The world’s largest Ethereum mining pool abandons Ether PoW mining, and Ethermine begins the countdown to merge

Ethermine, the world’s largest Ethereum mining pool, has announced that the organization plans to abandon proof-of-work (PoW) Ethereum mining entirely. Ethermine said the platform’s miner dashboard will display a countdown, and users can continue mining ether until the countdown reaches zero.

Largest Ethereum Pool to End PoW Ethereum Mining – Ethermine Ethereum Pool Will Switch to Withdrawal-Only Mode After Merger

According to a recent announcement from Ethermine, the world’s largest Ethereum mining pool, the platform plans to stop ETH mining immediately after The Merge occurs. Currently, the Ethereum network will transition from a PoW network to a Proof of Stake (PoS) network around September 15, 2022. For the past few weeks, it has been a combination of guessing games as to where Ethereum miners are going.

Ethermine is the largest Ethereum mining pool in the world with 262.79 terahash per second (TH/s) dedicated to the Ethereum chain. According to today’s mining pool statistics, this pool has a much larger hash rate compared to F2pool, the second largest Ethereum mining pool, as F2pool commands 127.48 TH/s.

The world's largest Ethereum mining pool abandons Ether PoW mining, and Ethermine begins the countdown to merge
Top 5 Ethereum mining pools on August 21, 2022. While Ethermine is the largest ETH mining pool, it is the second largest Ethereum Classic (ETC) mining pool as F2pool is the largest ETC mining pool today.

“Ethereum’s mining phase will end on September 15, 2022. After this date, it will no longer be possible to mine Ether on the Ethereum network using graphics cards (GPUs) or ASICs,” Ethermine detailed. “As a result of this transition, the Ethermine Ethereum pool will switch to a withdrawal-only mode once the proof-of-work mining phase is over.” The blog post added:

An accurate countdown timer will be available on the miner dashboard. You can keep mining ether until the countdown reaches zero.

Ethermine Disclosure Follows Ethereum Classic’s Hash Rate Surge

Ethermine’s announcement follows a proposal to create a version of Ethereum’s proof-of-work called ETHW. While many exchanges have listed ETHW, the IOU token has plunged 63% from a high of $139.62 per unit to $50.68 per unit today. The chain has not yet forked, so there is no approximate way to determine how much hash rate will support the proposed ETHW chain.

The world's largest Ethereum mining pool abandons Ether PoW mining, and Ethermine begins the countdown to merge
Ethermine said it would not support the proposed Ethereum PoW fork or “any planned PoW fork.”

Additionally, the Ethereum Classic (ETC) network has seen a massive increase in hashrate over the past four days, climbing 39% since August 17. ETC’s hashrate hit an all-time high on August 20, 2022, exceeding 38 terahertz per second (TH/sec). Other Ethash-centric tokens, such as RVN, ERGO, and BEAM, did not see the hashrate growth of ETC recorded this weekend.

tags in this story

Liang, Countdown, Ergo, ETC, ETH Mining, Ethereum, Ethereum (ETH), Ethereum Classic, Ethermine, ethermine.org, Ethermine Disclosure, ETHW, Hash Rate, Hash Rate Peak, Mining, Mining Ethereum , mining pool, mining pool, PoW ETH , RVN, the world’s largest ETH mining pool

What do you think of Ethermine, the world’s largest Ethereum mining pool, ending Ethereum mining? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News for Bitcoin.com News and a fintech reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,700 articles for Bitcoin.com News on the disruptive protocols emerging today.




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