Vietnam Crypto Miners Complain About Losses From Ethereum’s Merge
Miners in Vietnam have expressed grievances over the loss of business following Ethereum’s transition to a consensus mechanism that does not require the energy-intensive computing they were providing. Many are in trouble, local media reported, quoting entrepreneurs and mining enthusiasts.
Vietnam’s crypto miners have suffered heavy losses with their mining rigs now shut off after the second-largest cryptocurrency by market capitalization switched to a more energy-efficient framework, VN Express noted in a report. This week, Ethereum (ETH) changed its protocol from proof-of-work (PoW) to proof-of-stake (PoS) with an upgrade called “The Merge,” which was completed on Thursday. It significantly reduces the amount of energy burnt to validate transactions.
Source
t.me/Mining_Crypto_Miner
