• Ethereum’s Hashrate Reaches All-Time High as Miners Race to Mint ETH Before The Merge

  • While the Ethereum community prepares for The Merge and the protocol’s move to complete proof-of-stake (PoS), the network’s hashrate reached an all-time high (ATH) on April 7, 2022. On Thursday, Ethereum’s hashrate peaked at 1.131 petahash per second (PH/s), a 13 percent increase in 89 days.

    Since the first week of January, Ethereum’s hashrate has increased by 13%.

    The Merge is planned to transform the Ethereum blockchain into a full proof-of-stake (PoS) network this year. It’s uncertain how easily that transition will occur, therefore ethereum (ETH) miners are minting blocks as quickly as they can for the time being.

    According to coinwarz.com’s three-month hashrate data, Ethereum’s hashrate peaked at 1.131 petahash per second (PH/s) on April 7, 2022. On January 9, 2022, Ethereum’s network hashrate surpassed 1.032 PH/s. This means that in the two months since attaining a single petahash, the network’s hashpower has increased by 13%.

    Since March 21, 2016, the hashrate of Ethereum has grown at an exponential rate. On that particular day, the hashrate was around 1.51 terahash per second (TH/s), or 1,510,000,000,000 hashes per second (H/s). The hashrate of Ethereum now is 1.131 PH/s, or 1,131,000,000,000,000 H/s, which is 74,800% higher than it was six years ago.

    Recently, Ethereum’s daily mining payouts have surpassed Bitcoin’s 24-hour mining rewards. On April 9, 2022, Ethereum’s daily mining earnings of $88.8 million is 16 percent higher than Bitcoin’s daily rewards of $76.4 million.

    Ethermine.org is the top pool, and Innosilicon’s A11 is the top ether mining rig.

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

    Hiveon, 2miners, Flexpool, Antpool, Nanopool, Mining Pool Hub, and Ezil are the top three ethereum mining pools, followed by Hiveon, 2miners, Flexpool, Antpool, Nanopool, Mining Pool Hub, and Ezil, in that order. Ethermine.org, the leading ether mining operation, controls 24.87 percent of the network’s hashrate, grabbing 290 of the past 1,000 ETH blocks discovered.

    The Innosilicon A11 Pro ETH miner with 1,500 megahash per second (MH/s) or 1.5 gigahash per second (GH/s) is the most profitable mining rig this weekend. Using current ether exchange rates and $0.12 per kilowatt-hour of power, the A11 Pro will earn $69.32 every day. Meanwhile, the Innosilicon A10 Pro+ ETH miner with 750 MH/s can earn roughly $34.15 in ether revenues each day.

    According to rumors, Bitmain will release an Antminer called the E9 with a power output of 3 GH/s. However, E9 rumors have been circulating for quite some time, and the rumored machine has yet to see the light of day. If it existed, the 3 GH/s of eth hashpower would generate $144.81 in earnings every day.

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