Luxor launches Ethereum mining pool

The American mining company Luxor Technology announced the launch of a mining pool aimed at mining the second-largest cryptocurrency by market capitalization.

Luxor’s Ethereum mining pool is now open to the public! ♦️

Our new pool is optimized for MEV, a low uncle rate, and allows miners to receive their payouts in #Bitcoin

Are you an ETH miner in North America (or elsewhere)? Hit us up 🤝https://t.co/INnyyRhQpd

— Luxor Mining (@LuxorTechTeam) January 24, 2022

«We are closely monitoring the development of ETH 2.0, and we are launching the pool even now because we believe there is a high likelihood that this year Ethereum’s transition to Proof-of-Stake will not take place», — said in an interview CoinDesk co-founder Luxor Mining Ethan Vera.

Miners can extract Miner Extractable Value. The pool is optimized for detecting uncle blocks and is compatible with the Catalyst service — it allows payouts in Bitcoin.

Luxor has also begun assembling a consortium to keep Ethereum on Proof-of-Work. The company regards the algorithm as the best way to ensure network security, decentralisation and incentivise the transition to cleaner energy.

«We believe that Proof-of-Work is the most reliable and proven mechanism for public blockchains, including Ethereum», — said Vera.

According to the press release, Luxor Technology works with major institutional miners, including Hut 8, and several retail players in the North American market.

In May 2021, developer Karl Bihzeisen predicted that after Ethereum’s shift away from Proof-of-Work, electricity costs to maintain the network could be reduced by as much as 2,000 times.

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