Ethereum Expert: 90% of PoW Miners Will Go Bankrupt
Since the Merge upgrade to Ethereum's blockchain, life has become more difficult for ether (ETH) miners.
Transactions can now be validated without the help of miners or their energy-consuming computers.
Some of these miners have turned towards a proof of work (PoW) fork of Ethereum to continue mining.
Chandler Guo, one of the strongest supporters of the fork, believes that only 10% of miners
Who use PoW to mine ETHPOW Or ETC (the tokens of Ethereum Classic) will survive.
Guo, an Ethereum miner, said that miners who have access to cheaper electricit
y would be the ones to survive.
"Some people [miners] can [continue] working on that", Guo stated. "The rest of the 90% are bankrupt."