Ethereum’s developers have officially confirmed September 6 as the date for Ethereum’s long-anticipated transition from proof of work to proof of stake, known as The Merge.
With the move away from proof of work, Ethereum mining will no longer be viable as of next week, leading many to ask us where this leaves us with the % of mining equipment we have collectively dedicated to ETH.
Fortunately we’ve been preparing for this scenario since we conceived Alchemy as we knew that the merge was coming!
We asked Brian Michaud, our partner and head miner to comment:
“When we brought alchemy to life, one goal was to not have all of our eggs in the Bitcoin basket and therefore we allocated a portion of our hashing power to GPUs vs ASICs. However, we deliberately chose GPUs that could be repurposed to other algorithms and therefore other coins for exactly this reason.”
With the merge due to happen beginning of September, our team will begin to migrate our ETH efforts to other currencies, such as NEOX, ERG and RVN depending on the rewards associated with the coin at the point of the merge.
For more information on what coins we can mine, you can check whatToMine.com which keeps an accurate list per miner.