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Ethereum Classic’s Hashrate Taps Another All-Time High Following Ethereum’s Hardened Merge Timeline

News Feed - 2022-08-26 02:08:23

Ethereum Classic"s Hashrate Taps Another All-Time High Following Ethereum"s Hardened Merge Timeline


On Thursday, following the official proof-of-stake (PoS) transition announcement from the Ethereum Foundation, Ethereum Classic’s hashrate tapped another all-time high at block height 15,806,925. The latest jump to 38.64 terahash marks the network’s second record high in five days, as Ethereum Classic captured 38.37 terahash per second (TH/s) on August 20, 2022. Ethereum Classic Hashrate Spikes Following the Latest Merge Announcement


The Ethereum Foundation recently published a blog post called the “Mainnet Merge Announcement,” which gives the public more precise dates concerning The Merge upgrade. At the time of writing, The Merge is expected to go live on Sept 10-20, 2022, and when that happens, Ethash proof-of-work (PoW) miners will be forced to mine another Ethash-supporting crypto network.


Ethash miners have a few coins they can choose from, like ravencoin (RVN), ergo (ERGO), beam (BEAM), and ethereum classic (ETC). Five days ago, Bitcoin.com News reported on ETC’s hashrate tapping an all-time high at 38.37 TH/s at block height 15,776,674. On August 25, 2022, ETC surpassed that record as the network’s hashrate reached 38.64 TH/s at block height 15,806,925.



There’s a great possibility ETC could surpass that record again in the near future because the network jumped over the August 20 record on August 24 at block height 15,801,069 when it reached 38.40 TH/s. Moreover, there’s still 975.15 TH/s of hashpower pointed at the Ethereum (ETH) network today. While there are a few different Ethash supporting coins, so far, Ethereum Classic has been the main beneficiary of The Merge. Ethereum Classic’s 30-Day Gains Outshine Ether’s Price Rise Last Month


Ethereum classic (ETC), the network’s native token, has also managed to climb from the 20th largest market valuation to the 19th, as ETC prices jumped 10.2% higher in the last 24 hours. ETC jumped from $34.57 per unit during the early morning trading sessions on Thursday (EST), to the day’s price high at $38.09 per unit.



ETC has managed to climb 61.2% higher against the U.S. dollar during the last 30 days. In fact, ETC’s price rise over the past month is higher than ethereum’s (ETH) 18.4% rise in the same time period. Tags in this story beam (BEAM), ergo (ERGO), ETC, ETC chain, ETH, Ethash, Ethash coins, ether, Ethereum (ETH), Ethereum Classic, ethereum classic (ETC), Ethereum Classic"s hashrate, merge, PoS, PoW, ravencoin (RVN), The DAO fork, The Merge, transition


What do you think about Ethereum Classic’s recent hashrate spike? 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. Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts Say MINING | 12 hours ago Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year MINING | 19 hours ago


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A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design

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