September 28, 2022

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Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High

Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High

20 days ago, Ethereum’s network participants upgraded the protocol and implemented the Arrow Glacier upgrade. The move delayed Ethereum’s “Ice Age” proof-of-stake (PoS) transition for another six months and this week, the network’s hashrate tapped all-time highs. For the first time, statistics within the six-month range indicate Ethereum’s hashrate surpassed 1 petahash per second (PH/s).

Ethereum Hashrate Taps 1 Petahash

Ethereum (ETH) miners are making profits at the end of the year as a 1.5 gigahash per second (GH/s) ASIC device crafted by Innosilicon makes around $84 per day. On December 27, Ethereum’s network hashrate is coasting along at 992.59 terahash per second (TH/s). ETH’s hashrate has been running hot and statistics within the six-month range show the network saw a high of 1.0122 PH/s.

Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High

1 petahash or 1,000 TH/s is a lot more than the 1.51 TH/s dedicated to the Ethereum network on March 21, 2016. That’s an increase of 66,125% since the first recorded hashrate on that day up until today’s Ethereum hashrate. This means it would take 1,000 top-of-the-line 1.5 GH/s machines to process the Ethereum network in the earliest days. With the network close to 1 PH/s today, and if every miner used a 1.5 GH/s device, 1 million machines would be needed to power Ethereum today.

Ethermine, F2pool Command 41% of Ethereum’s Hashrate, Innosilicon A11 Pro the Most Profitable Ether Mining Device

Ethereum’s biggest miner today is ethermine.org with 282.63 TH/s followed by F2pool at 134.81 TH/s. Poolin commands 103.57 TH/s, Hiveon has 93.32 TH/s, and Flexpool has around 46.17 TH/s today. Ethereum’s percentage of hashrate on Nicehash is 46.17 TH/s today, 2miners has 36.86 TH/s, and Antpool is dedicating 33.40 TH/s to the ETH network. Roughly 61 pools are dedicating hash to the Ethereum network on December 27, 2021.

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The most profitable ethereum (ETH) miner today is Innosilicon’s A11 Pro ETH 1,500 megahash (MH/s) unit which makes around $84 per day using $0.12 per kilowatt-hour (kWh) at today’s ETH exchange rate. Innosilicon’s A10 Pro+ ETH 750 (MH/s) miner is the second most profitable ETH miner which gets around $41.78 per day using the same rates. 1.5 GH/s ether mining devices are also more profitable than today’s most profitable bitcoin (BTC) miner.

What do you think about the Ethereum network seeing all-time hashrate highs? Let us know what you think about this subject in the comments section below.