Tim Beiko (ethernet developer) says that The Merge will likely be moved to the third quarter 2022. Despite the delay, Beiko also said he “strongly suggests not investing more in mining equipment at this point.”
Ethereum Hashrate taps new ATH to delay the Merge
Bitcoin.com News reports that ethereum miner were working hard at the blockchain just four days before The Merge. The Merge is the name of Ethereum’s upcoming transition from proof-of-work (PoW) to a full proof-of-stake (PoS) system. On April 7, 2022, Ethereum’s hashrate tapped an all-time high (ATH) at 1.131 petahash per second (PH/s).
Today, Ethereum’s hashrate reached another ATH at 1.148 PH/s, according to metrics stemming from the three-month chart hosted on coinwarz.com. A Twitter thread by Tim Beiko, an Ethereum developer, published a Core Developers Update the day before.
Tim Beiko: ‘We’re Definitely in the Final Chapter of PoW on Ethereum’
Beiko was quizzed by an individual on the Ethereum network security miners. The individual asked the Ethereum developer if miners would be “left out to dry.”
Beiko replied to the individual and said that he wouldn’t invest in mining equipment going forward. “I would strongly suggest not investing more in mining equipment at this point,” the Ethereum developer tweeted. Then the individual asked if developers planned the “plug pull” for June or if the ether mining community has more time. Beiko answered the question with:
It won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.
The statements imply that ether miners will have some more time until The Merge’s “plug pull.” Ethash miners (Ethereum’s mining consensus algorithm) are some of the most profitable cryptocurrency miners today. At the time of writing, the Innosilicon A11 Pro ETH miner (1,500 MH/s) can score $54.30 per day in ether profits with $0.12 per kilowatt-hour electrical costs and today’s ether exchange rates.
How do you feel about Tim Beiko’s comments regarding delaying The Merge Comment below and let us know how you feel about the subject.
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