JPMorgan: Ethereums shift to proof-of-stake validation is going to be quite a good thing for the EC miners

JPMorgan: Ethereums shift to proof-of-stake validation is going to be quite a good thing for the EC miners

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The merge is going to take out of business a lot of miners leaving them no other choice but to switch to something else, said JPMorgan (JPM) said in a report Wednesday.

The Merge  is the first stage of the five stage process that will improve the blockchain and is planned for September .
The bank says that startring from July you could already see growth in Ethereum Classics harshrate signifying that the miners are already switching over. A lot of investors see Ethereum Classic as a saftenet in case something goes wrong during the Merge on the main net says JPMorgan.
We assume that it is very possible that the merge is going to push miners to look for other blockchains that are using GPU mining and start making money there as well as other places. As for mining pools, the shift might go a little bit more unnoticed.

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