Ethereum Classic Hashrate Taps All-Time High Nearing 50 TH/s Ahead of The Merge – Mining Bitcoin News

Ethereum Classic’s hashrate surpassed the 40 terahash per second (TH/s) region last Wednesday and four days later, the network’s hashpower reached an all-time high (ATH) at 48.82 TH/s on September 4. Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) is expected to take place eight days from now, and a great deal of hashrate has left the crypto asset’s network during the last few days.

Ethereum Classic’s Hashrate Runs Hot Skyrocketing Toward 50 Terahash

The sibling blockchain of Ethereum, known as Ethereum Classic, has been reaping the benefits of Ethereum’s upcoming upgrade called The Merge. That’s because when The Merge happens, ethereum (ETH) miners will no longer be able to mine ETH as the blockchain will transition to a PoS system.

Four days ago, News reported on ETC’s hashrate rise over the 40 TH/s zone but at that time, Ethereum’s hashrate remained the same. According to the report, hashrate will likely increase in waves. However, since August 31st, 2022 the wave of hashpower has started increasing.

Ethereum Classic Taps All-Time High Nearing 50 TH/s Ahead of The Merge
7-day Ethereum Classic Hrate Chart, September 5, 2022. Recorded by

Metrics recorded by the Ethash mining pool indicates that ETC’s hashrate tapped an ATH at 48.82 TH/s on September 4. Ethereum Classic’s hashrate is 19.86% higher than the ATH recorded on August 31. At that time, Ethereum’s hashrate remained roughly the same but during the course of the last four days, it’s been fluctuating more often and declining at the same time.

Ethereum Classic Taps All-Time High Nearing 50 TH/s Ahead of The Merge recorded a seven-day Ethereum hashrate chart for September 5, 2022.

By the first day of September, ETH’s hashrate according to statistics was coasting along at 917 TH/s. Today, on September 5, Ethereum’s hashrate is running at 926.02 TH/s and Ethereum Classic’s hashpower has a dedicated 46 TH/s. ETC’s hashrate is just a hair down from the 48.82 TH/s ATH and will likely surpass the ATH again this week.

Ethereum Classic Taps All-Time High Nearing 50 TH/s Ahead of The Merge
Merge countdown. It is anticipated that the PoW will transition to PoS on September 13, 2022. Source:

The Merge is expected to happen in just over eight days from now and it’s likely larger waves of hashrate will move from ETH to ETC. However, there is a planned Ethereum PoW fork in the cards called ETHW and the public won’t know how much hashrate this proposed chain will have until the network’s first few days of mining., the biggest ethereum mining site with 260 TH/s dedicated for the chain at the time this article was written, is currently the most popular. Ethermine announced at August’s end that it will stop mining ethereum below PoW and would provide liquid staking services for ETH 2.0. Antpool stated it wouldn’t support a new ETH PoW-chain, but it will bolster ETC. Antpool also revealed an Ethereum Classic firmware upgrade for the company’s E9 Ethash mining rig.

Below Ethermine’s hashrate, in terms of the largest dedicated streams of Ethereum hashpower, are the mining pools F2pool, Hiveon, Poolin,, and The majority of mining pools that mine ethereum, (ETH), also mine ethereum classical. Poolin, which has 9.73 trillion hashrate (TH/s) of ETC-mineralized copper dedicated to it, is the biggest ETC mining pool. F2pool and are followed closely by Poolin, Antpool, Hiveon (Ethermine), Hiveon, Hiveon, Antpool, and

This story contains tags All-time high, Antpool Block Height ETC, ETC Mining ETC, PH/s Terahash ETC, TH/s

What do you think about Ethereum Classic’s hashrate tapping an all-time high on September 4? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has continued to be active ever since. Since 2011, Redman has been an active member of the cryptocurrency community. Redman has contributed more than 5700 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

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