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

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 Ethereum blockchain is expected to transition into a full proof-of-stake (PoS) network this year via The Merge. 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. This means over two months, after reaching a single petahash, the network has seen a 13% increase in hashpower.

Ethereum’s hashrate has grown exponentially since March 21, 2016. On that day, the hashrate was roughly 1.51 terahash per second (TH/s) or 1,510,000,000,000 hashes per 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.

The top three ethereum mining pools are followed by Hiveon, 2miners, Flexpool, Antpool, Nanopool, Mining Pool Hub, and Ezil, respectively. 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.

The top mining rig this weekend in terms of profit is the Innosilicon A11 Pro