Following the realization of Merge on Ethereum, Ethereum Classic became the new focus of Ethereum miners.
After Ethereum said goodbye to mining with Merge, most of the miners moved their operations to Ethereum Classic and this transition was reflected in the hash rate. According to the data, Ethereum Classic’s hash rate has increased by about 280 percent.
Serious Increase in Ethereum Classic’s Hash Rate
Along with Ethereum Merge, the Mainnet update has been completed and the network bids farewell to Proof of Work. With this development, the era of Ethereum mining was also over. The completion of Ethereum mining reduced the energy consumed by the network by approximately 99.5%. ETH miners, on the other hand, chose to continue their operations on another network. The most prominent in this area was Ethereum Classic.
Ethereum Classic Hashrate Source: 2miners.comAs can be seen from the chart, there is a serious increase in the hash rate of Ethereum Classic.
The hash rate, a measure of crypto mining output, was up to 184 terahashes per second (TH/s), 280 percent higher than the hash rate of 64 TH/s 24 hours ago. Specifically, according to data from the 2Miners mining pool, Ethereum Classic’s hash rate has grown by nearly 500 percent over the past 30 days.
