{"id":250839,"date":"2022-08-08T12:00:15","date_gmt":"2022-08-08T06:30:15","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=250839"},"modified":"2022-08-18T16:38:00","modified_gmt":"2022-08-18T11:08:00","slug":"miners-and-eth-2-0-where-do-they-stand-now","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/miners-and-eth-2-0-where-do-they-stand-now\/","title":{"rendered":"Miners and ETH 2.0 – Where do they stand now"},"content":{"rendered":"

As we approach the Ethereum Merge, the crypto-community\u2019s opinions have been more vocal than usual. The much-awaited ETH 2.0 will change the blockchain\u2019s consensus mechanism to a Proof-of-Stake model, pushing ETH miners out of business. Apart from the chances of them quitting the mining industry, there is a possibility that they opt for a hard fork in the Ethereum network or also try to switch to a different blockchain.\u00a0<\/span><\/p>\n

What is going on?<\/h4>\n

Recently, Hongcai “Chandler” Guo, a former ETH miner, mentioned in an interview<\/a> that multiple Chinese Ethereum mining machine manufacturers reached out to him to initiate forking efforts. According to journalist Colin Wu, there are nearly $5 billion worth of graphics card mining machines and ASIC Ethereum mining machines (A11 E9) that need to find a way to continue mining after the Merge.\u00a0<\/span><\/p>\n

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At present, there are nearly 5 billion US dollars of graphics card mining machines and ASIC Ethereum mining machines (A11 E9) that need to find a way to continue mining after Ethereum turns to POS in September. Most belong to Chinese miners.<\/p>\n

— Wu Blockchain (@WuBlockchain) July 29, 2022<\/a><\/p><\/blockquote>\n