The Merge is coming, and Ether miners are excited. The balance of Ethereum miner addresses exceeded 260,000 ETH with a total of 261,848 ETH valued at over $415 million at the current price.
The Merge is being touted as one of the biggest upgrades for the Ethereum blockchain as it would help the network move to a more energy-efficient way of verifying transactions and eliminate PoW mining completely. With the Merge date approaching, Ether miner's balance has touched a new four-year high.
Another major factor is the hard fork. The majority of ETH miners are in favor of a hard fork to keep the PoW chain alive and continue mining. Thus, in the case of a hard fork, these miners holding onto ETH would also receive an airdrop of the forked token. While the value of the forked token might not appreciate in tune with the main ETH chain, however, it would still ensure additional capital.
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