Ethereum merge to “flood” other coins with miners- Andy Long –

• The Ethereum Merge could push several crypto miners to abandon their costly mining rigs.
• The Update is likely to be launched between September 10-20.

The conversion from the proof-of-work consensus of the Ethereum network can probably pour the crypto space with out-of-work ETH miners, resulting in extreme disturbance to all PoW tokens.

In an interview, the chief executive officer of Bitcoin miner White Rock, Andy Long, claimed that the forthcoming Ethereum Merge would push PoW miners to overlook greener pastures like other PoW blockchains. Therefore flood other coins – growing mining problem and decreasing profitability, elaborating:

“As GPU miners highlights their hardware at other chains their problem will grow resulting lesser returns and dividing the profit amongst many miners.”

He further added that the migration would probably push several crypto miners to surrender and leave their costly mining rigs.

“Hashrate will run to different GPU PoW coins, and most of the miners will simply surrender and take an attempt to quit their farms of cards,” he explained. 

“Many miners will attempt to sell their High Performance Computing (HPC) or GPU cloud services and will probably not work as there is so much ability hunting a restricted amount of demand,” he said.

GPU prices and demand have been reducing so far as a consequence of reducing Bitcoin (BTC) prices, resulting in few cards selling for under the list price and sellers fighting to unload their mining rigs and card for increased prices.

Merge as a forthcoming threat

No matter what happens after the upgrade Merge, the CEO claimed that he is “not vigorously opposed” and is excited to witness “how market forces take place.” 

“When i was making GPU farms in 2017, the upgrade was quoted as a forthcoming threat and would have been much more impressive and effective then.”

“There will always be GPUs mining few GPU advanced chains, but I have dubiety we will go back to the levels of revenue witnessed in ETH proof-of-work at its hugh ever again.” 

Ethereum is anticipated to convert to a proof-of-stake (PoS) mechanism amid September 10-20 and is treated as one of the most important updates in the crypto industry in 2022.

There are several cryptocurrencies that are ready to carry on along their PoW path, adding Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Monero (XMR), Zcash (ZEC), and Ravencoin (RVN).

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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