Ethereum mining after proof of stake
In what some might call a half-baked effort to keep Ethereum true to its roots with proof-of-work, a contingent of Chinese ETH miners have. Ethereum consensus switch from Proof-of-Work (POW) to Proof-of-Stake (POS) is expected in the middle of September. This event is also known. When Ethereum transitions to Proof of Stake, there will be a massive influx of miners to the altcoins that are currently profitable. Gaining so many new miners. CURRENT VALUE OF BITCOINS IN INDIA
GPU mining could eventually be profitable after Ethereum moves to proof of stake After Ethereum switches to proof-of-stake almost 1. However, there is little time left for Ethereum in its proof-of-work state. It moves to proof-of-stake later this year when it merges with the beacon chain. What will happen to GPU miners, and where will the hashing power end up? There are plenty of options, but will any of them be profitable following a considerable increase in hashrate?
Source: f2pool The Ethereum Merge The decline in crypto markets has made even mining Ethereum unprofitable for many miners. But if you really believe that, why bother investing potentially thousands of dollars into PC hardware to mine at a very low rate, when you could just invest directly in whatever coin s you happen to like?
As we noted in our recent GPU price check right before The Merge happened, it's difficult to imagine any scenario in which a lot of the former mining GPUs don't end up being sold at secondhand markets like eBay in the coming months. Factor in the warehouse space, power costs, personnel to run everything, and other infrastructure considerations, and even ultra cheap power doesn't make GPU mining sensible.
It's a good time for mining farms to either pocket their earnings and sell off their remaining inventory, or cut their losses and close up shop. Buying a used graphics card looks like it's set to become far more tempting in the near future, in other words. Our advice: buy from an established seller on a market like eBay that allows for returns.
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