Ethereum Merge: Hash rate-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, was pulling the plug on the miners, the miners’ hash rate migration to Ethereum Classic, i.e. back to the roots of the Etherium network, had long since begun.
In some networks, rapid increases in the hash rate of Ethereum Classic can be 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 are encouraging that ETC is still developping. It is currently not foreseeable 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.
So we're looking forward to the next few weeks with excitement, but we're all the more convinced that, based on our own contingent, a sound mix of miners makes more sense than ever before, e.g. equal shares of Bitcoin, Kadena or Litecoin Miners.
A healthy distribution of risk must be part of a sound investment strategy.