Warning: Contains SPOILERS for Rings of Power Season 2
When Rings of Power At the end of the second season, Angya, the Ring of Power originally held by Durin III, is displayed near a gathering of dwarves, hinting at who will wield its power in the third season. Durin III died fighting the Balrog of Khazad-dum (who would come to be known as Durin's Bane), leaving ownership of his ring and the reign of Khazad-dum in doubt, especially with rumors that Durin IV's brother was hoping to inherit the throne.
Those who know about Tolkien's applications at the end Lord of the Rings know that Angya will continue to belong to those who bear the name of Durin until Durin VI. Angya then passes Durin's line to Thrain II and it is stolen by Azog the Defiler, as seen in Peter Jackson's film. The Hobbit: An Unexpected Journey. This story and the ending Rings of Power Season two hints at who will be wearing the ring in season three.
The ending of the second season of "The Ring of Power" hints that Durin IV will wear his father's ring
Angya is depicted on a stone pedestal along with the other six rings of the Dwarves in the sight of Prince Durin IV, Princess Disa and Narvi. Durin IV looks at the rings, pondering the many trials ahead. Durin IV will have to defend his kingdom, fulfill his father's promise to scatter the remaining six rings among the Dwarf lords, and confront his brother who may try to claim the throne. Such accumulating pressure suggests that Durin IV carries Angya in the third season of the series. Rings of Power.
Tolkien explains that the Rings of Power could never gain complete control over the Dwarves, who were created to resist domination. The Rings of Power fueled their thirst for treasure. Durin VI continues to mine mithril until he is killed by the Balrog, as is his son Nain I. A significant amount of mithril is shown in Khazad-dum in Rings of Power and generations between Durin IV and Nain, it is reasonable to believe that Durin IV would take the ring for himself.
Why Durin IV might be tempted to wear the Ring of Power in Season 3
Many temptations could have led Durin IV to possess the Ring of Power. War is costly, and defending Khazad-dum from Sauron's newly acquired orc army will require a lot of wealth and assistance. Tolkien makes it clear that Khazad-Dum is opposed to Suaron in the Third Age, and revelations of the ring may be one means of obtaining the necessary profit.
Durin IV will also have to either give the remaining six rings owed by his father to the Dwarven lords (rings that he knows could destroy his people) or return tribute to them. Since Durin IV is able to escape the great veins of Mithril guarded by the Balrog, it is possible that he is in possession of his father's ring in order to find alternative ploys to send to the Dwarf lords before he considers giving them other rings. And although the ring may change him, he can believe that his death is worth saving the entire race of dwarves.
Durin IV also faces the threat of his brother usurping the throne. To maintain his position in Khazad-dum, he will want to demonstrate the level of power and profit inherent in his father. Durin IV will need to be seen as someone who can amass wealth and speak to the mountain in a way that is not possible without the Ring of Power.
What Durin IV wearing his father's ring will mean for the Dwarves and Khazad-dum
Tolkien does not know what will happen after the Elven smiths hand Angia over to Durin III. He was not shown or spoken of until Azog took him and gave him to Sauron, leaving enough room for Rings of Power play. Durin IV wearing his father's ring would undoubtedly bring great wealth to Khazad-dum, but it would cost them their relationship with the rest of Middle-earth. Insatiable greed takes hold of Durin IV as he digs deeper into the mines, paving the way for the devastating release of Durin's Curse.
Connected
It is unlikely that Sauron would be able to control Durin IV in any way, as the rings given to the Dwarves had no such power over them. But Durin IV, driven by his greed, enhanced by the rings, may try to expand Middle-earth for all the Dwarves, which will lead to the scattering of other rings, which at some point will still be possessed by the Dwarven lords. All these events would lead to a rift between Middle-earth and the Dwarves.
Rings of Power reveals that Durin IV will wield Angia, and if the temptation to seize its power is strong enough, he will continue the path laid out by his father. If Durin IV follows this path, it will continue the grueling fall of Khazad-dum and his people.