Ethereum’s Hashrate Taps an All-Time High as Miners Race to Mint ETH Before The Merge – Mining Bitcoin News

While the Ethereum community is getting prepared for The Merge and the protocol’s transition to a full proof-of-stake (PoS) system, the network’s hashrate reached an all-time high (ATH) on April 7, 2022. On Thursday, Ethereum’s hashrate reached a high of 1.131 petahash per second (PH/s), jumping 13% in 89 days.

Ethereum’s Hashrate Climbs 13% Higher Since the First Week of January

The Merge is expected to see the Ethereum blockchain transform into a fully proof-of-stake network (PoS). It’s unclear how smoothly that transition will go and for now, ethereum (ETH) miners are minting blocks as fast as they can.

The three-month hashrate chart via coinwarz.com shows that Ethereum’s hashrate captured a high of 1.131 petahash per second (PH/s) on April 7, 2022. On January 9, 2022, Ethereum’s network hashrate rose above the 1.032 PH/s zone. After reaching one petahash in January 2022, Ethereum’s network hashrate has increased 13% over the previous two months.

Ethereum’s hashrate has grown exponentially since March 21, 2016. The hashrate at that time was 1.51 Terahash per Second (TH/s), or 1,510,000,000,000 hashes/second (H/s). Today’s Ethereum hashrate at 1.131 PH/s, or 1,131,000,000,000,000 H/s, is 74,800% higher than it was six years ago.

In recent times, Ethereum’s daily mining rewards have outpaced Bitcoin’s 24-hour mining rewards as well. On April 9, 2022, Ethereum’s daily mining revenue of $88.8 million is 16% more than Bitcoin’s $76.4 million in daily rewards.

Ethermine.org Commands Top Pool Position, Innosilicon’s A11 Is Top Ether Mining Rig

On Saturday morning (ET), the mining pool Ethermine.org is the network’s top mining operation with 281.29 TH/s of hashpower. F2pool is the second-largest ethereum (ETH) mining pool with 146.15 TH/s, and is followed by Poolin’s hashrate of 114.33 TH/s.

Hiveon is followed by Flexpool and Antpool as the most prominent ethereum-mining pools. The top ether mining operation Ethermine.org commands 24.87% of the network’s hashrate, capturing 290 blocks of the last 1,000 ETH blocks found.

Innosilicon A11Pro Pro ETH miner is currently the best-performing miner this weekend, producing 1,500 megahashes per second (MH/s) and 1.5 gigahash each second (GH/s). With the current Ethereum exchange rates and $0.12/kilowatt-hour electricity consumption, the A11 Pro can produce $69.32 daily in profits. Innosilicon A10 pro+ ETH miner with 750 MH/s can make around $34.15 daily in ether profits.

Bitmain may launch the E9 Antminer with 3 GH/s power, according to some rumors. Although E9 rumors are well-known, the machine has yet to be seen in action. It would make $144.81 per hour if the E9 machine existed.

What do you think about Ethereum’s hashrate tapping an all-time high as miners race to find blocks before The Merge takes place? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for Bitcoin.com News, with over 5,000 articles on disruptive protocols.