A sad day for Proof-Of-Work mining
Truly a sad day
Since the conception of the SmartPool, it has been our goal to provide a decentralized mining platform for miners alike to be able to contribute and participate in the novel technology of SmartPooling.
As many know the SmartPool requires significant development and infrastructure. While building value for the end user, the infrastructure required for the SmartPool has been significantly higher than the mining fees generated. Following the Ethereum merge this problem has been compounded by the larger pools dominating the hashrate on Ergo. While we have attempted to take steps to reduce the infrastructure, hosting the mining pool is not profitable and in fact a complete loss.
Unfortunately, GetBlok.io will be shutting down the SmartPool until further notice. It was a very difficult decision made by the team and is truly a sad day for proof-of-work mining.
What is next?
We will be shutting down the stratums on December 11.
All minimum payment thresholds will be set to 0, so no miner funds or balances are left behind. Additionally, we will ensure that all back payments are processed before shutting down the dashboard.
All tokens that are within the emissions contract will be returned to the various projects once all payouts to miners are completed.
The future of the SmartPool as it stands now is unknown. The team will re-evaluate in the future under different economic conditions.
We are sincerely grateful for all the community members that have contributed to the SmartPool. We truly appreciate all of the support to date. This is bye for now, but be sure keep an eye out for what’s to come in the future.
Questions? Suggestions? Ideas? Let us know as a comment below!