According to Ethereum developer Tim Beiko, the merge is likely to be pushed to the third quarter of 2022. Despite the delay, Biko also said that he “strongly recommends not investing more in mining equipment at this point.”
Merge May Be Delayed, Ethereum Hashrate Taps New ATH
Four days ago, Bitcoin.com News reported on Ethereum miners moving away from the blockchain at great speed just before The Merger took place. Merge is the name of the upcoming transition of Ethereum from Proof-of-Work (PoW) to a full Proof-of-Stake (PoS) system. On April 7, 2022, the hash rate of Ethereum reached an all-time high (ATH) of 1.131 petahash per second (PH/s).
Today, Ethereum’s hash rate jumped to another ATH at 1.148 PH/s, according to metrics stemming from the three-month chart hosted on Coinwarz.com. A day earlier, in a Twitter thread, Ethereum developer Tim Beiko published a Core Developers Update.
Tim Beiko: ‘We are definitely in the final chapter of PoW on Ethereum’
In a Twitter thread, Beiko was questioned by a person about Ethereum miners securing the network. The person asked the Ethereum developer if the miners would be “left to dry.”
Biko responded to the person and explained that he would not invest in any mining equipment going forward. “I would strongly suggest not to invest too much in mining equipment at this point,” Ethereum Developer tweeted, The person then asked whether the developers planned a “plug pull” for June or whether the ether mining community had more time. Beiko also answered that question and said:
It won’t be June, but it’s likely to be a few months later. There is no fixed date yet, but we are definitely in the final chapter of PoW on Ethereum.
The statements imply that ether miners will have some more time until the merge’s “plug pull”. Ethash miners (Ethereum’s mining consensus algorithm) are some of the most profitable cryptocurrency miners today. At the time of writing, the Innosilicon A11 Pro ETH miner (1,500 MH/s) could score $0.12 per kilowatt-hour of electricity and $54.30 per day in Ether profits with today’s Ether exchange rates.
What do you think about Ethereum developer Tim Biko’s comments regarding the delay in the merge? Let us know what you think about this topic in the comment section below.
image credit: Shutterstock, Pixabay, WikiCommons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.