With Ethereum’s transition to the Proof-of-Stake (PoS) algorithm, miners will have to look for alternative sources of income. This is stated in the JPMorgan report, which is at the disposal of CoinDesk.

Analysts noted that ether mining on video cards is still popular due to its high profitability. Switching GPU miners to altcoins like Ethereum Classic, Ravencoin or Ergo after The Merge only promises tangible returns in the short term.

JPMorgan representatives are confident that the sudden emergence of major players in alternative coin ecosystems is fraught with a sharp decline in mining profitability.

One of the main beneficiaries of the upgrade will be Ethereum Classic (ETC) miners, who have access to “many devices to mine this cryptocurrency.”

Experts have already noted signs of their capacity to switch to ETC production. This is noticeable in the hash rate growth observed since mid-July.

“Some investors are looking at it as a hedge against any potential Ethereum issues during the transition to Ethereum Classic. PoW It’s on PoS,” says the report.

Specialists also allowed a smooth distribution of power between various networks, providing the possibility of mining on video cards.

Recall that Ethereum developers successfully imported the Goerli testnet into Proof-of-Stake by performing a “final proof” before enabling Consolidation.

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