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

Subscribe
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.

Other news

WSJ: Crypto-industry participants have started to prepare for the collapse of Binance
Binance is leaving Russia. Why it happened and what to do for its users
SEC once again postpones bitcoin-ETF decision
Unsubtle Optimism. How to make Ethereum faster and cheaper for everyone
JPMorgan has banned any cryptocurrency transactions for UK clients
Rapper Snoop Dogg was offered $194 for costing him $7 million NFT