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Ethereum’s Hashrate Surpasses Lifetime High as The Merge Gets Closer

Following the all-time high (ATH) recorded in May, Ethereum’s hashrate has been breaking records again, as it reached 132 petahash per second (PH/s) on Saturday, June 4. Presently, Ethereum’s hashrate is coasting along at 129 PH/s and the network’s top mining pool Ethermine commands 0.24% of the network’s hashrate.

Ethereum’s top mining pool Ethermine commands 296.69 terahash per second (TH/s) and the second-largest pool, F2pool, captures 151.46 TH/s. Ethermine and F2pool are followed by Poolin, Hiveon, and 2miners. Out of the top five ether mining pool metrics, the combined pools produce 0.745% of Ethereum’s global hashrate.

There are a number of crypto networks ETH miners could choose from, including ethereum classic (ETC), ubiq (UBQ), musicoin (MUSIC), callisto (CLO), and quarkchain (QKC). At the time of writing, Ethereum’s consensus algorithm Ethash is the most profitable and it is followed by the consensus algorithm Kadena in terms of profitability.

Further, three other consensus algorithms are more profitable than SHA256 (BTC’s algorithm), which include Scrypt, X11, and Cuckatoo32. Following The Merge, however, the consensus algorithm Ethash will likely drop from being the most profitable algorithm to mine with ethereum (ETH) mining capabilities removed.

What do you think about Ethereum’s hashrate reaching an all-time high on Saturday? Let us know what you think about this subject in the comments section below.


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