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Ethereum Classic Hashrate Taps All-Time High Nearing 50 TH/s Ahead of The Merge – Mining Bitcoin News

Ethereum Classic’s hashrate surpassed the 40 terahash per second (TH/s) area final Wednesday and 4 days later, the community’s hashpower reached an all-time excessive (ATH) at 48.82 TH/s on September 4. Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) is predicted to happen eight days from now, and a fantastic deal of hashrate has left the crypto asset’s community throughout the previous few days.

Ethereum Classic’s Hashrate Runs Hot Skyrocketing Toward 50 Terahash

The sibling blockchain of Ethereum, often called Ethereum Classic, has been reaping the advantages of Ethereum’s upcoming improve known as The Merge. That’s as a result of when The Merge occurs, ethereum (ETH) miners will not be capable to mine ETH because the blockchain will transition to a PoS system.

Four days in the past, Bitcoin.com News reported on ETC’s hashrate rise over the 40 TH/s zone however at the moment, Ethereum’s hashrate remained the identical. The report famous that the hashrate would seemingly are available in waves, and for the reason that report on August 31, 2022, the waves of hashpower have began to extend.

Ethereum Classic Taps All-Time High Nearing 50 TH/s Ahead of The Merge
Seven-day Ethereum Classic hashrate chart on September 5, 2022, recorded by 2miners.com.

Metrics recorded by the Ethash mining pool 2miners.com signifies that ETC’s hashrate tapped an ATH at 48.82 TH/s on September 4. Ethereum Classic’s hashrate is nineteen.86% larger than the ATH recorded on August 31. At that point, Ethereum’s hashrate remained roughly the identical however through the course of the final 4 days, it’s been fluctuating extra typically and declining on the similar time.

Ethereum Classic Taps All-Time High Nearing 50 TH/s Ahead of The Merge
Seven-day Ethereum hashrate chart on September 5, 2022, recorded by 2miners.com.

By the primary day of September, ETH’s hashrate in response to 2miners.com statistics was coasting alongside at 917 TH/s. Today, on September 5, Ethereum’s hashrate is working at 926.02 TH/s and Ethereum Classic’s hashpower has a devoted 46 TH/s. ETC’s hashrate is only a hair down from the 48.82 TH/s ATH and can seemingly surpass the ATH once more this week.

Ethereum Classic Taps All-Time High Nearing 50 TH/s Ahead of The Merge
The Merge countdown. The transition from PoW to PoS is predicted to happen on September 13, 2022. Source: wenmerge.com

The Merge is expected to occur in simply over eight days from now and it’s seemingly bigger waves of hashrate will transfer from ETH to ETC. However, there’s a deliberate Ethereum PoW fork within the playing cards known as ETHW and the general public gained’t understand how a lot hashrate this proposed chain could have till the community’s first few days of mining.

At the time of writing, Ethermine.org is the most important ethereum mining pool with 260 TH/s devoted to the chain. Ethermine famous on the finish of August it will cease mining ethereum on the PoW degree and revealed it will supply a liquid staking service for ETH 2.0. Antpool introduced it will not assist a brand new ETH PoW chain and mentioned it will bolster ETC. Antpool additionally revealed an Ethereum Classic firmware improve for the corporate’s E9 Ethash mining rig.

Below Ethermine’s hashrate, in phrases of the most important devoted streams of Ethereum hashpower, are the mining swimming pools F2pool, Hiveon, Poolin, 2miners.com, and Flexpool.io. Most of the mining swimming pools that mine ethereum (ETH) mine ethereum traditional as nicely. Poolin is the most important ETC mining pool on Monday with 9.73 TH/s of hashrate devoted to the chain. Poolin is adopted by F2pool, 2miners.com, Ethermine, Hiveon, and Antpool.

Tags on this story
2miners.com, All time excessive, Antpool, Block Height, ETC, ETC miners, ETC Mining, ETH mining, Ethereum, Ethereum (ETH), Ethereum Classic, ethereum traditional (ETC), Ethermine, F2Pool, Hashpower, Hiveon, MH/s, Miners, mining, Mining ETC, PH/s, Terahash, TH/s

What do you consider Ethereum Classic’s hashrate tapping an all-time excessive on September 4? Let us know what you consider this topic within the feedback part under.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,700 articles for Bitcoin.com News in regards to the disruptive protocols rising right this moment.




Image Credits: Shutterstock, Pixabay, Wiki Commons, wenmerge.com, 2miners.com,

Disclaimer: This article is for informational functions solely. It just isn’t a direct supply or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any injury or loss brought on or alleged to be brought on by or in reference to the use of or reliance on any content material, items or companies talked about on this article.

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