On November 2, 2021, the Ethereum network’s global hashrate
tapped an all-time high (ATH) at 873 terahash per second (TH/s) or close
to 1 petahash. Alongside Ethereum’s ATH, a myriad of hashrates have
returned back to the highs the network’s once held before the crypto
mining crackdown in China.
Hashrates Return Following China’s Crypto Mining Crackdown This Past Summer
Last summer at the end of June, a great number of cryptocurrency
networks saw their hashrates decline significantly, but today many
networks have recovered from the large losses. For instance, the Bitcoin
(BTC) network hashrate plummeted to a low of 69.11 exahash per second (EH/s) on June 28, and today BTC’s
hashrate is coasting along at 169 EH/s. That’s an increase of 144.92%
and a variety of other crypto protocol hashrates have also seen
significant recoveries in terms of global hashrate.
During the same time period the Bitcoin network’s hashrate shuddered last summer, 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) network saw hashrate losses
during the first week of July hitting a low of 2.22 petahash per second
(PH/s) and rose back up to today’s 2.83 PH/s. Dash did jump above 5
PH/s at the end of August but lost some petahash, but the Ethereum (ETH) network, on the other hand, reached an all-time high.
Ethereum Network Hashrate Surpasses All-Time High
Ethereum’s hashrate tapped a high of 873 TH/s which is 0.873 PH/s or close to a single petahash. The ETH
hashrate will likely pass the single petahash metric before the network
does a full transition from proof-of-work (PoW) to proof-of-stake
(PoS). Last year on this day, the Ethereum network was processing
transactions at a speed of 279 TH/s and since then the hashpower has
increased by 212.90%.
Mining ethereum (ETH)
at the time of writing is profitable with an Innosilicon A10 Pro+
ethereum miner or an equivalent with 750 megahash per second (MH/s). An
ether miner of this caliber can produce $61.70 per day in profits with
an electricity consumption rate of $0.12 per kilowatt-hour (kWh) and
today’s ETH exchange rates.
It has been reported that before Ethereum transitions to full PoS,
Bitmain and Innosilicon are planning to launch machines with an output
of 1.5 to 3 gigahash per second (GH/s). At these theoretical hashpower
rates, using $0.12 kWh and today’s ether prices, machines at that
caliber could produce $124 to $254 per day in profit.
source link : https://news.bitcoin.com/crypto-network-hashrates-recover-from-summer-slump-ethereums-hashrate-captures-all-time-high/
