The end of an era, the beginning of another. Ethereum miners are finding new ways to stay relevant ahead of the merge. The world's largest Ether mining pool has unveiled a new staking pool for users.
The new service, offered via Bitfly, enables Ethermine members to collectively stake their ETH and earn interest on top of their deposits. As little as 0.1 ETH, or $159 at the time of writing, is required to enter.
However, the smaller the holding, the greater the fee. The platform is currently offering stakers an annual ETH interest rate of 4.43%. At the time of writing, 393 ETH, worth roughly $626,000 at current prices, has been invested into Ethermine’s new pool. Staking pools such as these hold significance, as they offer competitive interest rates and lower barriers of entry than solo staking as node operators, which requires at least 32 ETH, or around $51,000, to operate a node. In comparison to Ethermine’s interest rate, staking via the Ethpool on Bitfly as a node operator garners an annual interest rate of 4.6%. The switch to offer to stake is something of a pivot for Ethermine which currently operates as a multi-currency mining pool, allowing users to mine ETH, Zcash (
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