Ethereum, the stupidly popular cryptocurrency is moving from a Proof-of-Work model which needs powerful machines to a Proof-of-Stake method which will cut actual electrical power use dramatically and need less computing power to work with.
Why is this important? Well, there's a reason why NVIDIA have been making steps to reduce the Ethereum hash rate with new GPUs. Miners end up buying them, lots of them and it has been one of the primary causes of the ridiculous demand issues we've seen that end up stopping us all buying a new graphics card. Not only that, but it's pushed up prices of existing cards too.
In the official announcement, Ethereum developer Carl Beekhuizen explained the switch over will happen in "the upcoming months" and Ethereum will end up using "at least ~99.95% less energy post merge". So it's good for the world as a whole because crypto like Ethereum uses a ridiculous amount of energy right now. This will move Ethereum from requiring the power of "a medium-sized country" down to "that of a small town (around 2100 American homes)" and as this newer system scaled up it will help "further decrease the energy consumed per-transaction by leveraging economies of scale".
The important bit for us though? The computing power needed in Proof-of-Stake for users is quite low, so there's no need to buy up big lots of GPUs.
So perhaps by the end of this year, we might finally start to see the reduced demand on GPUs for mining thanks to steps being made like this. I think we can all agree it's needed.