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- Ethermine offers its members to collectively stake their ETH under a new service.
- The service will benefit the ethermine members to earn 4.43% annual interest over their ETH deposit.
Ethermine, world’s highest performing ETH mining pool, launched its staking service before the most-awaited ‘The Merge.’ But this service is not open for the U.S. miners.
Ethermine’s New ETH Staking Service
In the new service launched by Ethermine, it enables its members to collectively stake their ETH and earn the interest over their deposits. The minimum requirement to enter in this service is 0.1ETH, or $155.93, as per the current market price. Here, the smaller holdings will lead to high fees. While the platform gives its stakers an annual ETH interest rate of 4.43%.
In its new pool, around 393 ETH invested, that is worth around $612,459 at current price.
This kind of staking pools are significant, as it offers competitive interest rates and also lessens barriers for entry purpose. The solo staking like node operators, only need at least 32 ETH, or approx. $51,000, for operating a node. While comparing the Ethermine’s interest rate, Bitfly collects the annual interest rate of 4.6%, through the Ethpool staking.
At present, Ethermine allows its users to mine ETH, Zcash (ZEC), Ethereum Classic (ETC), Beam (BEAM), Ravencoin (RVN), and Ergo (ERGO).
The End of ETH PoW Mining State
According to the Ethermines website, after seven years of research and development the mining phase of ETH will end on September 15, 2022. After that, the ether mining is not possible on ETH network by using Graphics Cards (GPUs) or ASICs.
In addition,Ethermines has 221,321 active miners with a combined harsh rate of 263.5 terra harshed per second (TH/s).
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
