The first month of 2022 brought ATH hashrates for the two leading cryptocurrencies namely Bitcoin and Ethereum. Hashpower for Bitcoin was increased above 200 EH/s while for Ethereum, hashpower surged for more than 1 PH/s. However, there were a small number of cryptocurrencies whose hashpowers were reduced from their ATH.
While crypto trading is one thing but crypto mining is another thing that is entirely different from trading. Mining is a process that involves producing digital currencies and the production process requires hashpower. The better the hashpower, the more the crypto coins will be produced.
Bitcoin and Ethereum are currently the leaders of the digital asset industry in terms of their individual values and market caps. However, in terms of hashpower, again both have been having the highest hashpower which is enormously higher than any other cryptocurrency. Bitcoin’s highest hashpower was recorded very recently on 15th January 2022 when the hashpower went past 219 exahash per second (EH/s). Currently, Bitcoin is moving ahead with its hashpower exceeding 200 EH/s and reaching up to 216 EH/s.
7At the present moment, Ethereum is in fact leaving behind Bitcoin as well in terms of its huge hashpower. Ethereum’s hashpower is well above 1 petahash per second (PH/s), which represents an impressive processing power.
Bitcoin has three top-notch mining pools namely F2pool, Foundry USA, and Antpool. The three mining pools have been supplying approximately 15% of the global hashpower to Bitcoin exclusively. In addition, out of 200 EH/s for Bitcoin, 29 EH/s have been supplied by these three mining pools alone.
It is expected now that the difficulty for the network of Bitcoin is likely to be increased by at least 6.24%. If the difficulty level eventually increases to the expected level, then Bitcoin’s difficulty will become its all-time high (ATH).
While Bitcoin is struggling in nearing its ATH hashpower but on the other hand, Ethereum is maintaining its ATH hashpower very efficiently. Ethereum’s ATM hashpower was above 1 PH/s which was initially achieved in the month of December last year. Since then, Ethereum has been successfully keeping its ATH hashpower intact without letting it decline at any stage. Currently, Ethermine.org is the top mining pool of Ethereum which has been single-handedly supplying more than 295 terahash per second to Ethereum.
The story of hashpower for other cryptocurrencies is not as good as it is for Ethereum and Bitcoin. For instance, Litecoin too has been struggling in getting a promising hashpower. Litecoin’s ever best hashpower was seen lastly some two and a half years ago. At that time in July 2019, Litecoin saw its hashpower surge by 468.50 TH/s. At present, Litecoin’s hashpower is in between the range of 350 and 368 TH/s.
Similarly, Dash and Ethereum Classic have been unable to see an increase in their respective hashpowers. They both are moving along with their hashpowers reduced at 5.24 PH/s and 20.37 TH/s respectively.
