Ethereum Hashrate Hits Record High

Ethereum Hashrate Hits Record High

By Abhimanyu Krishnan | News | 7 Oct 2020


Ethereum’s hashrate has hit an all-time high of just over 250 TH/s, according to glassnode, which tweeted about the milestone on October 6.

  • This is the first time that miners have recorded a hash rate over 250 TH/s; in January 2020, the hashrate was just below 150 TH/s
  • The last time Ethereum’s hashrate was this high was back in August 2018
  • Data from mining pool F2Pool also shows that mining Ethereum is approximately 3 times as profitable as mining Bitcoin (BTC)
  • The DeFi market boom is a major contributor to the increased hash rate, and has also resulted in the network fees rising
  • Milestones such as Uniswap recording more volume than Coinbase and MetaMask reaching 1 million active monthly users all point to the growth of the Ethereum network thanks to DeFi

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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