Ethereum The Merge in less than one hour, ETC hash rate remains stable

Ethereum The Merge is finally an hour away! The miners also anticipate the PoS launch as the Ethereum Classic (ETC) hash rates rise more than expected, co-founder of Ethereum, Vitalik Buterin reports.

Ethereum The Merge is this year’s most exciting event that will completely change the network’s operations from proof of work to proof of stake, making it more scalable and 99.9% environment-friendly.

Since Ethereum would be switching towards PoS, the miners would be forced to shift towards Ethereum Classic, the old chain forked in 2016.

According to recent data on, the hash rate of Ethereum Classic rose to an all-time high of  65.49 terahashes per second. This is an unexpected turn that Buterin had been hoping for near the merge.

“Looks like the "hashrate will drop weeks before the merge due to miners rushing to sell ahead of everyone else" thesis has been proven completely false,” he said.

“I'm a bit surprised! I argued against a 50% drop but definitely expected like 5-10%,” Buterin added in a Twitter post.

Hash rate means the amount of computational power needed to mine or create a cryptocurrency in a proof of work model. The biggest example is Bitcoin, and now Ethereum is moving away from it.

In the PoS merge, Ethereum will replace miners with validators who will stake ETH to keep the network running and save energy, and the world is more than ready to accept the new upgrade.

Today, Ethereum will officially shut down the miners and proof of work model completely and replace it with the proof of stake model after three successful test runs this year.

As the merge nears, #EthereumMerge and #ETH are trending on Twitter as people anticipate the great upgrade so close to the mark.

Additionally, many platforms like Binance have paused trading of $ETH to welcome the new proof-of-stake ETH. With only one hour left, the countdown to the upgrade has begun.