Andy Long, CEO of crypto miner White Rock Management, believes that the Ethereum merger will force PoW miners to look for other PoW blockchains, swamping other coins, increasing mining difficulty and reducing profitability.
Long noted that such a migration could force many cryptocurrency miners to abandon their expensive mining rigs.
“Hashpower will go to alternative GPU PoW coins. Many miners simply give up and try to sell their mining cards,” he said.