The Ethereum Merge could force many crypto miners to give up and abandon their expensive mining rigs. On the other hand, some miners will flood other PoW tokens.
) prices, leading to some cards selling for below the list price and sellers struggling to offload their mining rigs and cards for inflated prices.
Regardless of what happens after the Merge, Long says he is “not strongly opposed” and is interested to see “how market forces play out.” “When I was building GPU farms in 2017 the Merge was cited as an imminent threat and would have been much more impactful then:” “There will always be GPUs mining some GPU optimized chains, but I doubt we will return to the levels of revenue seen in ETH proof-of-work at its peak ever again.”
Ethereum is expected to transition to a proof-of-stake mechanism between September 10-20 and is considered one of the most significant upgrades in the crypto market this year.
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