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Bitcoin’s Mining Difficulty Taps All-Time High — 220 Exahash Of Hashpower Remains Strong

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Bitcoin’s Mining Difficulty Taps All-Time High — 220 Exahash Of Hashpower Remains Strong

Bitcoin’s mining difficulty reached a new all-time high at block height 753,984 from 30.97 trillion hashes to 32.05 trillion hashes. After two difficulty increases during the past month, the network’s mining difficulty jumped another ​​3.45% higher on September 13.

Bitcoin’s Difficulty Reaches 32 Trillion

The leading cryptocurrency by market capitalization, bitcoin (BTC), is now a lot more difficult to mine. In fact, on Tuesday, September 13, 2022, the network difficulty tapped an all-time high at 32.05 trillion. Roughly two weeks or 2,016 blocks ago, the difficulty printed the second-largest increase in 2022 as it increased by 9.26%.

Bitcoin’s difficulty has never been as difficult as it is today, as miners now need to calculate over 32 trillion hashes to find a new BTC block.

Two weeks or 2,016 blocks before the last change, the difficulty jumped slightly by 0.63%. Following the increase today, at block height 753,984, it has never been more difficult to find a bitcoin (BTC) block reward. Furthermore, BTC’s U.S. dollar value dropped over 9% on Tuesday afternoon (ET), following the recently published U.S. CPI report.

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On September 13, 2022, at block height 753,984, Bitcoin’s difficulty reached an all-time high.

Despite the price drop and recent difficulty rise, BTC’s hashrate has remained above the 200 exahash per second (EH/s) range and at the time of writing, it’s running at 227.07 EH/s. During the past 24 hours, Foundry USA has been the network’s top pool with 26.85% of the global hashrate.

Foundry is followed by F2pool with 15.4% of BTC’s hashpower, and Binance Pool with 14.77% of the global hashrate. Binance Pool is followed by Antpool (13.42%) and Viabtc (10.74%) respectively. 149 blocks were mined in the last 24 hours, and Foundry USA discovered 40 of those blocks, while F2pool captured 23 blocks.

Currently, BTC block time is 9:17 minutes per block, and there’s 2,011 blocks left to mine until the next difficulty change expected on September 27, 2022. At current block interval speeds and the realized hashrate today, the network could see a negative 3.7% decrease.

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All time high, Antpool, ATH, Binance Pool, bitcoin difficulty, block interval, Block time, Blocks, BTC difficulty, difficulty ATH, difficulty increase, difficulty rise, F2Pool, Foundry USA, Harder, mining, Mining Difficulty, Mining PoW, PoW Mining, Realized Hashrate, ViaBTC

What do you think about the recent difficulty change and the difficulty tapping an all-time high on September 13, 2022? Let us know what you think about this subject in the comments section below.

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ethereum Classic Hashrate Taps All-Time High Nearing 50 TH/s Ahead Of The Merge

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Ethereum Classic Hashrate Taps All-Time High Nearing 50 TH/s Ahead Of The Merge

Ethereum Classic’s hashrate surpassed the 40 terahash per second (TH/s) region last Wednesday and four days later, the network’s hashpower reached an all-time high (ATH) at 48.82 TH/s on September 4. Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) is expected to take place eight days from now, and a great deal of hashrate has left the crypto asset’s network during the last few days.

Ethereum Classic’s Hashrate Runs Hot Skyrocketing Toward 50 Terahash

The sibling blockchain of Ethereum, known as Ethereum Classic, has been reaping the benefits of Ethereum’s upcoming upgrade called The Merge. That’s because when The Merge happens, ethereum (ETH) miners will no longer be able to mine ETH as the blockchain will transition to a PoS system.

Four days ago, Bitcoin.com News reported on ETC’s hashrate rise over the 40 TH/s zone but at that time, Ethereum’s hashrate remained the same. The report noted that the hashrate would likely come in waves, and since the report on August 31, 2022, the waves of hashpower have started to increase.

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Seven-day Ethereum Classic hashrate chart on September 5, 2022, recorded by 2miners.com.

Metrics recorded by the Ethash mining pool 2miners.com indicates that ETC’s hashrate tapped an ATH at 48.82 TH/s on September 4. Ethereum Classic’s hashrate is 19.86% higher than the ATH recorded on August 31. At that time, Ethereum’s hashrate remained roughly the same but during the course of the last four days, it’s been fluctuating more often and declining at the same time.

Seven-day Ethereum hashrate chart on September 5, 2022, recorded by 2miners.com.

By the first day of September, ETH’s hashrate according to 2miners.com statistics was coasting along at 917 TH/s. Today, on September 5, Ethereum’s hashrate is running at 926.02 TH/s and Ethereum Classic’s hashpower has a dedicated 46 TH/s. ETC’s hashrate is just a hair down from the 48.82 TH/s ATH and will likely surpass the ATH again this week.

The Merge countdown. The transition from PoW to PoS is expected to occur on September 13, 2022. Source: wenmerge.com

The Merge is expected to happen in just over eight days from now and it’s likely larger waves of hashrate will move from ETH to ETC. However, there is a planned Ethereum PoW fork in the cards called ETHW and the public won’t know how much hashrate this proposed chain will have until the network’s first few days of mining.

At the time of writing, Ethermine.org is the largest ethereum mining pool with 260 TH/s dedicated to the chain. Ethermine noted at the end of August it would stop mining ethereum at the PoW level and revealed it would offer a liquid staking service for ETH 2.0. Antpool announced it would not support a new ETH PoW chain and said it would bolster ETC. Antpool also revealed an Ethereum Classic firmware upgrade for the company’s E9 Ethash mining rig.

Below Ethermine’s hashrate, in terms of the largest dedicated streams of Ethereum hashpower, are the mining pools F2pool, Hiveon, Poolin, 2miners.com, and Flexpool.io. Most of the mining pools that mine ethereum (ETH) mine ethereum classic as well. Poolin is the largest ETC mining pool on Monday with 9.73 TH/s of hashrate dedicated to the chain. Poolin is followed by F2pool, 2miners.com, Ethermine, Hiveon, and Antpool.

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2miners.com, All time high, Antpool, Block Height, ETC, ETC miners, ETC Mining, ETH mining, Ethereum, Ethereum (ETH), Ethereum Classic, ethereum classic (ETC), Ethermine, F2Pool, Hashpower, Hiveon, MH/s, Miners, mining, Mining ETC, PH/s, Terahash, TH/s

What do you think about Ethereum Classic’s hashrate tapping an all-time high on September 4? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

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

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ethereum Classic Hashrate Taps Another All-Time High, ETH Hashpower Remains Unchanged

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Ethereum Classic Hashrate Taps Another All-Time High, ETH Hashpower Remains Unchanged

On August 31, 2022, Ethereum Classic’s hashrate reached another all-time high (ATH) this year at block height 15,850,811. Ethereum Classic’s global hashpower surpassed the 40 terahash per second (TH/s) region on Wednesday. Despite the fact that the network’s hashrate has risen a great deal, Ethereum’s hashrate remains relatively unchanged with just over 1,000 TH/s dedicated to the network.

66 Mining Pools Dedicate More Than 1,000 Terahash to Ethereum, Network’s Hashrate Remains Steady and Unchanged

At the time of writing, Ethereum’s total difficulty is 12374533505752422, and when the total difficulty reaches 58750000000000000000 in roughly 13 days, the network will transition from a proof-of-work (PoW) network to a proof-of-stake (PoS) blockchain via The Merge.

When the transition is codified into the codebase, ethereum (ETH) miners will no longer be able to mine the digital currency. There are roughly 66 ether mining pools currently dedicating Ethash hashrate toward Ethereum, and they represent 1.04 petahash per second (PH/s) or 1,040 (TH/s) of hashpower.

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Ethereum (ETH) hashrate on September 1, 2022.

When the change occurs, Ethash miners will have to mine a different network, and they can choose blockchains such as Ethereum Classic, Ravencoin, Beam, and Ergo. It’s been widely reported during the last two months that many believe the Ethereum Classic (ETC) network will reap the rewards of ethereum miners migrating to another chain.

Ethereum Classic (ETC) hashrate on September 1, 2022.

In fact, ETC has seen an increase in recent times, and on August 31, 2022, the network hashrate reached an ATH tapping 40.73 TH/s at block height 15,850,811. However, while Ethereum’s hashrate has dropped some at the end of June, it has remained roughly the same since July 1, 2022.

Ethereum Classic May See a Massive Wave of Dedicated Hashpower Within the Next Two Weeks

Ethereum’s hashrate recorded a slight rise during the last 62 days, and the added terahash is the same amount of hashpower that secures the entire ETC chain. Ravencoin, Beam, and Ergo hashrates may have recorded slight upticks in terms of hashpower, but nothing compared to the rise ETC recorded since the first week of August 2022.

ETC’s hashrate has reached record all-time high achievements multiple times this week, and during the last 24 hours. With statistics showing that ethereum miners will likely continue mining ether all the way until the end (The Merge), Ethash-consensus chains like ETC may see a massive wave of dedicated hashpower within the next two weeks.

A number of large mining pools including Ethermine and Antpool have explained that they planned to stop mining ether in a PoW fashion and will support the ETH 2.0 transition. Furthermore, Ethermine announced the launch of a liquid staking service dedicated to the ETH 2.0 chain, and Antpool once said it was dedicating $10 million in resources toward the Ethereum Classic ecosystem.

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Both mining pools (Ethermine, Antpool) and many others already mine ETC and are suggesting that pool participants choose another Ethash-consensus chain like ETC, RVN, BEAM, or ERGO when The Merge takes place. When the hashrate wave comes is anyone’s guess, as it is extremely profitable to mine ethereum (ETH) in comparison to mining coins that leverage other consensus algorithms.

Statistics on Thursday, September 1, 2022, at 11:00 a.m. (EST) indicate that Bitmain’s new Ethash miner the Antminer E9 with 2,400 megahash per second (MH/s) can get an estimated $47.72 per day in profits. An Innosilicon A11 with 1,500 MH/s can get an estimated $26.52 per day in ether profits.

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All time high, Antpool, Block Height, ETC, ETC Mining, ETH mining, Ethereum, Ethereum (ETH), Ethereum Classic, ethereum classic (ETC), Ethermine, Hashpower, MH/s, Miners, mining, Mining ETC, PH/s, Terahash, TH/s

What do you think about Ethereum Classic’s hashrate tapping an all-time high on August 31? When do you expect one of these Ethash consensus networks to get a wave of hashpower? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

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As The Merge Gets Closer, Ethereum’s Hashrate Dropped Over 26% Since The Network’s All-Time High 45 Days Ago

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As The Merge Gets Closer, Ethereum’s Hashrate Dropped Over 26% Since The Network’s All-Time High 45 Days Ago

While a tentative date for The Merge has been pencilled in by developers, and even though it’s quite possible it could be delayed once again, Ethereum’s hashrate has dropped 26.26% during the last 45 days. 18.21% of the hashrate loss took place after June 30, as Ethereum’s global hashrate slipped from 1,190 terahash per second (TH/s) to today’s 973.27 TH/s. While Ethereum’s hashrate decreased, Ethereum Classic’s hashrate spiked 12.07% higher during the last two days, but the added terahash was way less than the hashrate that left Ethereum during the last few weeks.

Ethereum’s Hashrate and Mining Revenue Slides, 217 TH/s Lost Since Ethereum’s All-Time Hashrate High

A few days ago, on July 16, 2022, Bitcoin.com News reported that while the timeline is not final, The Merge could be implemented on September 19, 2022. The software developer Superphiz shared a “planning timeline” last week, that set a provisional date for Ethereum to transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus model.

The developer stressed that the date was not finalized but he also remarked that it was “extremely exciting” to see the transition coming together. The proposed date for The Merge fueled ethereum’s (ETH) value against the U.S. dollar, but it also increased ether gas fees by a dollar or more per transfer, at a time when transaction fees have been low.

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Interestingly, ETH’s hashrate has been dropping too, just as The Merge’s ostensible date was pencilled in by ETH developers last week. Overall, Ethereum’s computational power started to slide 44 days ago, after it reached an all-time high (ATH) at 1,320 TH/s or 1.32 petahash per second (PH/s) on June 4, at block height 14,902,285.

Since then, ETH’s global hashrate has been reduced by 26.26%, but the biggest drop during the last six months occurred on June 30. Ethereum’s hashrate dropped 18.21% from 1,190 TH/s to the 973 TH/s range, or under the 1 PH/s range. When Ethereum finally transitions from PoW to PoS, PoW miners will have to dedicate Ethash hashpower elsewhere or stop mining.

It is assumed that a majority of ETH’s PoW miners will simply mine ethereum classic (ETC), as the two networks share the same Ethash algorithm. One could assume that ETC’s recent 12.07% hashrate increase stemmed from ETH miners, however, while ETH lost 217 TH/s, ETC only gained 2.11 TH/s.

It’s arguably easier to assume that 217 TH/s shut off over the lack of profits from ETH’s fiat value dropping last month. Ethereum miners are not making the profits they once did months ago. On May 7, 2021, ETH miners made $93.16 million in 24 hours, and on January 5, 2022, ETH miners raked in $85.38 million in a 24-hour period. Today, more than half of that revenue is gone and during the last 24 hours, miners made $43.23 million.

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Ethash is still the most profitable consensus algorithm today as the new Bitmain Antminer E9 with 2.4 gigahash per second can get an estimated $56.49 per day in profit. Compare that to one of today’s most profitable bitcoin miners, the Bitmain Antminer S19 XP with 140 TH/s, which makes $5.17 per day in profits.

Statistics show that there are 78 listed mining pools that mine ETH today and Ethermine.org is the largest miner in terms of hashrate. Ethermine.org commands 260.20 TH/s of today’s 973 TH/s. The 712.8 TH/s left stems from the dozens of ETH pools that mine ether every day.

What do you think about Ethereum’s hashrate dropping as The Merge approaches? Let us know what you think about this subject in the comments section below.

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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