Bitcoin.com News reported four days ago on ethereum miners working at the blockchain at high speeds just before The Merge. The Merge refers to Ethereum’s transition from proof of work (PoW), to a fully proof-of stake (PoS), system. Ethereum’s hashrate reached an all-time record (ATH) of 1.131 petahash per sec (PH/s) on April 7, 2022.
According to metrics from the three month chart on coinwarz.com, Ethereum’s hashrate hit another ATH today at 1.148 PH/s. A core developers update was published by Tim Beiko, an Ethereum developer, the day before in a Twitter thread.
Tim Beiko: “We are Definitely in The Final Chapter of PoW On Ethereum”
Beiko was asked by an individual to answer questions about Ethereum miners responsible for securing the network. An individual asked Beiko if Ethereum developers would be “left out to dry.”
Beiko replied to the person by explaining that he wouldn’t invest in any future mining devices. The Ethereum developer tweeted, “I strongly recommend not investing in mining equipment at the moment.” The individual then asked Beiko if developers had planned for the “plug pull” in June, or if the ether miners have more time. Beiko replied that the same question was asked and added:
It won’t happen in June, but it is likely to be within the next few months. We are certain that we are in the last chapter of PoW on Ethereum.
These statements suggest that ether miners will have more time before The Merge’s “plug pull.” Ethash miners, which is Ethereum’s consensus algorithm for mining cryptocurrency, are among the most profitable today. The Innosilicon A11 Pro Ethereum miner (1500 MH/s), can earn $54.30 per Day in ether profits, with $0.12 per Kilowatt-hour electrical cost and today’s ether exchange rate.