Ethereum Merge: Hashrate migration of miners to Ethereum Classic
All ETH miners are currently repositioning themselves and are looking at alternative cryptocurrencies. While the Ethereum Merge, the consensus change from Proof of Work to Proof of Stake, essentially pulls the plug on the miners, the miners' hashrate migration to Ethereum Classic, i.e. back to the roots of the Etherium network, has long since begun.
In some networks, rapid increases in the hashrate of Ethereum Classic have been observed. The hash rate has multiplied since July, although the yield from the alternative to Ethereum is currently significantly lower. Industry giants like Hive Blockchain encourage that ETC is still developing. It is currently not possible to predict how the run will affect classic Ethereum, as the majority of miners will mine Ethereum until the last day of the merge due to its continued profitability.
We are looking forward to the next few weeks with excitement, but we are all the more convinced that, in relation to our own quota, a healthy mix of miners makes more sense than ever before, e.g. equal proportions of Bitcoin, Kadena or Litecoin miners. Healthy risk distribution must be part of a sound investment strategy.