{"id":65691,"date":"2022-08-11T17:39:29","date_gmt":"2022-08-11T14:39:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65691"},"modified":"2025-09-06T21:22:40","modified_gmt":"2025-09-06T18:22:40","slug":"jpmorgan-the-merge-will-hit-ethereum-miners","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jpmorgan-the-merge-will-hit-ethereum-miners\/","title":{"rendered":"JPMorgan: The Merge will hit Ethereum miners"},"content":{"rendered":"

With Ethereum’s transition to the Proof-of-Stake (PoS)<\/a> algorithm, miners will have to seek alternative sources of income. This is stated in a JPMorgan report obtained by CoinDesk<\/a>.<\/p>\n

Analysts note that GPU-based Ethereum mining remains popular due to its high profitability. A switch by GPU miners after The Merge<\/a> to altcoins such as Ethereum Classic, Ravencoin, or Ergo is expected to yield only meaningful returns in the near term.<\/p>\n

Representatives of JPMorgan say that a sudden influx of large players into the ecosystems of alternative coins could sharply reduce mining profitability.<\/p>\n

One of the main beneficiaries of the upgrade will be Ethereum Classic (ETC) miners, for whom a “plethora of mining devices” for this cryptocurrency will become available.<\/p>\n

Experts have already noted signs of capacity shifting toward ETC mining. This is evident from the hash rate growth observed since around mid-July.<\/p>\n

\\\"JPMorgan:
Hash rate dynamics of Ethereum Classic. Data: Coin Metrics<\/a>.<\/figcaption><\/figure>\n
\n

\\”Some investors also view Ethereum Classic as a hedge against any potential problems for Ethereum during the transition from PoW to PoS,\\” according to the report.<\/p>\n<\/blockquote>\n

Experts have also allowed for a gradual dispersion of hash-power across various networks that support GPU mining.<\/p>\n

Earlier, Ethereum developers successfully migrated the Goerli testnet to Proof-of-Stake<\/a>, conducting a ‘final rehearsal’ before The Merge activation.<\/p>\n

Follow ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

With Ethereum’s transition to the Proof-of-Stake algorithm, miners will have to seek alternative sources of income.<\/p>\n","protected":false},"author":1,"featured_media":65692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,476,229,1138],"class_list":["post-65691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-ethereum-classic","tag-jpmorgan","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65691"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65691\/revisions"}],"predecessor-version":[{"id":65693,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65691\/revisions\/65693"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65692"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}