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Ethereum miners have migrated to which networks?

GPU_miners_left_searching_for_profit_post_Merge_

By updating the Ethereum platform and changing its consensus mechanism from proof-of-work to proof-of-stake, the ETH mining process became practically impossible. Owners of GPU-based mining rigs had limited options to migrate and continue the mining process after this event. In this article, we discuss how to distribute the processing power (hash rate) of Ethereum miners among other networks.

According to Mihan Blockchain, in order to calculate how the processing power of the Ethereum network is distributed in other networks, we considered the following 6 important networks and measured their hash rate changes during the last month.

Since some of these networks operate with an algorithm other than Ethash, as a result, the basis for measuring their processing power is also different. For example, the processing power of 97 MH/s in the Ethereum network is equivalent to the power of 218 MH/s in the Ergo network and it is equivalent to 42 SOL/s in the Beam network. Therefore, the processing power equivalent of Ethash algorithm should be calculated.

1- Classic Ethereum network

Ethereum Classic Hashrate Chart Source: 2miners
Ethereum Classic Hashrate Chart Source: 2miners
Equivalent to the amount of changes in the Ethereum network The amount of network changes in the last 30 days Network name
171 TH/s 171 TH/s Ethereum Classic

2- EthPoW network

Equivalent to the amount of changes in the Ethereum network The amount of network changes in the last 30 days Network name
43.75 TH/s 43.75 TH/s EthPoW

3- RavenCoin network

RVN Hashrate Chart Source: 2miners
RVN Hashrate Chart Source: 2miners
Equivalent to the amount of changes in the Ethereum network The amount of network changes in the last 30 days Network name
34.41 TH/s 16.32 TH/s RavenCoin

4- Ergo network

Ergo Hashrate Chart Source: 2miners
Ergo Hashrate Chart Source: 2miners
Equivalent to the amount of changes in the Ethereum network The amount of network changes in the last 30 days Network name
38.66 TH/s 86.9 TH/s Ergo

5- Beam network

Beam hashrate chart Source: 2miners
Beam hashrate chart Source: 2miners
Equivalent to the amount of changes in the Ethereum network The amount of network changes in the last 30 days Network name
35.55 TH/s 1.54 MS/s Beam

6- Flux network

Flux Hashrate Chart Source: 2miners
Flux Hashrate Chart Source: 2miners
Equivalent to the amount of changes in the Ethereum network The amount of network changes in the last 30 days Network name
93.12 TH/s 6.24 MS/s Flux

Now, if we assume the ethereum network hashrate to be 900 TH/s about 1 month before the merger, we can calculate the share of each network from this value. It should be noted that part of the remaining Ethereum processing power is distributed among other networks, and another part of it is probably miners who stopped working after finishing ETH mining and decided to sell their mining rig.

Share of networks of Ethereum miners after Marj
A pie chart of the network’s share of Ethereum miners after Marj
  • Which networks took the largest share of Ethereum hashrate after Marj?

Ethereum Classic with 19%, Flux Network with 10.34%, ETHPow Fork Network with 4.86%, Ergo Network with 4.29%, Beam Network with 3.95% and Raven Coin with 3.82% are the largest hosts of Ethereum miners. have been.

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