‘The Merge’ Soar Hashrate of Ethereum Classic, Ravencoin and Ergo

  • After the successful merge on the Ethereum network, all the PoW miners got their alternatives as Ethereum Classic, Ravencoin, and Ergo.
  • Ethereum Classic, Ravencoin, and Ergo noted an all-time high, due to the increased mining activity.

Hashrate on The Alternative Blockchains

After the successful upgrade of Ethereum from proof-of-work (PoW) to proof-of-stake (PoS), all the PoW miners seem like they have shifted their rigs over to Ethereum Classic. On September 15, 2022, the hashrate of the Ethereum Classic network recorded 106 terahashes per second (TH/s) in the afternoon, which then spiked at 307.33 TH/s in the evening of the same day.

Ethereum Classic Hashrate, Source: 2miners

However, the current hashrate of Ethereum Classic is 218.23 TH/s. It must be noted that Ethereum Classic is assumed to become one of the few beneficiaries of The Merge which has only a limited number of chains able to onboard miners running EtHash ASIC hardware.

The native token of Ethereum Classic, ETC, is currently trading at the price of $34.07 USD with an increase of 0.96% in the past 24 hours.

Ravencoin Hashrate, Source: 2miners

Additionally, Ravencoin is another chain onboarding miners that noted a spike of 290% since the start of September. Its present hashrate is at the highest level of 19.70 TH/s since May 2020. The native token of Ravencoin, RVN, is currently trading at the price of $0.04 USD with a decrease of 7.48% in the past 24 hours.

Ergo Hashrate, Source: 2miners

The hashrate of Ergo is also surging with a massive increase since August and recorded a new high of 155.73 TH/s at the time of writing. The native token of Ergo, ERG, is currently trading at the price of $4.26 USD with a decrease of 4.74% in the past 24 hours.

Source: https://www.thecoinrepublic.com/2022/09/17/the-merge-soar-hashrate-of-ethereum-classic-ravencoin-and-ergo/