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F2pool to End Ethereum Mining After the Merge Takes Place

Rahul Nambiampurath - BeInCrypto
2022-09-07 06:59
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Mining pool f2pool has announced that it will end ethereum mining after the Merge happens. Other mining pools are also taking steps in preparation for the change.
Mining pool f2pool has offered an update on when ethereum mining will end its ETH pool. It announced on Sept. 7 that the pool will run until ETH mining ends, which is between Sept. 10 and 20. ETH miners on f2pool will receive their ETH balance following the completion of the Merge.
Check out our announcement regarding #ETHMerge
f2pool (@f2pool_official) September 7, 2022
F2pool has acknowledged the arrival of proof-of-stake to Ethereum, but it has also noted the important role that miners have served over the years. It said of the transition to staking,
“Whether to support the Ether fork or not is no longer important. We will let the miner community decide. However, we acknowledge that the era of ETH PoW is at its end and let us move on to the new Era of PoS.”
The Merge is one of the biggest changes that Ethereum has experienced, and it is highly anticipated among many insiders and crypto enthusiasts. As such, many companies are preparing for the transition.

Mining companies making decisions about future

Meanwhile, other mining pools are also taking steps in the lead-up to the Merge. However, the decisions they have to make are tough given that they must rearrange resources.
For example, Hive Blockchain Technologies is looking to optimize 6.5 Terahashes of ETH mining capacity. It may look to mine ETC and ETHPoW instead. Meanwhile, Hut8 will look to focus on machine learning, artificial intelligence, and providing other services.
Crypto platforms are also taking precautions for the Merge. Aave, for instance, has limited ETH borrowing to prevent issues for liquidators.

Ethereum miners are considering other crypto assets

Ethereum switching to proof-of-stake means that the miners have to make decisions about where to spend their resources. It appears that most miners will turn to mining other crypto assets, which in turn is going to raise the difficulty of those coins and reduce profitability.
As for what assets they might mine, Bitcoin, Ethereum Classic, Litecoin, and Bitcoin Cash seem like the likely picks. However, Monero, Zcash, and Ravencoin are also available options.
The post F2pool to End Ethereum Mining After the Merge Takes Place appeared first on BeInCrypto.
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