Key Announcements from Major Mining Pools
Leading Ethereum mining pools have issued updates regarding the upcoming ETH Merge.
Note: ASIC miners require firmware updates to mine ETC. Bitmain's E9 Ethereum miner has released ETC-compatible firmware, currently supported by Antpool, F2Pool, and Poolin. Users can download the firmware from Bitmain's official website to begin mining ETC.
ASIC vs. GPU Mining Share
- BitPro CEO: ASIC-to-GPU ratio estimated at 1:9.
- Industry expert Michael Carter: ASIC-to-GPU ratio ranges between 2–3:7–8.
Mining Companies: Transition Strategies
- Mine alternative PoW coins (e.g., ETC, ERG, RVN).
Shift to high-performance computing (HPC) data centers—
- Companies like Hut 8 and HIVE Blockchain are pivoting to HPC, acquiring data center assets to serve cloud providers like AWS.
- Provide HPC services for Web3 middleware (rendering, compute).
Sell mining rigs and stake mined ETH in PoS—
- Validator nodes yield 7–13% returns via block rewards and MEV. Miners with <32 ETH can use staking services.
Feasibility of Mining ALEO
- Possible but costly—Requires multi-GPU server boards, multi-core CPUs, and high-bandwidth RAM.
Comparative retrofit costs:
- FIL storage rigs < Chia plotting rigs/AR < Ethereum GPU rigs.
- Challenges: Higher difficulty post-conversion and diminishing returns due to increased hash rate.
PoW Coins: Hash Rate and Market Trends
Post-Merge, ETH miners may transition to:
- ETC, ERG, RVN, CFX, FIRO, FLUX, BEAM
Recent Trends (2 Months)
| Coin | Hash Rate Growth | Price Change |
|-------|------------------|--------------|
| ETC | +127% | -10.97% |
| ERG | +97.6% | +115.9% |
| FLUX | +89.9% | +107.1% |
Key Observations:
- ETC’s hash rate could surge from 45 TH/S to 130 TH/S if 10% of ETH’s ASIC hash rate migrates, slashing miner rewards.
- ERG and FLUX outperformed ETC in price growth, suggesting ETC may be undervalued.
Antminer E9 ROI Analysis
- Cost: $9,999 (Bitmain’s E9).
- Current ETC hash rate: ~307-day ROI. If difficulty doubles, ROI extends to ~650 days.
👉 Explore mining profitability tools
Industry Perspectives
- Large-scale miners may transition to HPC or Web3 services.
Smaller miners face limited options:
- Wait for ETHW pools.
- Sell rigs and stake ETH.
👉 Stay updated on mining trends
FAQ
Q: Can Ethereum ASICs mine other coins post-Merge?
A: Yes, with firmware updates (e.g., ETC).
Q: Which PoW coins are most profitable post-Merge?
A: ERG and FLUX currently show higher price resilience vs. ETC.
Q: What’s the ROI for Antminer E9?
A: ~307 days at current ETC difficulty; could double if hash rate surges.