Breaking: 2nd-Largest Mining Pool To Terminate ETH Mining, Favors Ethereum Classic (ETC)

CoingapePublished on 2022-09-07Last updated on 2022-09-07

Abstract

Ethereum’s 2nd-largest mining pool F2Pool on Wednesday said it will terminate ETH mining between September 10-20 as Ethereum switches to proof-of-stake (PoS) after the Merge.

Ethereum’s 2nd-largest mining pool F2Pool on Wednesday said it will terminate ETH mining between September 10-20 as Ethereum switches to proof-of-stake (PoS) after the Merge. All ETH rewards during the period will be paid after the Merge. Moreover, F2Pool invites miners to use its pool to mine ETC, RVN, CFX, and other coins after the Merge. Miners can enjoy zero commission fees on Ethereum Classic (ETC) mining until September 30.
F2Pool Switches To ETC Mining After the Merge
F2Pool is the 2nd largest ETH mining pool and the top ETC mining pool. After the Merge, the mining pool will fully support ETC mining as Ethereum will switch from PoW to PoS, F2Pool announced on September 7.
The Merge is estimated to happen between September 10-20, as per Ethereum Foundation. F2Pool will continue to run normally until the termination of ETH mining with the Merge. According to Ethereum co-founder Vitalik Buterin, the Merge is most likely to happen between September 13-15.
“Only 1 step towards the Merge, Our ETH pool will be available as usual until TTD triggers the end of mining. Don’t forget to double-check your wallet to receive the final payout of ETH mined!”
Moreover, F2Pool decides to pay the ETH balance to miners after the Merge to prevent any issues with the process. Miners need to confirm if they have added a valid wallet address to their account. Also, miners may set different addresses for different mining accounts.
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F2Pool invites miners to mine ETC, RVN, CFX, and other coins after the Merge. The mining pool is also offering “Zero” commission fees for ETC mining until September 30.
The support for Ethereum Classic (ETC) continues to grow as miners switch to ETC mining, and not any Ethereum hard fork. As a result, the ETC price and hash rate continue to jump higher. Top mining pools including Ethermine, BTC.com, Antpool, and others decide to support Ethereum Classic (ETC) after the Merge.
Ethereum Classic Price Can Hit $50
The community and miners’ support for Ethereum Classic (ETC) has built strong momentum in the ETC price. Also, top miners have turned down support for any Ethereum hard fork.
ETC price has rallied over 200% in the last 2 months, moving from $14 to a high of $45.51. Currently, the price is trading at $34.31, down nearly 15% in the last 24 hours due to a market-wide sell-off. However, Ethereum Classic is still showing strength and the price can hit $50 after the Merge. In fact, the Ethereum price will plummet after the Merge due to its deflationary mechanism.

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