As the price of Ethereum is around $ you may be wondering to yourself whether it's worthwhile to mine ETH. Like Bitcoin, Ethereum is a proof-of-work. The ethereum difficulty bomb, which makes mining harder with an exponentially increasing difficulty level over the time was introduced to discourage the miners. The target is valid as per the difficulty – a lower target has a smaller set of valid hashes and is easier for miners to verify it and vice. CRYPTOCURRENCY PRICE CHARTS HISTORY

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Miners will abandon the previous PoW version of the blockchain in favor of the new PoS consensus method as a result of the increased difficulty. Why has the difficulty bomb been postponed? Since the protocol swap, the Ethereum difficulty bomb has been postponed five times. Core devs have agreed to postpone the implementation of the difficulty bomb until August , based on the results and discoveries from the test merge. Last month, Vitalik Buterin, the co-founder of Ethereum, indicated that if the team required additional time to fix the flaws, the difficulty bomb might be delayed until September or October Ethereum cannot make mining more difficult without also providing nodes with a more viable alternative, namely staking.

On the other hand, when devs discussed the bug discovery on June 10th, , they stated that delaying the difficulty bomb would not cause the Merge to be delayed. We believe it will not cause the Merge to be delayed. I honestly hope this is not the case. This increase in block times negatively affects multiple aspects of the Ethereum ecosystem. For a regular user, this simply means that blockchain transactions will take longer to get validated.

This happens because the increase in block time leads to less coins being generated by miners every day. Many miners will be forced to shut down their operations, lowering the decentralization of the network hashrate. As of the latest Devs Meeting on May 27th, no definite decision was made. The next step would be for someone to make a proposal to delay the difficulty bomb in the form of an EIP and further discussion should follow during the next meeting.

What can you do as a miner to remain profitable? As a miner you should take some measures to ensure that you can stay profitable. You should also make sure you are tuning your GPUs for mining! If you have high electricity prices, it might be more beneficial to tune your GPU to have a higher efficiency instead of a higher hashrate.

A lower hashrate will result in lower earnings, but since you are using less power, your overall profits may be higher. Try NiceHash QuickMiner Alternatively, as Ethereum becomes less profitable, you may see that other cryptocurrencies are paying more. NiceHash Miner will automatically switch to the most profitable algorithm for you to mine and, best of all, you will get paid in Bitcoin regardless of what you are mining. If you have any questions or would like to learn more about crypto, join our official Discord server or our subreddit and chat with the community!

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