None OKLink said the hashrate was 715.4 second wave of terahash and on Sunday, Etherscan showed it was 677.9 TH s. Both platforms said those are record values.
The hashrate has been on an upward trajectory since the end of June. Prior to the inclination that led to today's level, the all-time high was on Monday 19 May when OKLink recorded 632.8 TH s and Etherscan 604.5 TH s.
Since May 21 countries have not crackdown on crypto mining, contrary to the State Council’s “High Level Report” from the State Council. As miners moved their rigs and powered off trying to move their operations abroad, hashrates for ethereum and bitcoin fell. Many of these miners are operational now again.
None Eddie Wang, a senior researcher at OKLink, attributed the increase to a change in the expectations of miners. Miners and analysts expected Ethereum's London hard fork implemented on Aug. 5 to cause a fall in miner revenue, Wang told WeChat.
None But high demand on the network, with minting of high priority tokens that carry high fees, has kept mining revenue up, Wang said.
None Because mining has proven profitable after the hard fork, more miners are coming online, Wang said.