• December 5, 2023


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Hashrate of Ethereum Classic Jumps 70% Amid The Merge Update

ByLouis Adams

Sep 16, 2022 #Altcoins
Reading time: < 1 minute

After Ethereum migrated to the Proof-of-Stake consensus algorithm through yesterday’s The Merge update, the hashrate of Ethereum Classic increased to 110 TH/s with a daily growth rate of about 70%.

The price of ETC has increased by almost 5% recently and the coin has showed the best dynamics from the top 20 by capitalization after LEO.

Ethermine, the largest Ethereum pool, warned in August customers it would not support any potential forks of ETH on the Proof-of-Work (PoW) algorithm. As options for the further activities of the miners, the platform suggested they switch to mining Ethereum Classic, as well as Ravencoin (RVN), Ergo (ERGO) or Beam (BEAM).

The hashrate of the above coins also showed a noticeable daily increase.