# Ethereum Merge Complete, Moves to Proof of Stake

**Published:** 2026-07-04T17:01:14.756Z  
**Topic:** Ethereum%5C  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/1bb61ee1-be3b-4fbd-8509-25ad75bec42f

Ethereum completed the Merge on Sept 15, 2022, shifting to proof-of-stake and cutting energy use by 99.95%. Price remained stable as GPU mining ended.

Ethereum finalized its transition to a proof-of-stake blockchain on September 15, 2022, ending the network's energy-intensive mining era at block 15537393 [1]. The upgrade, known as The Merge, reduces the network's energy consumption by 99.95% and shifts security to validators who must stake 32 ETH to participate [1][2].

| At a glance | |
|---|---|
| Price | Unchanged post-Merge |
| Block | 15537393 |
| Energy Use | Down 99.95% |
| Catalyst | Shift to Proof-of-Stake |

## Technical execution and market reaction
The transition occurred at 1:42:42 a.m. EST with only one missing block reported, a scenario investors described as a best-case outcome [1]. Ether’s price remained unchanged in the hours following the event, though analysts suggest the impact on scalability and transaction fees will unfold over the coming months [1]. While the upgrade does not immediately lower gas fees or increase speed, it sets the technical foundation for future updates aimed at addressing those issues [1]. The move eliminates the need for energy-intensive computers, theoretically making the network more secure and eco-friendly [1].

## GPU mining ends and centralization risks
The shift effectively shut down GPU mining on the Ethereum network, freeing up roughly 900 TH/s of computing power—the equivalent of about 20 million graphics cards—back into the market [2]. Profitability for GPU miners has collapsed; an RTX 3090 previously earning $2.80 daily now generates roughly $0.65, rendering many operations unprofitable against energy costs [2]. Some miners are migrating to alternatives like Ethereum Classic, which doubled its hash rate to 158 TH/s, though increased network difficulty there threatens further profit margins [2]. However, centralization concerns persist as Lido and major exchanges like Coinbase, Kraken, and Binance collectively control roughly 60% of the staked ETH on the new chain [2].

## What to watch
*   Future network upgrades specifically targeting transaction speed and gas fee reductions [1].
*   Secondary market prices for AMD RX 6000 and Nvidia RTX 30-series GPUs as miners offload inventory [2].
*   The distribution of staked ETH among centralized entities like Lido and Coinbase [2].

The Merge marks a fundamental shift in Ethereum’s architecture, eliminating its carbon footprint but introducing new questions about centralization. The network's ability to deliver on promised scalability improvements remains the primary metric for its long-term success.

## Sources
1. Investopedia — [Ethereum Finally Completes The Merge](https://www.investopedia.com/ethereum-completes-the-merge-6666337)
2. Tomshardware — [Ethereum's Merge Completed Without a Hitch, GPUs Are Free](https://www.tomshardware.com/news/ethereum-merge-completed)

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Cite as: TrendWatcher, "Ethereum Merge Complete, Moves to Proof of Stake", https://www.trendwatcher.in/article/1bb61ee1-be3b-4fbd-8509-25ad75bec42f