JPMorgan: ETC Miners Likely to be Among Main Beneficiaries of Shift to PoS Validation

JPMorgan research reports that Ethereum mining is dominated by GPU rigs and can be more easily reconfigured to mine for other cryptocurrencies such as Ethereum Classic (ETC), Ravencoin and Ergo. In addition, the sudden influx of large mining pools to a different coin could squeeze margins for the incumbents. Those ether miners using ASIC equipment have few alternatives beyond Ethereum Classic, so ETC miners could be among the main beneficiaries of the switch. There are signs this shift to Ethereum Classic is already taking place.