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Miners To Suffer Post The Merge, 90% May Go Bankrupt!

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Sep 17, 2022

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Ethereum blockchain’s Merge upgrade brought along a huge change for the (ETH) miners that were working to support the PoW mechanism. Some miners turned to a proof-of-work (PoW) fork of Ethereum so they could continue mining. 

One of the fork’s strongest advocates, Miner Chandler Guo, believes that only 10% of miners using PoW to mine ETHPOW (the token of the Ethereum Merge fork) or ETC (the token of Ethereum Classic) will be able to make it in the ETH Market. Not all miners have access to cheap electricity and around 90% of them may go bankrupt. Nevertheless, Guo has rated the introduction of the PoW fork a “mediocre” 5 on a scale of 10 and expects this to change with time with more miners getting on board.

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