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On OCT. 12, 2021, 2miners.com tweeted that ETH miners would now receive payments in either NANO, BTC, or ETH tokens. As per the tweet, BTC payments will incur almost zero fees, while NANO payments are free. These options would allow ETH miners to evade the ever-rising gas fees. As a result, thousands of miners are supporting the decision. Since the zero fees mining pool launch, about 7.5K miners have signed up.
2Miners ETH Pool Fees Options
2Miners recently announced they had found a way to make ETH mining a little less costly. The platform explained that the new payment options would save their miners from the spiking ETH gas fees. As per its recent blog, the new payment method will also allow ETH miners to mine BTC on their GPUs.
The report also said that it is possible to receive ETH mining payments without worrying about insane fees. However, for miners to enjoy this service, they have to accept payment with NANO tokens. Additionally, once miners receive their gains in NANO, they can exchange it for any other crypto. As a result, they will have even more ETH as their mining rewards. Read on to learn about how free ETH mining is working in the 2Miners ETH pool.
Miners Learn How to Evade Gas Costs
As per 2Miners, the new payout method is working flawlessly. According to the pool’s developers, once miners reach their ETH thresholds, their systems automatically exchange it for NANO. 2Miners also added that they are using leading exchanges like Binance and Kraken to facilitate this process.
The mining pool also said that this process is transparent and uses NANO, BTC, and ETH tokens’ live market values. Such transparency also continues in the payout process, where miners will be receiving their rewards once a day at noon UTC.
Due to the improvements in the efficiency of the new payment system, the number of ETH Miners registering for NANO payments is increasing.
ETH Gas Fees Spike Continues
The gas fees in the ETH network have been spiking for a considerable amount of time. As a result, the costs for miners to receive their remuneration are also spiking. For example, if a miner has one GPU, they are paid three dollars per day, but to receive their monthly payout of $90, they have to pay $7.5. Such a fee is not only too high but also discouraging.
As a remedy, ETH announced the rollout of the London Upgrade in the Q3 of 2021. However, this upgrade only made matters worse since whenever transactions are in line, the base gas fees rise exponentially. Therefore, it is evident that the 2miners ETH pool solution is encouraging its miners’ work.
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