US banking giant JP Morganin a recent report Ethereum Classic (ETC) He said that miners will be the ones who will benefit the most from the transition from PoW to PoS.
First Ethereum (ETH) The entire cryptocurrency market, including the entire cryptocurrency ecosystem, foresees the transition from PoW to PoS, which is planned to take place in mid-September. Merge waiting for it to upgrade.
JP Morgan ETH He said that with the transition to PoS to be made in its network, Ethereum miners will be subject to a sudden change, their role will end and they will look for alternative income streams.
ETH mining Bitcoin (BTC) Stating that it is more flexible compared to mining, the bank has other ETH mining operations. cryptocurrencies He stated that there is a video card that can also be used for
With graphics cards used in ETH mining ETC, Ravencoin (RVN) and Ergo (ERG) Cryptocurrencies can also be mined.
Continuing to evaluate the Merge upgrade, JP Morgan stated that Ethereum mining is popular because of its profitability and that the transition to mining other cryptocurrencies may be more profitable in the near term.
“Ethereum Classic miners could be among the main beneficiaries of the transition from PoW to PoS system.
This is because there is a possibility that there will be an increase in second-hand mining rigs available from ETH miners who decide to become validators in Ethereum 2.0.”
JP Morgan ETH He thinks that with the transition from miners to PoS, the number of mining devices that will remain will increase and ETC miners will have easier and cheaper access to these devices.
With a noticeable increase in hash rate since mid-July, JP Morgan said there are signs that the transition to PoS on Ethereum Classic is already taking place. “Some investors also see Ethereum Classic as a hedge against possible disruptions to the Ethereum blockchain during the transition from PoW to PoS.” said.