which will eliminate the need for miners. Some in the community were proposing that the network forks to continue using the PoW method of validating transactions. Ethermine, however, decided not to "offer a dedicated mining pool for any of the planned Ethereum PoW forks," the pool said in a Wednesday post.

Once the switch happens, PoW mining won't be possible on Ethermine, as "all Ethermine stratum servers will be shut down" and the pool will switch to withdraw-only mode, the pool said.

Ethermine users can use other affiliated servers to mine ethereum classic, an older PoW token. Users will also be able to mine ravencoin (RVN), ergo (ERGO) and beam (BEAM).

Ethermine is the world's largest mining pool for the Ethereum blockchain, according to Mining Pool Stats.



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Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

CoinDesk - Unknown

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.