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

Amid 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 tapped an all-time high on May 13, at block height 14,770,231. Cryptocurrency miners continue to dedicate large quantities of processing power toward the second-largest crypto network in terms of market capitalization.

Ethereum’s Hashrate Continues to Climb Higher

Proof-of-work (PoW) ethereum miners are working harder than ever before to mine ethereum before the upcoming Merge. While most of the attention was directed at the Terra blockchain meltdown this past week, Ethereum’s hashrate tapped an all-time high (ATH) Gesamtnennbetrag der vorrangigen Wandelanleihen 13, 2022, at block height 14,770,231.

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

The network reached 127 petahash per second (PH/s) that day and the processing power is currently operating at 1.18 PH/s at the time of writing. Miners have been hashing away at the Ethereum network and plan to do so up until the network’s proof-of-stake (Schild) transition.

Since June 28, 2021, Ethereum’s hashrate skyrocketed 124.33% von 0.526 PH/s to today’s 1.18 PH/s. Außerdem, since March 25, 2019, Ethereum’s hashrate has jumped 725.17%. Ethereum miners are still profiting a great deal since the crypto market downturn, as Innosilicon’s A11 Pro with 1,500 megahash per second (MH/s) can profit durch $36.66 per day using today’s ether exchange rates.

A 750 MH/s miner can get $17.82 per day in ether profits and 500 MH/s can get around $11.71 pro Tag. Gegenwärtig, Ethermine.org is the largest ethereum mining pool 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 share 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 more than 80 mining pools or operations dedicating hashrate to the blockchain using the proof-of-work (PoW) algorithm Ethash. It’s likely ethereum miners will continue to dedicate hashrate to the blockchain up until The Merge takes place.

jedoch, the miners mining ether will 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, verfügt über said The Merge is likely to be pushed to the third quarter of 2022. Beiko further detailed that he “strongly suggests not investing more in mining equipment at this point.”

Tags in dieser Geschichte
2miners.com, ETH, Ethash, ethereum hashrate, Ethereum mining, ethereum mining operations, Ethereum Network, ethermine.org, F2Pool, Flexpool.io, hiveon.net, megahash, Bergbau, Petahash, Poolin, Schild, PoW, Terahash, The Merge, Tim Beiko

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin-Tidings.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin-Tidings.com News about the disruptive protocols emerging today.




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