It appears that some GPU owners have resorted to selling power to non-crypto projects after the Ethereum merger.
It’s been nearly two weeks since Ethereum made its historic transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), and some ex-Ether
The miners say they still have no idea how to proceed.
After the merger, many took to Crypto Twitter to discuss what they think will happen to these former Ethereum miners. On the day of the merger, Twitter user hashoveride tweeted:
Twitter user BakaMoriDesu suggested in a tweet that former eth miners would simply move on to the next profitable coin, adding: “As an RVN miner, I doubt it will be even more profitable after the halving.”
Cointelegraph got in touch with several former Ethereum miners to find out what their plans are for the future. However, the general consensus revealed that many were still unclear on their next steps. Former miner Christian Ander shared with Cointelegraph:
“To be honest, I don’t know myself yet. Selling GPU power to other compute-intensive services is not as profitable as ETH was.”
“I research myself and my partners look at options,” Ander added, noting, “GPU owners research and sell power to non-crypto projects. And when power prices are too high, they shut down and sell the excess power to the network.Ander said that he is not currently mining cryptocurrencies and is only assessing the market.
Another former Ethereum miner, Kevin Aguirre, shared with Cointelegraph that he sold his hardware to his partner, who now uses it to mine other coins, noting:
“I do have some regrets about the result with my mining machine, but in the end it helped me and my family during the pandemic.”