Crypto Network Hashrates Recover From Summer Slump — Ethereum’s Hashrate Captures All-Time High – Bitcoin News


On November 2, 2021, the Ethereum community’s world hashrate tapped an all-time excessive (ATH) at 873 terahash per second (TH/s) or near 1 petahash. Alongside Ethereum’s ATH, a myriad of hashrates have returned again to the highs the community’s as soon as held earlier than the crypto mining crackdown in China.

Hashrates Return Following China’s Crypto Mining Crackdown This Past Summer

Last summer season on the finish of June, a large number of cryptocurrency networks noticed their hashrates decline considerably, however right now many networks have recovered from the big losses. For occasion, the Bitcoin (BTC) community hashrate plummeted to a low of 69.11 exahash per second (EH/s) on June 28, and right now BTC’s hashrate is coasting alongside at 169 EH/s. That’s a rise of 144.92% and quite a lot of different crypto protocol hashrates have additionally seen vital recoveries by way of world hashrate.

During the identical time interval the Bitcoin community’s hashrate shuddered final summer season, Litecoin’s (LTC) hashrate dipped to a low of 167.44 terahash per second (TH/s) and is now at 332 TH/s. The Dash (DASH) community noticed hashrate losses through the first week of July hitting a low of two.22 petahash per second (PH/s) and rose again as much as right now’s 2.83 PH/s. Dash did leap above 5 PH/s on the finish of August however misplaced some petahash, however the Ethereum (ETH) community, however, reached an all-time excessive.

Ethereum Network Hashrate Surpasses All-Time High

Ethereum’s hashrate tapped a excessive of 873 TH/s which is 0.873 PH/s or near a single petahash. The ETH hashrate will possible go the one petahash metric earlier than the community does a full transition from proof-of-work (PoW) to proof-of-stake (PoS). Last yr on at the present time, the Ethereum community was processing transactions at a pace of 279 TH/s and since then the hashpower has elevated by 212.90%.

Crypto Network Hashrates Recover From Summer Slump — Ethereum's Hashrate Captures All-Time High
Ethereum community hashrate (12-month chart setting) on November 2, 2021.

Mining ethereum (ETH) on the time of writing is worthwhile with an Innosilicon A10 Pro+ ethereum miner or an equal with 750 megahash per second (MH/s). An ether miner of this caliber can produce $61.70 per day in earnings with an electrical energy consumption charge of $0.12 per kilowatt-hour (kWh) and right now’s ETH change charges.

It has been reported that earlier than Ethereum transitions to full PoS, Bitmain and Innosilicon are planning to launch machines with an output of 1.5 to three gigahash per second (GH/s). At these theoretical hashpower charges, utilizing $0.12 kWh and right now’s ether costs, machines at that caliber might produce $124 to $254 per day in revenue.

What do you concentrate on the myriad of crypto networks which have seen hashrate will increase over the last six months? What do you concentrate on the Ethereum community’s hashrate tapping an all-time excessive? Let us know what you concentrate on this topic within the feedback part under.

Tags on this story
All time excessive, ASIC miners, Bitcoin, Bitmain, BTC community, sprint, ETH hashrate, ETH Network, Ethereum, ethereum hashrate, Exahash, Gigahash, Hashpower, Hashrate, Hashrate High, Innosilicon, litecoin, megahash, Miners, Petahash, PoS, PoW, Terahash

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