Ethermine, Ethereum’s (ETH) Largest Mining Pool, Won’t Support PoW Fork Post Merge

As the highly-anticipated Ethereum mainnet merge approaches, Ethermine, the largest ETH mining pool, has announced that it has no plans to offer a dedicated mining pool for the planned fork to create a new proof-of-work (PoW) Ethereum chain.

Ethermine Won’t Support PoW Fork

Ethermine’s decision not to support the proposed PoW chain after the merge comes weeks after Ethereum’s second largest mining pool, f2pool, said that the era of ETH PoW has come to an end.

The mining pool made the announcement on Thursday, August 18, after careful consideration. According to Ethermine, it will support the proof-of-stake transition, which has been one of the core items of the Ethereum project.

Ethermine adds that the mining phase of ETH will come to an end on September 15. The mining pool says it will “switch to withdraw-only mode once the Proof-of-Work mining phase has ended.”

Countdown to the Merge

Ethermine, which contributes 30.8% of Ethereum’s mining power, has said that a countdown timer will be available on the miner dashboard. When it elapses, miners can no longer connect their mining equipment to the Ethermine Ethereum pool.

However, the mining pools say for a month after the merge, they will offer a 0% fee for miners switching from ETH to other coins, including Ethereum Classic (ETC) and Ravencoin (RVN).

On the Flipside

  • Even before the Ethereum merge, Justin Sun’s exchange, Poloniex, opened trading for “potential forked” Ethereum (ETH) tokens ETHW and ETHS.

Why You Should Care

The lack of support from the top Ethereum mining pool considerably reduces the chances that the PoW of the ETH network will be sustainable.

Find out how investors anticipate the merge in:
Ethereum Merge Attracts Institutional Investors, Reveals CoinShares Report

Read about Justin Sun’s support for ETH PoW tokens below:
Justin Sun Starts Trading Ethereum Potential Hard Fork Tokens Earlier Than Scheduled

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).