{"id":4107,"date":"2022-08-30T16:24:23","date_gmt":"2022-08-30T16:24:23","guid":{"rendered":"https:\/\/2miners.com\/blog\/?p=4107"},"modified":"2022-09-03T11:13:50","modified_gmt":"2022-09-03T11:13:50","slug":"end-of-the-ethereum-mining-when-what-to-mine-next-with-gpu-transition-to-pos-explained","status":"publish","type":"post","link":"https:\/\/2miners.com\/blog\/end-of-the-ethereum-mining-when-what-to-mine-next-with-gpu-transition-to-pos-explained\/","title":{"rendered":"End of the Ethereum Mining: When? What to Mine Next with GPU? Transition to POS Explained"},"content":{"rendered":"

Ethereum consensus switch from Proof-of-Work (POW) to Proof-of-Stake (POS) is expected in the middle of September. This event is also known as Merge. When this happens Ethereum mining ends and you could not mine any ETH with GPU or ASIC. Let’s have a detailed look at Merge and how the 2Miners Ethereum pool will operate in September.<\/p>\n

<\/p>\n

\"ethereum-pos-2\"<\/p>\n

When Ethereum Mining Ends<\/h2>\n

Ethereum developers have defined the condition for the POW to POS switch. They operate with the parameter known as Total Terminal Difficulty (TTD) of the Ethereum network. TTD calculation is quite complicated<\/a>. In simple words, it is a counter (a variable) that grows with every new block found in the Ethereum network.<\/p>\n

\"wen_merge_mainnet_2\"<\/p>\n

Wen Merge?<\/a> is an awesome website with the Merge counter. You could always check the current Total Difficulty (TTD) there.<\/p>\n

Current TTD is 57 569 366 816 331 680 186 368
\nMerge happens when TTD reaches 58 750 000 000 000 000 000 000
\nThis happens roughly on September 14th.<\/p><\/blockquote>\n

Is this date accurate?
\nYes, this date is quite accurate. Some minor changes could be seen if the Ethereum hashrate changes severely. We don’t think this could happen in the nearest two weeks.<\/p>\n

Are there any factors that may alter the transition to the POS date?
\nYes, Ethereum developers could postpone the Merge to a higher TTD. This is an extremely unlikely event though.<\/p>\n

How the Merge Happens<\/h2>\n

We’ve heard a lot of rumors that ETH mining would be still possible after the Merge just the mining difficulty would increase because of the difficulty bomb etc. That is not true. When Merge happens the Ethereum network will no longer accept POW-mined blocks. So the mining just dies.<\/p>\n

Ethereum (ETH) mining stops in the middle of September (approximately on September 14th). No more ETH mining would be possible.<\/strong><\/p>\n

How Will 2Miners ETH Pool Operate<\/h2>\n

At that particular moment when the Ethereum TTD reaches the preset value of 58 750 000 000 000 000 000 000 the pool can no longer find a new ETH block and get rewarded. The date and time of the Merge event is not precise therefore we will operate until the Merge happens.<\/p>\n

\"eth_mining_hashrate\"<\/p>\n

We are grateful to have such an awesome ETH mining pool and mining community that we have. More than 100K miners are mining Ethereum in 2Miners. We would like to say BIG THANKS!<\/strong> to all our miners. No flattering, we always stand for our miners, you guys rock! In this sad moment, we would fight to the last mined block.<\/p>\n

When the Merge happens the pool will still accept shares for a short period of time. Obviously, no rewards after the Merge event could be credited. We would like to switch you automatically to ETC<\/a> (Ethereum Classic) mining pool. However, that is impossible because ETC uses a modified version of the Ethash mining algorithm called Etchash. You will need to reconfigure your software in order to do that. <\/p>\n

2Miners Ethereum Pool Payouts<\/h2>\n

The payouts would be processed in the standard way until the Merge.<\/p>\n

The payouts to the ETH addresses are processed every 2 hours (usually much faster if there is no long queue). The payouts to the BTC and NANO addresses are processed once a day at 12:00 UTC.<\/p><\/blockquote>\n

After the Merge, we will process one last payout to all the Ethereum pool users. It should happen in a couple of hours after Merge. It could be slightly delayed due to possible network issues. ETH was never operated using the POS consensus before. Anything could happen. A lot of cryptocurrency exchanges may suspend ETH deposits and withdrawals for the time of Merge. We use Kraken and Binance to process the payouts in BTC or NANO. Please note that the last BTC\/NANO payout may be delayed until one of these crypto exchanges resumes operations with Ethereum.<\/p>\n

You don’t need to request the final payout or claim it anyhow. You don’t need to change your payout threshold too if it was too high. We will pay all the unpaid balances that are over the minimum Ethereum pool payout threshold.<\/p>\n