Ethereum Merge to 'flood' other coins with miners - Mining CEO

The Ethereum merger could force many crypto miners to abandon and abandon their expensive mining rigs in the midst of a run down for profits.

The Ethereum network's transition from consensus proof-of-work (PoW) is likely to flood the crypto industry with out-of-work Ether (ETH) miners, causing severe disruption for all PoW tokens .

Speaking to Cointelegraph, Andy Long, CEO of Bitcoin miner White Rock, believes that the upcoming Ethereum merger will force PoW miners to seek greener pastures, such as other PoW blockchains, and so "flood" other coins - increasing mining difficulty and reducing profitability, stating:

"As GPU miners point their hardware to other chains, their difficulty will increase, leading to lower returns and spreading the reward among more miners."

Long added that the migration will likely force many crypto miners to abandon and abandon their expensive mining rigs.

“The hash rate will go to alternative PoW GPU coins, and many miners will just give up and try to sell their card farms,” he said.

"Some miners will try to sell their high performance computing (HPC) or GPU c...