ETC surged 283%. The daily net income of a single mining machine is 57.9 yuan lower than that of ETH on average.

On May 7, according to data from CoinMarketCap, in the past week, the price of ETC has increased by more than 283%, reaching a high of US$176.16 during the session, and the daily trading volume has increased by 2446.57%, with the highest single-day trading volume reaching US$42.721 billion.

Some analysts pointed out that the surge in ETC may be affected by the changes in Ethereum mining. Due to Ethereum's shift to PoS, EIP1559 upgrade, and the application of the MEV mechanism, the reduction in ETH mining income has become a fact, which may prompt ETH miners to turn to ETC.

According to BitInfoCharts statistics, ETC's computing power has indeed increased faster than ETH recently. In the past month, ETC's daily computing power has increased by 188.38%, while ETH's daily computing power has only increased by 17.37% during the same period. However, in terms of daily computing power, ETH's computing power was about 23 times that of ETC on May 6.

However, this still cannot indicate that the rise in ETC price in the short term is driven by the influx of computing power, because the current ETH mining income of a single mining machine of the same model is still significantly higher than the ETC mining income. According to the income data of 39 mining machines that can mine ETH and ETC at the same time collected by f2pool, the ETH mining income of all mining machines is higher than the ETC mining income, and the average daily net income of ETH is 57.9 yuan higher than that of ETC. The mining machine with the largest difference, RTX 3090 8 cards, has an income of 163.2 yuan.

Although in the long run, Ethereum's shift to PoS will inevitably lead to a migration of computing power, the current ETH price is still rising, and the 2.0 process will take a long time. In the short term, Ethereum miners may still continue to obtain excess returns. (PANews)