Proof-of-work blockchain Ethereum Classic has recorded a large spike in hash rate as miners close shop on the now proof-of-stake Ethereum. On Thursday, its hash rate — a measure of crypto mining output — shot up to 183 terahashes per second (TH/s), 280% higher than the 64 TH/s hash rate 24 hours ago. Notably, Ethereum Classic's hash rate has witnessed a 500% growth in the last 30 days, according to data from mining pool 2Miners. The sudden hash rate growth followed Ethereum's successful transition from proof of work to a proof of stake consensus. After this upgrade, Ethereum no longer requires miners. -of-stake ... (full story)