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The Ethereum cryptocurrency with the upcoming Gray Glacier update on June 29, 2022 shifts the “difficulty bomb” by 100 days. It should make ETH mining unprofitable. This is not the first such shift, it happens with every major network upgrade. The postponement may indicate that preparations for the launch of ETH 2.0 are slower than planned.
Miners and node operators will have to update the software, and no action will be required from those who hold Ethereum in their wallets or on exchange balances. The Binance platform has already supported the network upgrade.
