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

Amid the brainsick week successful the satellite of cryptocurrencies and the Bitcoin network’s mining trouble reaching a beingness precocious astatine 31.25 trillion, Ethereum’s hashrate tapped an all-time precocious connected May 13, astatine artifact tallness 14,770,231. Cryptocurrency miners proceed to dedicate ample quantities of processing powerfulness toward the second-largest crypto web successful presumption of marketplace capitalization.

Ethereum’s Hashrate Continues to Climb Higher

Proof-of-work (PoW) ethereum miners are moving harder than ever earlier to excavation ethereum earlier the upcoming Merge. While astir of the attraction was directed astatine the Terra blockchain meltdown this past week, Ethereum’s hashrate tapped an all-time precocious (ATH) connected May 13, 2022, astatine artifact tallness 14,770,231.

Ethereum hashrate connected May 15, 2022.

The web reached 127 petahash per 2nd (PH/s) that time and the processing powerfulness is presently operating astatine 1.18 PH/s astatine the clip of writing. Miners person been hashing distant astatine the Ethereum web and program to bash truthful 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 March 25, 2019, Ethereum’s hashrate has jumped 725.17%. Ethereum miners are inactive profiting a large woody since the crypto marketplace downturn, arsenic Innosilicon’s A11 Pro with 1,500 megahash per 2nd (MH/s) tin profit by $36.66 per time utilizing today’s ether speech rates.

A 750 MH/s miner tin get $17.82 per time successful ether profits and 500 MH/s tin get astir $11.71 per day. Presently, Ethermine.org is the largest ethereum mining excavation contiguous with 303.12 TH/s of computational power.

The second-largest ether mining excavation is F2pool with 155.35 TH/s and Poolin commands the third-largest stock of Ethash with 121.69 TH/s. Other notable ethereum mining operations see hiveon.net (118.59 TH/s), 2miners.com (67.36 TH/s), and flexpool.io (59.77 TH/s).

Ethereum has much than 80 mining pools oregon operations dedicating hashrate to the blockchain utilizing the proof-of-work (PoW) algorithm Ethash. It’s apt ethereum miners volition proceed to dedicate hashrate to the blockchain up until The Merge takes place.

However, the miners mining ether volition not beryllium capable to hash distant astatine the Ethereum web aft The Merge completes the modulation arsenic the concatenation volition beryllium afloat PoS. Ethereum developer Tim Beiko, has said The Merge is apt to beryllium pushed to the 3rd 4th of 2022. Beiko further elaborate that helium “strongly suggests not investing much successful mining instrumentality astatine this point.”

What bash you deliberation astir Ethereum’s hashrate reaching an all-time precocious connected May 13, 2022? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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