Ethereum Miners Are Feeling The Pain After The Merge

David Pan – A journalist – has published an article in Bloomberg and shared his viewpoint on Twitter at the same time about the Ethereum Miners suffering 30-40% down in gross profit margins. 

Ether Miners are unsatisfied just after the Merge happened as up to 25% of power has shifted automatically to other coins that result in the negative profit.

The controversial thing mentioned here is that all miners have to shift to Ethereum Classic and Ravencoin – which are lover value than Ether. That means all works are degraded. 

The Merge officially happened on 15 Sep 2022 and transferred from PoW to PoS, whereby the graphic cards are switched to individuals staking Ethereum. 

All tokens are still in the old version of the Ethereum consensus mechanism. Meanwhile, miners can use GPUs to earn coins but have to solve all puzzles with a small volume of coins to gain rewards.

>>> Read more: The Merge Successful, Ethereum Officially Started Using Proof-of-Stake <<<

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