Ether (ETH) mining is popular because of its profitability, the bank said, and a shift to mining other cryptocurrencies could mean a hit to profits in the near term. In addition, the sudden influx of large mining pools to a different coin could squeeze margins for the incumbents, the report added. Those ether miners using ASIC (application-specific integrated circuits) equipment have few alternatives beyond Ethereum Classic.
Ethereum Miners Face an Abrupt Change Following the Merge
