MINEXMR to Shutdown Operations

MINEXMR, the largest mining pool on privacy blockchain network Monero, has ceased operations as of August 12th, 2022. 

The pool has been in operation for over three years and has amassed a large following among miners and privacy enthusiasts alike.

This news comes as a surprise to the Monero community, as MINEXMR has been a large and influential player in the network since its launch in April 2014.

MINEXMR’s decision to shut down may be due to the recent criticism the pool has received regarding its centralization of power within the Monero network. With approximately 48% of Monero’s hashrate under its control, many have argued that MINEXMR poses a threat to the decentralization of the network. 

This news highlights the importance of decentralization in cryptocurrency networks and how centralization can pose a threat to their stability.

A notice on the MINEXMR website states:

We regret to inform our valued miners that the Minexmr mining pool has closed. We thank you for being a part of the pool and your continued support.

Please reconfigure your miners to use a different pool. We recommend transitioning to the decentralised p2pool. There are no pool fees when using p2pool and the decentralised pool helps to support the Monero network.

So long and thanks for all the blocks