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It’s finally happened: Ethereum’s long-promised plan to phase out GPU mining is complete.

Early Thursday morning, the cryptocurrency fully switched(Opens in a new window) a “Proof of Stake” algorithm, ending Ethereum’s long reliance on a traditional mining model.

The transition, dubbed “The Merge”, means that Ethereum has now reduced its power consumption demands up to 99.95%. This also means that cryptocurrency miners can no longer use their PC graphics cards to generate Ethereum. Instead, they will have to settle for other minable virtual currencies of much lower value or consider selling their GPUs.

Ethereum has been talking for years about phasing out GPU-based mining. But the subject Between came into the limelight last year amid a GPU shortage that saw cryptocurrency miners hoard graphics cards, making it difficult for average consumers to buy them as well.

Since then, the GPU market has turned around, leading to a oversupply situation. Ethereum’s plan to phase out mining by this month has also likely caused miners to stop buying GPUs. You can now find RTX 3090 GPUs priced between $800 and $900 on eBay, about half their original price.

Ethereum’s successful transition to Proof of Stake is certainly good news for anyone worried about miners buying next-gen GPUs. NiceHash, a mining software provider, said(Opens in a new window) Thursday: “The mining community has come to the end of an era. Ethereum was number one ASICs-hard coin that most GPU miners have mined since 2014.”

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That said, some miners are already preparing to switch to two other mineable cryptocurrencies in Ergo and Ravencoin, according to a survey(Opens in a new window) among GPU miners on Facebook. However, these coins are worth $4.90 and $0.06 respectively, making them less profitable than Ethereum, which is currently at $1,583.

NiceHash added, “GPU miners will switch to other algorithms and cause a large influx of hashrate to these projects. As a result, the difficulty will increase many times and the profitability of mining these coins will decrease. Miners will switch between multiple coins quite often and will need to spend a great deal of their (if not free) time making decisions about which coin they are going to mine.” The company also noted that its own software can mine both Ergo and Ravencoin.

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