Mining pool f2pool recently indicated that it would stop mining Ethereum after the Merge. Many mining pools are also preparing for the transition. Mining pool f2pool has updated when ETH mining would cease in its pool. It declared on September 7 that the pool would remain operational until the conclusion of ETH mining, which is expected to be between September 10 and September 20. Following the conclusion of the Merge, ETH miners on f2pool will still get their ETH balance.
🗼 Only 1 step towards #TheMerge 🗼
💪Mine your next coin with f2pool 🐠 pic.twitter.com/riMDG5Lxnz
— f2pool 🐟 (@f2pool_official) September 7, 2022
F2pool recognised the introduction of proof-of-stake to Ethereum, while it also emphasised the critical role that miners have played throughout the years. It said of the shift to staking,
The Merge is one of the most significant shifts that Ethereum has seen, and many experts and cryptocurrency fans eagerly await it. As a result, many businesses are planning for the shift.
Mining businesses making future choices
Meanwhile, many mining pools are making preparations for the Merge. However, given the need to reallocate resources, the choices they must make are difficult.
Hive Blockchain Technologies, for example, is attempting to optimise 6.5 Terahashes of ETH mining capacity. Instead, it may seek to mine ETHPoW, ETC. Meanwhile, Hut8 plans to concentrate on artificial intelligence, machine learning, and other services.
In addition, cryptocurrency exchange platforms are getting ready for the next Merge. For example, Aave has put borrowing limits on ETH to protect liquidators from issues. Cryptocurrency miners are looking beyond Ethereum. When Ethereum makes the transition to proof-of-stake, miners will have to make strategic decisions about how to deploy their computing power.
Most miners seem to be shifting to mining other crypto’s, increasing the difficulty of such coins and lowering profitability. Ethereum Classic, Bitcoin, Bitcoin Cash and Litecoin seem to be the most probable assets to be mined. However, Zcash, Monero, and Ravencoin also are viable alternatives.