Ethereum's Biggest Mining Pool to Stop Offering Services for the Network
Ethermine, the world's largest Ethereum mining pool, will stop offering proof-of-work (PoW) services after the network's switch to proof-of-stake (PoS) but will not be following up with services for the planned PoW forks.
The Ethereum network is set to switch its consensus algorithm sometime tomorrow, which will eliminate the need for miners. Some in the community were proposing that the network forks to continue using PoW consensus. However, Ethermine decided not to "offer a dedicated mining pool for any of the planned Ethereum PoW forks," the pool said in a Wednesday post.
Once the switch happens, PoW mining will not be possible on Ethermine, "all Ethermine stratum servers will be shut down" and the pool will switch to withdraw-only mode, the pool said.
Ethermine users can use other affiliated servers to mine Ethereum Classic, an older PoW token of the token, Ravencoin (RVN), Ergo (ERGO) and Beam (BEAM).
Ethermine is the world's largest mining pool for Ethereum according to information platform Mining Pool Stats.