Mining Options After Ethereum’s Transition To Proof of Stake

Proof of Stake is Coming Very Soon to Ethereum

Ethereum miners will soon have to deal with the end of an era when Ethereum moves from Proof of Work (PoW) to Proof of Stake (PoS). The move has been rumored for years, but one of Ethereum’s core developers has confirmed the move will happen by late summer 2022:

What Are the Consequences for ETH Miners?

For miners with GPU rigs, there won’t be many alternatives that will make their hardware and electricity costs worth their while. If there were, they’d already be mining there. Ethereum could absorb a lot of hashrate t, something smaller projects can’t offer and would see their rewards plummet if too many fleeing miners jump on board their networks.

Is PoS the Only Option for ETH Miners Going Forward?

Ethereum makes up over 95% of all GPU mining income right now. Although there are technically alternative PoW coins to be mined, just imagine the hundreds of thousands of GPUs that’ll be jumping onto other coins in the coming months. You can imagine what this would do to the hashrate and therefore the profitability of mining that coin.

An Alternative for ETH Miners: the TEA Project

Instead of searching for a new ecosystem with PoW consensus, ETH miners can stay put by mining on TEA Project’s layer-2. The TEA layer-2 will run on top of a number of different chains (including Ethereum).

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