The Ethereum community has been waiting for the Merge for years. It took a long debate before the merger process was initiated. And after a few postponements, the date of the operation was finally fixed. Now analysts are focusing on miners including the Ethereum (ETH) network won’t really be needed after the Merge.
How will mining devices be operated from now on?
According a tweet from Forbes Crypto on August 21, “ Ethereum miners will have few good options after the merger “. According to the Ethereum developers’ schedule, the Merge will take place at block number 58750000000000000000000. This number will likely fall between September 15 and 16. At that time, Ethereum (ETH) will migrate to theProof-of-Stake(PoS), which will make it more secure. The operation of the network will then be more focused on the validation nodes.
The Ethereum (ETH) network will therefore no longer need miners. The latter will then have in their possession equipment worth almost 4 billion dollars that we will have to find a way to exploit otherwise. Currently, only two options are available to them. The first: turn to other coins compatible with their machines like Ethereum Classic (ETC).
The second option is to use their devices on the small part of Ethereum (ETH) that will continue to operate Proof-of-Work (PoW). Only, neither option will allow miners to earn as much revenue as before.
Few attractive options are available to Ethereum (ETH) miners after the Merge. Note that miners continued to invest in mining equipment as the Meltdown approached. This is because they were taking advantage of the situation. Indeed, mining the network has been extremely lucrative since 2021 till date. Its financial return has exceeded that of mining on the Bitcoin (BTC) network.
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