While bitcoin’s value has remained well above the $60K range, the network’s hashrate has surged to over 184 exahash per second (EH/s) as mining devices are far more profitable at these prices. The price has made it so that older generation mining devices manufactured over four years ago, with processing power of more than 8 terahash per second (TH/s), can make a daily profit mining the leading crypto asset.
Bitcoin Hashrate Follows Ethereum’s Hashrate Toward All-Time Highs
On November 15, 2021, Bitcoin’s hashrate climbed to 184 EH/s gathering 17.19% more hashpower than the network saw a mere two days ago on November 13. Bitcoin’s (BTC) hashrate is getting close to nearing its all-time high (ATH), which was recorded on May 9, 2021, at 191 EH/s. Today’s Bitcoin hashrate metrics show that the hashpower is only 3.8% away from surpassing its ATH, according to coinwarz.com data.
Bitcoin hashrate on November 15, 2021, according to coinwarz.com.
In addition to BTC’s hashrate nearing ATH, the second-largest crypto asset in terms of market valuation, ethereum’s (ETH) higher prices have also propelled its network hashrate. At 932 TH/s, Ethereum’s hashrate is awfully close to a single petahash per second or 0.001 EH/s. Ethereum’s hashrate has already reached an ATH and has continued to soar higher, capturing new records.
Ethereum hashrate on November 15, 2021, according to coinwarz.com.
It’s worth it for miners to mine ether in comparison to BTC, as ETH is the third most profitable network to mine. At press time, the most profitable ether mining rig the Innosilicon A11 Pro that produces 1,500 megahash per second (MH/s) or 0.0015 TH/s can rake in $109.29 per day. The profit estimate stems from asicminervalue.com using today’s ether exchange rates and $0.12 per kilowatt-hour (kWh) in electric consumption.