Miners are flocking to Ethereum! The network’s hash rate surpassed 1.11 PH/s for the first time, its second ATH in January.
) in terms of returns. The rise of Ethereum has made mining on its network more lucrative over time. This appears to have resulted in additional miners, resulting in an expansion of the network's hash rate.to data from Glassnodes on Thursday. The previous ATH was reached previously on Jan. 13, when the ETH price fell from $4,460 to $3,160.When the hash rate rises, it indicates that more nodes are joining the network, and the network is becoming more decentralized.
After the switch to PoS, however, ETH will no longer be mined; instead, transactions will be validated byPresently, the network's hash rate has increased past one petahash. The number is equivalent to around 1,000 TH/s and indicates that the network's hash rate has risen more than 66,000% since March 2016, when it started being recorded on the network.
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