- Ethereum’s hashrate has increased by 124.33% since June 28, 2021.
- More than 80 mining pools and organizations use the Ethash proof-of-work algorithm.
Ahead of the impending Merge, Ethereum miners are pushing themselves farther and more than before. As much attention was paid to Terra, Ethereum’s hashrate reached an all-time high (ATH) on May 13, 2022, at block height 14,770,231 (block number 14,770,231).
After reaching 127 petahashes per second (PH/s), the network operates at a processing power of 1.18 PH/s. Until the Ethereum network transitions to proof-of-stake (PoS), miners will continue to operate on the network.
Relief Amid Recent Market Slump
As of the hashrate of 1.18 PH/s, Ethereum’s hashrate has increased by 124.33% since June 28, 2021. In addition, since March 25, 2019, the hashrate of Ethereum has risen by 725.17 percent. Innosilicon’s A11 Pro with 1,500 megahash per second (MH/s) may make $36.66 per day earning from today’s ether exchange rates, despite the recent crypto market dip.
Eth profit is $17.82 for the 750 MH/s miners and $11.71 for the 500-MH/s miner per day. With 303.12 TH/s of processing power, Ethermine.org is now the giant Ethereum mining pool. More than 80 mining pools and organizations use the Ethash proof-of-work algorithm to provide hashrate to the Ethereum blockchain. Even after the Merge, it’s probable that Ethereum miners will keep putting their resources toward the blockchain indefinitely.
However, when The Merge completes the transition, ether miners will no longer be able to contribute to the Ethereum network since the chain will be 100% PoS. The Merge, according to Ethereum developer Tim Beiko, may be delayed until the third quarter of 2022. Beiko said he “strongly suggests not investing more in mining equipment at this point.”
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