As Ethereum’s Merge approaches, some of the miners have chosen Ethereum Classic for their operations.
The miners’ preference for ETC brought an increase in the hashrate of ETC.
Ethereum Classic’s Hashrate Rises
With the approach of Ethereum Merge, some of the ETH miners have moved their operations to ETC. Accordingly, ETC’s hashrate has increased significantly in the last 3 months. Binance also supported a recent ETC mining.
In the announcement, Binance announced its plan to open a new ETC mining pool, which will reportedly have no mining fees. One of the conditions of the announcement was that Binance had the right to change the respective promotions. This suggests that mining fees could bring into the pool in the future.
ETC Mining Hashrate Source:CoinWarzMany miners who discontinue ETH mining may find Binance’s ETC mining pool more attractive than other options available. Still, the announcement highlights that this is the biggest advantage ETC has gained from ETH’s transition to Proof Of Stake.
ETC’s Proof Of Work hash rate has increased from 17,742 TH/S to over 43 TH/S in the last three months. This is attributed to miners migrating from ETH Proof of Work mining to ETC.
