Prior to The Merge activation on the network, Ethereum Classic (ETC), the second largest cryptocurrency by capitalization, hit a record high of 46 TH/s, according to Coin Metrics.

For comparison, the computing power of the Ethereum (ETH) network is 910 TH / s – an indicator that is about 19 times higher than the “original ether”.

Mining revenue per hash price for Ethereum is still significantly higher – 95%. In other words, mining ETH is much more profitable.

Such a significant difference in mining profitability is largely due to price dynamics. Over the past seven days, Ethereum has grown 9.3%, Ethereum Classic – only 3.5%.

The increase in the Ethereum Classic hash rate is clearly associated with the transition of Ethereum miners to a “relevant” cryptocurrency mining in anticipation of The Merge update.

Recently, the well-known pool BTC.com offered customers quarterly commission-free mining.

As the ETH 2.0 merger approaches, https://t.co/38N9uRCNSj will launch a quarterly ETC mining “zero fee” activity on September 1, 2022 to reward new and regular users for https://t support. .co/38N9uRCNSj.#EthereumClassic #EthereumMerge https://t.co/gd1v0S8xfG pic.twitter.com/XTfDoG8sDg

— BTC.com (@btccom_official) 31 August 2022

The Merge will be activated on approximately September 15th. The transition of Proof-of-Stake will make it impossible to mine ether on video cards and ASIC devices like the Antminer E9.

Recall that in July, the AntPool mining pool associated with Bitmain made a $10 million investment in the Ethereum Classic ecosystem.

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