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Ethereum Merge is ready to happen in a number of days, and White Rock’s CEO believes it will lead to other coins experiencing a rise in miners.

The Ethereum community is ready to transition from a proof-of-work (PoW) consensus to a proof-of-stake (PoS) mechanism later this month. The transfer is designed to improve the Ethereum blockchain to make it sooner, extra scalable, and cut back the price of transactions. 

However,  Andy Long, CEO of Bitcoin miner White Rock, instructed Cointelegraph in a latest interview that the transition is probably going to flood the crypto business with out-of-work ETH miners.

Long stated Ethereum miners could be in search of greener pastures following the Merge occasion, and this will swamp other coins, growing mining problem and decreasing profitability. He added that;

“As GPU miners point their hardware at other chains, their difficulty will increase, causing lower returns and splitting the reward amongst more miners. Hashrate will flow to alternative GPU PoW coins, and many miners will simply give up and try to sell off their farms of cards.”

The CEO believes that the migration would probably drive some cryptocurrency miners to surrender and abandon their mining rigs.  He added that;

“Some miners will try to sell their High-Performance Computing (HPC) or GPU cloud services and will likely fail since there’s too much capacity chasing a limited amount of demand.”

In latest months, GPU costs have been declining, correlating with the lower within the costs of Bitcoin and other cryptocurrencies. As a outcome, some corporations are promoting their rigs beneath the record value, whereas sellers who maintained the traditional costs are struggling to offload mining rigs and playing cards. 

Despite the upcoming Merge, Long stated he’s concerned with seeing how the market forces play out in the long run. He stated;

“When I was building GPU farms in 2017, the Merge was cited as an imminent threat and would have been much more impactful then. There will always be GPUs mining some GPU optimized chains, but I doubt we will return to the levels of revenue seen in ETH proof-of-work at its peak ever again.”

Ethereum’s Merge occasion is slated to occur between September 10-20 and is taken into account one of the crucial important upgrades within the cryptocurrency market in 2022.