Ethereum Classic, Ravencoin, and Ergo Hash Rate Soar PostMerge

After Ethereum’s successful merge, miners began switching their rigs to other blockchains. Ethereum Classic (ETC), a hard fork of Ethereum executed following the 2016 DAO hack, saw its network hash jump nearly 300% from 66.54 terra hashes per second (TH/s) last night to 265.43 TH/s today, per data from 2miners. The tremendous increase in hash rate can likely be attributed to the Ethereum merge earlier today. After the merge, Ethereum no longer supports the energy-intensive, proof-of-work (PoW).