Bitcoin hashrate recovers, Ethereum final testnet merge scheduled

    BTC and ETH mining revenues rising, Ethereum merge test on Goerli, and more.

    Learn about industry news, development updates, community happenings, and other aspects of the PoW world!

    Mining industry


    Bitcoin mining revenue

    The Bitcoin network difficulty decreased by 5.01% last week, the third consecutive drop since late June. Following a coin price recovery and lessened hashrate competition, the mining revenue has returned to $0.11 per 1 TH/s, compared to $0.09 two weeks ago.

    The hashrate is around 210 TH/s at the time of writing, which is also a significant increase compared with 182 TH/s back on 2022-07-15.


    Ethereum mining revenue has just reached the highest level since the beginning of June to $0.025 per MH/s, achieving a 47% surge, compared to $0.017 2 weeks ago, with the aid of the gains in the ETH price. However, as the merge is getting closer, the hashrate and difficulty in the network have remained flat at the level two weeks ago.

    Development and network


    The merge test on Goerli, the last testnet merge, has been announced and is estimated to happen between 2022-08-06 to 2022-08-12. The time of the merge on the mainnet has not been decided yet.


    Dogecoin Core 1.14.6 has been released. This is a new minor version release, which includes important security updates and changes to network efficiency.

    Application and adoption


    The Secretary of Finance and Planning of Brazil commented on the city’s Bitcoin integration plans in an interview. Read more here.

    Lightning network’s capacity has hit 4,387 BTC at the time of writing, achieving a growth of 10% in the last 30 days which is also a new all time high. Follow the latest data on


    MetaMask mobile will be compatible with the Ledger Nano X in an upcoming release.

    Polygon, Ethereum’s layer 2 solution, has announced a complete implementation of the fully open-sourced zkEVM. It is EVM-equivalence, which means that any smart contract or dev tool that you can use on Ethereum can also be used on Polygon zkEVM.


    Through the partnership with Lago Finance and KdSwap, USDC has arrived on the Kadena network as its first stablecoin being traded in its DEX. Read more.


    TokenMint is now live on the mainnet. This is the alpha version of the TokenMint platform, which offers the basic functions for creating a fungible token. Learn more about its components here.


    CKBull, a mobile wallet for CKB has published its iOS and Android versions. This wallet supports sending transactions, collecting NFTs and staking the DAO all in one place.

    Community and more


    The community just had a wonderful week at the Mining Disrupt Conference. Review what was happening on their Twitter account.


    At the recent EthCC5 event, Vitalik spoke about the long term future of Ethereum. Check out the video, or view the transcript to learn more.

    This August will be filled with Ethereum events in different cities. ETH Seoul is happening from 2022-08-05 to 2022-08-07, followed by ETHToronto from 2022-08-08 to 2022-08-10, and ETHMexico from 2022-08-19 to 2022-08-21.

    The Merge Community Call #6 has been scheduled on 2022-08-12, after the Goerli merge test.


    Decred’s Journal of June has been released. The voting on treasury spends is back, while seven proposals on Politeia, DCRDEX Ethereum smart contract audit and more have happened in the past month.


    Kadena Eco has announced its first grant cohort, which includes team building infrastructures, developing tools and NFTs. In addition, they are now searching for their second grant cohort.

    The PoW Round-Up is our bi-weekly report on the major news and mining insights in and around the Proof of Work ecosystem.

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