Ethereum Hashrate Taps an All-Time High Amid This Week’s Crypto Market Meltdown – Mining Bitcoin News

Amid the loopy week on this planet of cryptocurrencies and the Bitcoin community’s mining issue reaching a lifetime excessive at 31.25 trillion, Ethereum’s hashrate tapped an all-time excessive on Could 13, at block peak 14,770,231. Cryptocurrency miners proceed to dedicate massive portions of processing energy towards the second-largest crypto community by way of market capitalization.

Ethereum’s Hashrate Continues to Climb Larger

Proof-of-work (PoW) ethereum miners are working tougher than ever earlier than to mine ethereum earlier than the upcoming Merge. Whereas many of the consideration was directed on the Terra blockchain meltdown this previous week, Ethereum’s hashrate tapped an all-time excessive (ATH) on Could 13, 2022, at block peak 14,770,231.

Ethereum Hashrate Taps an All-Time High Amid This Week's Crypto Market Meltdown
Ethereum hashrate on Could 15, 2022.

The community reached 127 petahash per second (PH/s) that day and the processing energy is at the moment working at 1.18 PH/s on the time of writing. Miners have been hashing away on the Ethereum community and plan to take action up till the community’s proof-of-stake (PoS) transition.

Since June 28, 2021, Ethereum’s hashrate skyrocketed 124.33% from 0.526 PH/s to at the moment’s 1.18 PH/s. Moreover, since March 25, 2019, Ethereum’s hashrate has jumped 725.17%. Ethereum miners are nonetheless profiting a fantastic deal for the reason that crypto market downturn, as Innosilicon’s A11 Professional with 1,500 megahash per second (MH/s) can revenue by $36.66 per day utilizing at the moment’s ether alternate charges.

A 750 MH/s miner can get $17.82 per day in ether income and 500 MH/s can get round $11.71 per day. Presently, is the most important ethereum mining pool at the moment with 303.12 TH/s of computational energy.

The second-largest ether mining pool is F2pool with 155.35 TH/s and Poolin instructions the third-largest share of Ethash with 121.69 TH/s. Different notable ethereum mining operations embrace hiveon.web (118.59 TH/s), (67.36 TH/s), and (59.77 TH/s).

Ethereum has greater than 80 mining swimming pools or operations dedicating hashrate to the blockchain utilizing the proof-of-work (PoW) algorithm Ethash. It’s possible ethereum miners will proceed to dedicate hashrate to the blockchain up till The Merge takes place.

Nevertheless, the miners mining ether won’t be able to hash away on the Ethereum community after The Merge completes the transition because the chain will likely be totally PoS. Ethereum developer Tim Beiko, has mentioned The Merge is prone to be pushed to the third quarter of 2022. Beiko additional detailed that he “strongly suggests not investing extra in mining gear at this level.”

Tags on this story, ETH, Ethash, ethereum hashrate, Ethereum mining, ethereum mining operations, Ethereum Community,, F2Pool,, hiveon.web, megahash, mining, Petahash, Poolin, PoS, PoW, Terahash, The Merge, Tim Beiko

What do you consider Ethereum’s hashrate reaching an all-time excessive on Could 13, 2022? Tell us what you consider this topic within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Information concerning the disruptive protocols rising at the moment.

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