The F2pool mining team has given an update on when to stop mining Ethereum. The unit announced on September 7 that the group would operate until The Merge was completed from September 10 to 20. ETH miners on F2pool will receive their ETH balance after the above event.
🗼 Only 1 step towards #TheMerge 🗼
💪Mine your next coin with f2pool 🐠 pic.twitter.com/riMDG5Lxnz
— f2pool 🐟 (@f2pool_official) September 7, 2022
F2pool has noted the important role of miners over the years. It talks about the transition to staking:
“It doesn’t matter whether or not the Ether fork is supported. We will let the miner community decide. However, we acknowledge that the era of ETH PoW is over and we should move on to the new PoS Era.”
The Merge is one of the biggest changes Ethereum has undergone and it is expected by crypto enthusiasts. As a result, many companies are preparing for the transition.
Other mining teams are also making changes ahead of The Merge event. However, the decisions they have to make are difficult because they have to realign resources.
For example, Hive Blockchain Technologies is looking to optimize 6.5 Terahas of ETH mining capabilities. Instead, it can search for ETC and ETHPoW. Meanwhile, Hut8 will focus on research on machines, artificial intelligence, and providing other services.
Cryptocurrency platforms are also taking precautions for The Merge. For example, Aave has limited eth borrowing to prevent problems for liquidators.
Ethereum’s move to PoS means miners have to make decisions about where to use their resources. It seems that most miners will turn to mining other crypto assets, which will increase the difficulty of those coins and reduce profits.
As for the assets that they can mine, Bitcoin, Ethereum Classic, Litecoin, and Bitcoin Cash seem like the most optimal options. However, Monero, Zcash, and Ravencoin are also available options.