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.

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.

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.