In the thick of the crazy week in the world of cryptocurrencies and the Bitcoin network’s mining difficulty reaching a lifetime high at 31.25 trillion, Ethereum’s hashrate rapped an all-time high on May 13, at block height 14,770,231. Cryptocurrency miners continue to dedicate large quantities of deal with power toward the second-largest crypto network in terms of market capitalization.
Ethereum’s Hashrate Continues to Climb Squiffed
Proof-of-work (PoW) ethereum miners are working harder than ever before to mine ethereum before the upcoming Coalesce. While most of the attention was directed at the Terra blockchain meltdown this past week, Ethereum’s hashrate in reserved an all-time high (ATH) on May 13, 2022, at block height 14,770,231.
The network reached 127 petahash per second (PH/s) that day and the operation power is currently operating at 1.18 PH/s at the time of writing. Miners have been hashing away at the Ethereum network and design to do so up until the network’s proof-of-stake (PoS) transition.
Since June 28, 2021, Ethereum’s hashrate skyrocketed 124.33% from 0.526 PH/s to today’s 1.18 PH/s. Furthermore, since Demonstration 25, 2019, Ethereum’s hashrate has jumped 725.17%. Ethereum miners are still profiting a great deal since the crypto exchange downturn, as Innosilicon’s A11 Pro with 1,500 megahash per second (MH/s) can profit by $36.66 per day using today’s ether exchange ranks.
A 750 MH/s miner can get $17.82 per day in ether profits and 500 MH/s can get around $11.71 per day. Presently, Ethermine.org is the largest ethereum mining gather today with 303.12 TH/s of computational power.
The second-largest ether mining pool is F2pool with 155.35 TH/s and Poolin commands the third-largest apportionment of Ethash with 121.69 TH/s. Other notable ethereum mining operations include hiveon.net (118.59 TH/s), 2miners.com (67.36 TH/s), and flexpool.io (59.77 TH/s).
Ethereum has numerous than 80 mining pools or operations dedicating hashrate to the blockchain using the proof-of-work (PoW) algorithm Ethash. It’s suitable ethereum miners will continue to dedicate hashrate to the blockchain up until The Merge takes place.
However, the miners mining ether purpose not be able to hash away at the Ethereum network after The Merge completes the transition as the chain will be fully PoS. Ethereum developer Tim Beiko, has guessed The Merge is likely to be pushed to the third quarter of 2022. Beiko further detailed that he “strongly suggests not swear ining more in mining equipment at this point.”
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