Ethereum miners seemingly disengaged and distanced themselves from Ethereum, and in really large numbers, right after The Merge, factually based on relevant data released by 2miners, a website involved in tracking activities. The details and corresponding data also reveal that the Ethereum miners are distancing themselves from Ethereum by tuning out their individual hardware. Post The Merge, they are supposedly up against adverse and uncomfortably unprofitable scenarios.
According to TheCrowbill, which happens to be an Ethereum Classic miner, recently had a word with The Defiant and shared the gloomy fact that it was indeed indulging in mining and subsequently suffering a massive loss from every front and angle in the bargain.
In his expert judgment and opinion, he disclosed the grim fact that this dismal scenario would, in all probability, continue in the same situation, way, and direction for some time to come. All in all, they are not at all painting the image of their being even the slightest of hope, which has not been understood by the industry experts but by the Ethereum miners themselves.
This factor is understandably attributed to the mass exodus. The other important and pertinent could be based on the fact that, following Ethereum’s chain merge, plenty of Proof of Work miners were thrown out of the network. Instead, Proof of Stake corroborators were given a place of significance and standing. In turn, this led to miners disengaging themselves and walking off with an approximate value of $5 billion in the form of mining hardware.