World’s largest ethereum mining pool, Ethermine, announced plans to drop Ethereum Proof-of-Work (PoW) mining completely upon the most anticipated Merge event.
As per the announcement, on September 15, 2022, Ethereum’s mining phase will come to a conclusion. According to Tim Beiko, the Ethereum core developer, the tentative date for Ethereum Merge is September 15.
Post Merge, it will no longer be possible to mine Ether on the Ethereum Network using Graphic Cards (GPUs) or ASICs.
The platform will still support the mining of Ethereum Classic (ETC), Ravencoin (RVN), Ergo (ERGO), and Beam (BEAM), even if Ethermine will no longer permit Ether to be mined via the PoW method.
Additionally, the team will run a 0% fee promotion for Ethereum Classic, Ravencoin, Ergo, and Beam mining pools throughout the month of September.
The Ethermine Ethereum mining pool will change to withdrawal-only mode upon the Proof-of-Stake (PoS) transition, after the PoW mining phase ends.
On the miner dashboard, there will be a precise countdown clock and the community can keep mining Ether up until the timer reaches zero.
Users can initiate a manual payout on their Dashboard page to receive a final settlement of their unpaid balance.
If the users have more than 0.005 ETH or more in unpaid balance, they can request for a manual payout. The transaction fee will be subtracted from their unpaid balance for manual payouts.
Also Read: Ethereum Merge Mainnet Readiness Checklist is All Checked
