Over the previous year, Ether (ETH) has increased in value to the point that it significantly outperformed Bitcoin (BTC) in terms of returns. The rise of Ethereum has made mining on its network more lucrative over time. This appears to have resulted in additional miners, resulting in an expansion of the network's hash rate.
The hash rate for Ethereum has hit a new high, approaching record levels of 1.11 PH/s, according to data from Glassnodes on Thursday. The previous ATH was reached previously on Jan. 13, when the ETH price fell from $4,460 to $3,160.