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Why ETHPoW’s >40% surge post the Merge shouldn’t get miners all elated

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ambcrypto.com

ETHPoW, in contrast to its recent development, rallied 44.85% from its value on 19 September. According to CoinMarketCap, the cryptocurrency went from $0.480 to trade at $6.73 at press time.For its investors, this could be a sigh of relief since the breakdown of servers led to a massive loss in value in one day.

However, this uptick would have been impossible without applauding certain aspects of the ETHPoW ecosystem.One part that was instrumental to the price increase was the hashrate.

According to 2Miners.com, ETHPoW’s hashrate had increased 28.34% in the last 24 hours. At the time of writing, the hashrate was 7.20 Terahash per second (TH/s).Source: 2Miners.comBefore the increase, the hashrate had gone as low as 5.05 TH/s.

Looking at other aspects of the mining pool, it was observed that about $15,400 had been paid to miners in the last 24 hours.

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