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Ethereum hash rate sets all-time high as price surges By BTC Peers

by Mike Robinson

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As Ethereum prices rise, the Ethereum hash rate is at an all-time record high

With the latest price rise, the hash rate for this network reached a new peak.

According to data from The Block’s Data Dashboard, Ethereum’s hash rate currently stands at about 747 TH/s (terahashes per second). In July, the hash rate dropped to 465 TH/s. But, the hash rate has shown a rapid recovery.

Some factors that have contributed to the increase in Ethereum’s hash rate include the consistent expansion in the DeFi and NFT space coupled with the recent ETH price rally.

Ethereum miners are more profitable when ETH trades at higher levels because they earn their block rewards.

Data dashboard indicates that Ethereum miners earned $1.85 billion last month. Comparatively, Ethereum miners have generated more revenue for six consecutive months.

Meanwhile, Ether’s bullish run is still ongoing. This Tuesday saw the market’s second-largest cryptocurrency reach a record high of $4,500.

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