Last week Ethereum changed their blockchain system from a PoW (Proof-of-Work) system to a PoS (Proof-of-Stake) form that will reduce processing energy consumption by up to 99%. This process of change given the name "The Merge" has an impact not only on the environment but on global crypto miners.
After The Merge is done, crypto mining using GPU is no longer profitable. According to a report by PCGamer using data from the site WhatToMine – which compares the cost of GPUs and the profits that can be generated – only a small number of cryptos can still turn a profit.
The profit here is also small around $0.31 (~RM 1.41) a day before taking into account the cost of electricity. This is achieved by mining less popular cryptocurrencies with still low value.
As a result many miners are now reducing their activity and some may just sell their mining machines while waiting for the crypto value to stabilize.
The reduction of energy consumption has been a target from the beginning of crypto supporters who see it as a more democratic currency of the future. But as we can see this year the value of various types of cryptocurrencies is unstable with values that can change greatly within a few days.
Good news for fans of video games with GPU mining is no longer profitable, the process of buying a graphics card will be easier because it will no longer be hijacked by miners.