It’s been almost two weeks since Ethereum made its historic transition from proof-of-work to proof-of-stake, and some former ETH miners say they have no clue how to move forward.
Following the merger, many took to crypto Twitter to discuss what they believe will happen to these former Ethereum miners. On the day of the merger, Twitter user hashoveride tweeted:
GPU # Mining He died in less than 24 hours # join.
Here are the three biggest ones. #GPU Chains and Current Daily Profitability with 3090 GPU and 6 us¢/kwh#ETC -7¢#XMR -37¢#RVN 2¢
The only coins that show a profit have no market capitalization or currency. The profit is not real. #BTC
– Hashoveride (₿en Gagnon) (@hashoveride) September 15, 2022
Twitter user Bacamoridesu tweeted that ex-It miners are about to move on to the next profitable coin, saying, “Like RVN mining, I doubt it will be profitable after the cut.
Former miners move on to the more profitable coin. As an RVN miner, I doubt it will be profitable after the cut.
– Horde Frontender ❤️ (@BakaMoriDesu) January 11, 2022
Cointelegraph spoke to a few former Ethereum miners to find out what their plans are going forward. However, the general consensus is that many are still unclear on their next steps. Former miner Christian Ander shared with Cointelegraph:
“To be honest, I don’t know myself yet. Selling GPU power to other computing intensive services is just as profitable as eth.
“I’m doing research myself and my partners are looking for alternatives,” Anders added, “GPU owners are doing research and selling power to non-crypto projects.” And when energy prices are too high, they shut down and sell excess power to the grid. Ander said he is not currently mining any crypto and is evaluating the market.
Another former Ethereum miner, Kevin Aguirre, shared with Cointelegraph that he sold the hardware to a colleague and is now using it to mine other coins.
I have some regrets about the results I got with the mining machine, but in the end, it helped me and my family through the plague.