On September 15 at 14:00 UTC, Ethereum—the world's second-largest blockchain—completed its historic "Merge" (The Merge). This pivotal upgrade integrated Ethereum's mainnet with the Proof-of-Stake (PoS) consensus layer Beacon Chain, transitioning the network from energy-intensive Proof-of-Work (PoW) mining to a staking-based model.
Key Impacts of the Ethereum Merge
1. Energy Efficiency Revolution
Post-Merge data from OKLink reveals:
- 99.95% reduction in energy consumption
- 90% decrease in ETH issuance
Ethereum’s price stabilized around $1,600 post-upgrade, with a market cap exceeding $190 billion (CoinMarketCap).
2. The End of Large-Scale GPU Mining
Ethereum’s shift to PoS eliminates traditional mining:
- Major mining pools like Ethermine discontinued PoW services
- Miners now require 32 ETH stake to participate in validation
👉 How to stake ETH after the Merge
Will Blockchain Miners Face Mass Unemployment?
Industry Shifts:
- $190 billion mining industry seeks alternatives (Messari)
- GPU-mineable coins (excluding ETH) represent just 2% of ETH’s market value
- Mining farms pivot to Ethereum Classic (ETC) or Web3 protocols
Hardware Market Fallout:
- Graphics card prices plummeted post-Merge
- NVIDIA’s Q2 earnings show 66% drop in mining chip revenue
- Former miners describe the Merge as "the end of an era"
FAQ: Ethereum Merge’s Aftermath
Q: Can miners still profit after the Merge?
A: Limited options exist—ETC mining or staking ETH—but profitability pales compared to pre-Merge earnings.
Q: How does PoS benefit Ethereum?
A: Lower energy costs, reduced gas fees, and improved scalability for future upgrades like sharding.
Q: What happens to unused mining rigs?
A: Some repurposed for AI/cloud computing; others sold at losses as demand crashes.
The Broader Ecosystem Impact
China’s mining supply chain faces restructuring:
- Shenzhen’s Huaqiang North electronics hub lost its mining boom
- Underground farms persist in remote regions despite regulatory crackdowns
As Ethereum co-founder Vitalik Buterin noted, "The Merge is a critical step toward sustainability—but adaptation is painful." While miners mourn, the blockchain evolves.
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