Is Ethereum Classic [ETC] the next safe haven for ETH miners? Here’s speculating

ambcrypto.com:

The last and final Bellatrix upgrade was pushed earlier this week, as we approach the date of the Ethereum [ETH] Merge. With the Merge putting an end to the ETH mining community, miners are searching for other alternatives to stay in the business. 

Ethereum Classic [ETC], which works on a Proof-of-Work consensus mechanism, witnessed a sudden boom in its total hashrate. ETC’s hashrate grew by more than 50% in just a month, indicating an influx of new miners in the ecosystem ahead of the Merge. 

Source: 2Miners

While some miners prefer the existing alt, some are in favor of a hard fork to create a PoW alternative to Ethereum. 

As quite evident from the hashrate chart, ETC’s popularity is ever increasing within the mining community. Currently, ETC holds the fourth position in the list of the world’s top PoW tokens in terms of market capitalization. However, if trading volume is to be taken into consideration, ETC nabs the third spot on the list, proving the coin’s worldwide popularity. There is a huge possibility of a change in these figures after the Merge, when more miners enter the ETC community. 

Source: CoinMarketCap

Additionally, while the total hashrate increased, ETC’s price also followed a similar route by outperforming several leading cryptos last month. From $14.17 in mid-July, ETC’s price skyrocketed and reached this year’s highest of $44.67 on 13 August. 

Ethereum’s decreasing mining profitability due to the market crash and globally soaring electricity prices are troubling issues. However, these factors along with ETC’s soaring prices provided some relief to miners.

Source: Bitinfocharts

While ETC’s community has grown over the past few months, several miners are reluctant to join the ETC ecosystem as they are favoring