No GPU Mining After the Ethereum Merge? Fork Token or ETC to Mine?
14 September 2022 - 02:25PM
NEWSBTC
According to Watcher Guru, we are only 12,554 away from the
Ethereum Merge, which is expected to happen at 1:09 on September 15
(CST). By then, Ethereum will have transitioned to PoS, a major
blow to PoW miners in the network. The Merge will force PoW miners
that operate the $19 billion mining business to find alternatives.
Source: https://watcher.guru/ethmerge Recent data shows that
Ethereum miners are fleeing from the network. Right now, the
average computing power of the whole Ethereum network stands at 854
TH/s. Trending downwards during the past week, the figure has
dropped by about 19% from the peak in May. Ethereum’s massive PoW
hashrate is of great significance to the entire crypto mining
industry, and the ETH hashrate will shift to other PoW coins once
Ethereum shifts to PoS, which may reshape the whole mining sector.
Facing the impending transformation of the mining sector, Ethereum
miners might exclude themselves from the shift to PoS by the
Ethereum community to protect their own interests. From this
perspective, PoW miners on Ethereum might root for a hard fork to
preserve the existing PoW chain and generate a new coin. However,
such a fork coin can be problematic in terms of risks and security.
If Ethereum is forked, projects within today’s largest crypto
ecosystem will have to make a choice. Meanwhile, multiple
mainstream projects, covering the two stablecoin issuers Tether
(USDT) and Circle (USDC), the oracle ChainLink, and the on-chain
lending protocol Aave, have stated their support for the PoS chain.
Without support from popular projects, the PoW chain will be
worthless. Of course, some miners might choose to accept the
reality and switch to ETC. The DAO hack split the Ethereum
community into the ETH camp and the ETC camp. The two now differ in
terms of algorithm, and ETH mining machines might need to go
through firmware updates to become compatible with ETCHASH, the ETC
mining algorithm. Despite that, there is no technical barrier
between ETH and ETC, and it is cheap to switch from one to the
other. As such, it is foreseeable that the ETC hashrate will soar
after the Merge. In response to the current boom of ETC mining,
many pools, including ViaBTC, have been offering mining benefits.
Back in early September, ViaBTC Pool announced that it will
terminate the pool’s PoW mining service and the revenue calculation
of ETH when the TTD reaches a set threshold. The pool said that
asset management functions such as ETH deposits & withdrawals
and conversion, as well as ETH financial services that include
hedging and loan, will remain available. It also recommended the
ETC pool to miners who plan to continue with their PoW mining
operations. To help miners switch to ETC mining, ViaBTC has
partnered up with Bitdeer, a top mining service provider, and
offered a major benefit: a free trial of the MiningOS firmware. All
ViaBTC users can benefit from the six-month free trial of MiningOS,
which will help miners minimize costs and maximize returns.
Featuring simplicity, enhanced security, and high yields, MiningOS
is an innovative firmware for GPU mining developed by the Bitdeer
Group. The product is simple in that it allows miners to deploy
their mining operation with one flash drive for downloading the
image file, without having to go through the complicated code
burning process. Backed by a top mining brand, MiningOS supports
SSL connection and emphasizes security and privacy protection.
Having been tested on a large number of GPU mining machines,
MiningOS ranked second in terms of average revenue, and the figure
is more than 2% higher than that of the second-place winner. Over
time, the seemingly small difference will be translated into a
substantial increase in revenue. Join the event at
https://minerplus.bitdeer.com/miningos Try out MiningOs for free:
Click on the link or scan the QR code in the above picture to open
the event page; Register and log in to your Bitdeer account;
Install and deploy the MiningOS firmware; Contact customer service
and apply for ViaBTC-exclusive benefits; Select ViaBTC Pool in the
mining configuration; Enjoy the superior mining experience brought
by MiningOS-enabled smart mining and hashrate boost. CPUs covered
GTX 3070, GTX 3080, and GTX 1660s Target crypto ETC How to install
MiningOS: You can click on the link below for the specific
installation instructions or get help from customer service on the
Bitdeer website:
https://bdminerplus.zendesk.com/hc/en-us/articles/9876983152921-MiningOS-Installation-Tutorial
About Bitdeer Bitdeer Group is the world’s leading provider of
digital asset mining services. It was founded by Jihan Wu, a
renowned pioneer in the cryptocurrency industry, along with Sequoia
Capital, IDG and other well-known blockchain investment
institutions. The group consists of two service platforms,
“BITDEER” and “MinerPlus”, which provide a full range of mining
services that include hashrate sharing and smart mining solutions.
About ViaBTC ViaBTC, founded in May 2016, has provided
professional, efficient, safe and stable cryptocurrency mining
services for over one million users in 130+ countries/regions
around the world, with a cumulative mining output value of tens of
billions of dollars. As a world-leading, all-inclusive mining pool,
it provides mining services for more than ten mainstream
cryptocurrencies including BTC, LTC, ETC, etc. Backed by the
one-stop, all-inclusive services spanning the mining pool, the
exchange, and the wallet, ViaBTC is committed to offering global
users more abundant supporting tools, stabler and more efficient
mining services, and better product experiences. Image
by Nana Dua from Pixabay
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