Ethereum founder Vitalik Buterin says the much-anticipated network update, known as the Merge, is expected to be released on September 15. Ethereum 2.0 represents a transition from mining blocks under the proof-of-work method toward the proof-of-stake one. "This means the ethereum PoW network now has a (roughly) fixed number of hashes left to mine. The merge will happen around Sep 15, though the exact date depends on hashrate,” Vitalik Buterin tweeted. ETH developers note that the Merge will make the Ethereum network more secure while increasing the transaction speed. They are also not sure about the exact date when ETH leaves mining for good. The transition depends on the preparation of the upgrade, a key stage of which is the transition of public testnets to the PoS. The first testnet called Ropsten takes two stages of transition. During the first stage, Etherians will launch a new network and activate the new consensus method on it. The second stage suggests the integration of the PoS algorithm with the Ropsten testnet within a month after the launch. The same procedure applies to the Kiln and Kintsugi testnets. Once the networks are tested, the ETH mainnet will use the PoS method. Earlier, Bloomberg reported that Ethereum peaked at a new 2-month high of $1,919 after the successful Goerli testnet merger.