 | As you all know, Ethereum is about to shift to Proof-of-stake consensus in less than 24 hours. So, here is some data on current ETH and GPU mining stats. Ethereum's total network hash rate is 901,320 Gh/s. To simplify the calculation, Lets assume only RTX3070 GPUs are being used currently by miners to mine ETH. One RTX3070 GPU can generate 60Mh/s hash rate. By this logic 15,022,000 RTX3070 equivalent GPUs are currently being used by miners in mining eth. All these GPUs will be of no use for Ethereum miners, after the merge. Miners have only two choices left:
But as you can see in the image (yellow-coloured column), only 7.99% of these GPUs can be absorbed by altcoins i.e. roughly 1.2 million GPUs. If more miners try to mine these altcoins, they have to mine without any profit that doesn't make sense. 2. Mine ETH PoW forked chain A new forked chain is also not capable enough to consume such a huge number of GPUs for mining. What do you think, will happen to these GPUs? This will also effect the stock price of companies like Nvidia. All the data snapshots is taken from whatomine.com on Sept 6, 2022. Meanwhile, gamers are going to be happy for the first time with crypto. [link] [comments] |
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