Nearly two weeks have passed since Ethereum’s historic transition from proof of work to proof-of stake. Some ex-ETH miners claim they are still unsure how to proceed.
GPU #mining has stopped within 24 hours of the #merge. These are the three biggest #GPU chains with current profitability and a 3090 GPU, 6 usC//kwh#ETC and a 37 C/#RVN 3 C/ The only coins that show profit have no marketcap and liquidity. Profit is not real #btc
— September 15, 2022, Hashoveride (BTCen Gagnon), (@hashoveride).
BakaMoriDesu, a Twitter user, suggested that ex-eth miners would just move on to the next profitable coin. He added, “As RVN miner I doubt it will still be profitable after the halves.”
Ex-eth miners are likely to move to any coin that is more lucrative. It won’t be financially viable for RVN miners after the halving.
— Frontender Ordy, @BakaMoriDesu January 11, 2022
Cointelegraph reached out to a few former Ethereum miners in order to learn more about their plans moving forward. The general consensus was that many people were not clear on what their next steps would be. Christian Ander, a former miner, shared his experience with Cointelegraph
“To be completely honest, I don’t know much about myself.” Selling GPU power to other computing intensive services is not as lucrative as it was.
Ander said, “I am doing my own research and my partners look into options.” He also noted that “GPU owners do research and sell power to non-crypto projects. And they sell excess power to the grid when energy prices are high.” Ander stated that he is not currently mining crypto and is only evaluating the market.
Kevin Aguirre shared his experience as an ex-Ethereum miner with Cointelegraph. He said that he had sold the hardware to his partner who was now mining other coins.
Although I regret the outcome of my mining machine accident, it was a support system for me and my family during the pandemic.