Ethermine Pool Stops ETH Mining Before Ethereum Merge

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One of the largest Ethereum mining poolsEthermine announced that it will stop mining ETH using the Proof-of-Work (PoW) algorithm. On September 15, after the Ethereum merger, the pool will switch to ETH withdrawal mode.

The press release states that the countdown timercountdown will be available on the control panel. Users will be able to continue mining ether until the countdown reaches zero. To receive the remaining ETH, miners will need to initiate a payout from the dashboard on their page.

Ethermine said that customers will be able torequest a payout if their balance exceeds 0.005 ETH. In this case, the transaction fee will be deducted from the user's outstanding balance. The pool emphasized that it will not support the proposed EtherPoW fork or “any planned PoW fork.”

“ETH mining phase will end on September 15th2022. After this date, it will no longer be possible to mine ether on the Ethereum network using graphics cards (GPUs) or ASICs. Once the Proof-of-Work mining phase is completed, the Ethermine pool will switch to ETH withdrawal mode,” the press release states.

Recently, the American cryptocurrency exchange Coinbase announced that it will temporarily suspend deposits and withdrawals of ETH and ERC-20 tokens during the transition of Ethereum to the Proof-of-Stake (PoS) algorithm.