POW mining ETH will be profitable until mid-September
The developers of the Ethereum blockchain project have announced that they do not plan to introduce a “difficulty bomb” in the summer. This means that ETH miners have an additional 2.5-3 months for POW mining.
This week, the creators of the cryptocurrency have merged with the Ropsten test network. However, the price of ETH is in a steep decline and the market situation has not improved after technological changes. Therefore, it was decided not to take risks and postpone major blockchain updates until mid-September.
Not all developers are happy with this decision. According to Ben Edgington, it is sad to realize that every 7 days, POW mining on the Ethereum blockchain generates a huge amount of CO2.
At the same time, it is also reported that the full transition to the new network will take place no earlier than October-November 2022. Until that time, mining will gradually become more and more unprofitable from an economic point of view.
We will follow the development of the situation. Read our news and subscribe to social networks. You can also start mining cryptocurrency using Hive OS service.
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