Nuant

A side effect of the Ethereum Merge was the sudden freeing up of enormous mining capacity – with the Dogecoin, Litecoin and Syscoin networks all benefiting.

The computing equipment no longer needed to provide network security for Ethereum seems to have reallocated to these smaller blockchains, which have enjoyed higher hash rates (and therefore stronger security) since the Merge. However, the increase cannot be entirely attributed to old Ethereum rigs being repurposed. Rather, changing economics (including relative price movements as well as equipment and energy costs) seem to have attracted new miners to these networks.

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Litecoin, Dogecoin See Mining Surge After Prices Rise Post-Merge The Ethereum Merge wiped out an enormous segment of the crypto mining sector. But where did all that hash rate go?