ETH hash rate hits all time high, mining it is 3X more profitable than BTC – Cointelegraph

ETH hash rate hits all time high, mining it is 3X more profitable than BTC – Cointelegraph

The amount of computing power on the Ethereum network is currently at an all time high following weeks of volatility in key metrics on the blockchain.

According to data from on-chain analytics provider Glassnode, the Ethereum hash rate hit an all time high of more than 250 terahashes per second (TH/s) on Oct. 6, marking an 80% rise since January. Glassnode reported that a surge in the hype surrounding DeFi projects this year sparking higher gas fees may have contributed to the metric reaching an all time high.

In addition, data from crypto mining pool F2Pool shows that it is currently up to three times as profitable to mine Ethereum (ETH) instead of Bitcoin (BTC).

F2Pool, which calculates mining profitability by determining current revenue (block reward and transaction fees) and deducting the cost of power, reports that BTC Antminer S19 Pro miners can earn $4.33 in profits over 24 hours, while ETH miners using GTX TitanV 8 cards can
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