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 Hashrate Climbs 13% Since First Week of January
The Ethereum blockchain is set to transition to a full proof-of-stake (PoS) network this year through The Merge. It’s unclear how smooth this transition will go and for now, Ethereum (ETH) miners are hitting 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 hashrate has increased exponentially since March 21, 2016. On that day, the hashrate was around 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 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 the top position in the pool, Innosilicon’s A11 is the best ether mining rig
On Saturday morning (ET), the Ethermine.org mining pool is the main mining operation on the network with 281.29 TH/s of hash power. 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 best mining rig this weekend in terms of profit is the Innosilicon A11 Pro ETH miner with 1,500 megahash per second (MH/s), or 1.5 gigahash per second (GH/s). The A11 Pro, using current ether exchange rates and $0.12 per kilowatt-hour of electricity, will produce $69.32 per day in profit. Meanwhile, the Innosilicon A10 Pro + ETH miner with 750 MH/s can get around $34.15 per day in Ether profits.
Rumor has it that Bitmain will launch an Antminer called the E9 with 3 GH/s in power. However, E9 rumors have been discussed for a long time and the alleged machine has not seen the light of day. If it were to exist, the 3 GH/s of eth hashpower would produce $144.81 per day in profits.
