The world’s largest Ethereum mining pool, Ethermine, has announced that it will fully discontinue Ethereum proof-of-work (PoW) mining operations. The platform confirmed that its miner dashboard will display a countdown timer, allowing users to continue Ether mining until the timer reaches zero.
Ethermine Shifts to Withdrawal-Only Mode Post-Merge
Ethermine, the leading Ethereum mining pool, recently confirmed its plan to cease ETH mining immediately after The Merge occurs. The Ethereum network is scheduled to transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism around September 15, 2022. This shift marks the end of an era for GPU and ASIC miners who have long supported the network.
With a dedicated hash rate of 262.79 terahashes per second (TH/s), Ethermine dominates the Ethereum mining landscape. For comparison, the second-largest pool, F2pool, trails significantly with 127.48 TH/s. The decision by such a major player to step away from PoW mining underscores the profound impact of Ethereum’s upcoming upgrade.
Countdown to the End of Ethereum Mining
In an official statement, Ethermine clarified:
“Ethereum’s mining phase will conclude 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. As a result of this transition, the Ethermine Ethereum pool will switch to withdrawal-only mode once the proof-of-work mining phase ends.”
The platform will provide miners with a real-time countdown, enabling them to manage their activities until the very last moment. Miners are advised to plan accordingly and consider alternative options for their hardware.
Market Response and Alternative Mining Options
Ethermine’s announcement follows a noticeable surge in interest toward alternative PoW networks. Notably, Ethereum Classic (ETC) experienced a 39% increase in its network hash rate over a four-day period in mid-August, reaching a record high of over 38 TH/s on August 20, 2022.
Other Ethash-based cryptocurrencies like Ravencoin (RVN), Ergo (ERGO), and Beam (BEAM) did not see comparable hash rate growth during the same period. This suggests that many Ether miners are leaning toward ETC as a potential alternative.
Meanwhile, a proposed proof-of-work version of Ethereum, referred to as ETHW, has drawn attention from some exchanges. However, its IOU tokens have fallen dramatically from a high of $139.62 to around $50.68—a decline of over 63%. Since the chain has not yet forked, it remains unclear how much hash rate will ultimately support ETHW.
Frequently Asked Questions
What happens to my mined ETH after The Merge?
Your mined Ether remains intact and accessible in your wallet. After The Merge, you will no longer earn block rewards through mining, but existing balances are unaffected.
Can I use my GPU miners for other cryptocurrencies?
Yes. Many miners are transitioning to other PoW coins such as Ethereum Classic, Ravencoin, or Ergo. Each offers different profitability levels and hardware compatibility.
What is withdrawal-only mode in Ethermine?
After The Merge, Ethermine will allow users to withdraw their mined earnings but will no longer support new mining activities on the Ethereum network.
Will Ethereum mining ever return?
Ethereum’s shift to proof-of-stake is permanent. While forks like ETHW may continue PoW, the original Ethereum chain will fully adopt staking.
How can I stay updated on mining alternatives?
You can monitor hash rate trends and mining profitability on various platforms. 👉 Explore mining transition strategies for more guidance.
Is it still profitable to mine Ethereum before The Merge?
Profitability depends on electricity costs, hardware efficiency, and Ether’s market price. With the countdown underway, miners should calculate risk carefully.
Conclusion
Ethermine’s exit from Ethereum PoW mining symbolizes a broader industry shift as The Merge approaches. While some miners may migrate to Ethereum Classic or other networks, others might repurpose their hardware or leave mining altogether. The transition represents a significant moment in blockchain history, closing one chapter while opening another focused on sustainability and scalability.
For those evaluating next steps, staying informed and adaptable is key. 👉 View real-time mining updates to help navigate the changing landscape.