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The Merge
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A Look Back at the Golden Age of Ethereum PoW Mining: Miner Revenue and Historical Turning Points
Ethereum's proof-of-work (PoW) mining era officially ended with the "Merge" upgrade in September 2022, but prior to that, miners experienced a highly profitable period. Particularly during the DeFi boom of 2020-2021, high Gas fees led to a surge in miner revenue, with total revenue for 2021 approaching $19 billion. Although the implementation of EIP-1559 changed the fee mechanism, miners could still earn substantial profits through block rewards and priority fees. As the network transitioned to proof-of-stake (PoS), Ethereum miners faced a transformation, and the graphics card market was significantly impacted as a result.
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A Look Back at the Golden Age of Ethereum PoW Mining: Miner Revenue and Historical Turning Points
Ethereum's proof-of-work (PoW) mining era officially ended with the "Merge" upgrade in September 2022, but prior to that, miners experienced a highly profitable period. Particularly during the DeFi boom of 2020-2021, high Gas fees led to a surge in miner revenue, with total revenue for 2021 approaching $19 billion. Although the implementation of EIP-1559 changed the fee mechanism, miners could still earn substantial profits through block rewards and priority fees. As the network transitioned to proof-of-stake (PoS), Ethereum miners faced a transformation, and the graphics card market was significantly impacted as a result.
The Merge
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