Ethereum Hashrate Hit an All-Time High Despite Strong Market Adjustments

Despite the strong price adjustment, Ethereum miners and ore pools continue to mint coins. Ethereum (ETH) Hashrate has soared to a new high of 14770231.

Last week, after the collapse of Terra blockchain, the broader cryptocurrency market entered a major correction. The market adjustment eroded nearly $250 billion of investors’ wealth in just one week. Ethereum (ETH), the world’s second largest cryptocurrency, is also facing an upsurge of serious market selling. Ether coin (ETH) has fallen more than 16% on the weekly chart, with a price of $2072 and a market value of $250 billion. Despite so many heavy selling and market turmoil, ETH Hashrate hit an all-time high on May 13 last week.

Hashrate peaked at block height 14770231. This shows that Ethereum’s proof of work (POW) miners are working hard before the upcoming merger. On May 13, the Ethernet network Hashrate reached 127 petahash (pH / s) per second. However, since then, it has cooled down and is currently running at 1.2ph/s.

The Hash Value of Ethereum (ETH) Soared

Ethereum’s network Hashrate continues to soar with its continued adoption in defi and NFT. In the past year, Ethernet Hashrate has soared from 0.526ph/s to 1.18ph/s today, an increase of 125%. Similarly, it has jumped a staggering 725% since July 2019. The higher the Hashrate, the higher the security of the blockchain network.

The recent surge in Ethereum Hashrate shows that Ethereum miners are still profitable in the recent downturn. Let’s see how different Ethereum miners and ore pools do it. Innosilicon’s a11 pro, a 1500 megahash per second (MH / s) miner, currently earns $36.66 a day at the current etheric exchange rate. Similarly, a 750mh / s miner can get $17.82 a day, while a 500mh / s miner can get about $11.71 a day. Then there is the Ethereum mine with large-scale computing power.

Ethermine. Org is one of the largest Ethereum mining pools at present, with a computing power of 303.12 Th / s. F2 pool is the second largest Ethereum mine pool, with 155.35 Th / s, and pool occupies the third largest share with 121.69 Th / s. In addition, there are some smaller popular ore pools on the market, such as 2miners com、hiveon. Net and flexpool io。

A total of 80 such pools have dedicated Hashrate to Ethereum’s pow algorithm ethash. It seems that Ethereum miners will continue to dedicate Hashrate until the merge to be upgraded. As of press time, the current transaction price of eth is slightly higher than US $2000, with a market value of US $250 billion.