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HomeTechnologyPlan to cut Ethereum energy use sees miners switch cryptocurrencies

Plan to cut Ethereum energy use sees miners switch cryptocurrencies


The Merge, a long-awaited replace which promised to slash Ethereum’s huge power consumption, has as a substitute pushed miners in direction of different cryptocurrencies



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20 September 2022

Man holding laptop next to bank of computer equipment

An engineer at a cryptocurrency mining enterprise

PixeloneStocker/Getty Photos

A radical replace final week to the Ethereum cryptocurrency was supposed to cut back power consumption by 99 per cent, however the financial savings have thus far didn’t materialise as miners evicted from the community flock to different currencies. Estimates counsel that at the very least 50 per cent of power hungry mining {hardware} previously operating Ethereum has now been put to make use of mining different cash.

In a long-awaited and much-delayed replace known as the Merge, Ethereum shifted from a proof of labor (PoW) mannequin – the place …



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