Ethermine, one of the largest Ethereum mining pools operated by Bitfly, has announced the official end of Ethereum's Proof-of-Work (PoW) mining era. Here's what you need to know:
Key Announcements from Bitfly
ETH Mining Pool Closure:
- The Ethereum PoW mining phase will conclude on September 15.
- After this date, mining ETH via GPU or ASIC hardware will no longer be possible.
Withdrawal-Only Mode Activation:
- Ethermine's Ethereum pool will switch to withdrawal-only mode post-merge.
- A countdown timer will be displayed on miner dashboards until the final block.
No Support for ETH PoW Forks:
- Bitfly confirmed it won't provide dedicated pools for any planned PoW fork coins.
- This decision follows careful evaluation of network stability and miner interests.
Continued Support for Other Coins:
Ethermine will maintain mining pools for:
- Ethereum Classic (ETC)
- Ravencoin (RVN)
- Ergo (ERG)
- Beam (BEAM)
Understanding the Ethereum Merge Timeline
The shutdown coincides with Ethereum's transition to Proof-of-Stake (PooS) via The Merge. Network consensus suggests the Terminal Total Difficulty (TTD) trigger will occur around September 15.
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Miner Transition Strategies
For affected miners, consider these alternatives:
| Option | Pros | Cons |
|---|---|---|
| ETC Mining | Established network | Lower profitability |
| RVN Mining | ASIC-resistant | Smaller ecosystem |
| Erg Mining | Innovative features | Limited exchange support |
| Hardware Resale | Recover capital | Depressed market prices |
Frequently Asked Questions
Why is Ethermine closing its ETH pool?
Ethereum's transition to Proof-of-Stake eliminates mining entirely, making ETH pools obsolete.
What happens to my unpaid mining rewards?
All balances remain accessible through withdrawal mode until Bitfly announces a cutoff date.
Are there profitable alternatives to ETH mining?
Profitability depends on hardware type. ASIC miners may adapt better to ETC, while GPUs could mine RVN or ERG.
Will Ethermine support ETHW or other forks?
No. Bitfly has explicitly stated it won't provide infrastructure for any Ethereum forks.
How long can I continue mining ETH?
Until the network reaches Terminal Total Difficulty, currently projected for September 15.
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The Bigger Picture
This announcement marks a pivotal moment in crypto history:
- Ends Ethereum's 7-year PoW era
- Accelerates the shift toward sustainable blockchain consensus
- Forces GPU/ASIC miners to adapt or exit
While some mining operations may attempt to continue via forks, major pool operators like Ethermine are taking a conservative approach due to concerns about chain stability and economic viability.
The crypto mining landscape continues evolving rapidly. Stay informed through trusted sources and carefully evaluate all transition options for your specific setup.