Every cryptocurrency uses its own encryption algorithm. Ones require mining by GPU, another allows mining by special equipment ASIC (ASIC is more powerful than GPU or CPU). Thus calculations must take into account the type, power of equipment and algorithm for a definite digital coin. On the Internet, there are special calculators that help to estimate hashrate of your equipment.
Kilohash kH – 1000 h/s
Megahash MH – 1 000 000 h/s
Gigahash GH - 1 000 000 000 h/s
Terahash TH - 1 000 000 000 000 (12 zeros) h/s
Petahash PH - 1 000 000 000 000 000 (15 zeros) h/s
It’s a summary of all miner's hashrates that are using to create new digital coins. Most of all mining powers are working for creating new digital coins of Bitcoin and Ethereum. Network hashrate constantly is changing. But on average Bitcoin’s network hashrate is 182 EH/s. Ethereum network hashrate is 1PH/s.
Some experts think that in the future network hashrates will be reduced. It’s connected with eco-protests against mining and government’s attempts to regulation this industry. Additional factor is an over 90% of all bitcoins have already been mined (according to the Clark Moody Bitcoin Dashbord).
- Type of mining equipment. The hashrate of the mobile or computer CPU is low. And the GPU of video cards or specially tuned video cards (FPGA) is much higher. The highest hashrate is shown by specialized ASIC equipment, however, it cannot mine all types of digital coins.
- Setting for a specific mining algorithm. Setting your equipment to a special algorithm tailored for mining a certain coin increases the hashrate. The most common algorithms are Ethash4G, Zhash, CNHeavy, CNGPU, CNFast, Cortex, Aion, CuckooCycle, Beam, Autolykos, Octopus.
- Modernization of equipment. If you have special education, you can increase the intensity of the mining equipment by increasing its hashrate. However, this can accelerate hardware degradation.
You need to understand that different types of video cards on different algorithms show different levels of hashrate. So, the video card GeForce 3090 on the algorithm Ethash will show the hashrate in 114 Mh/s, but in algorithm in Cortex only 5,3 h/s!
In addition, video card manufacturers have already begun to release new equipment that does not allow mining. An example here is the line of video cards from Nvidia - GeForce RTX 30 Lite Hash Rate. They have built-in special protection that reduces the hash rate for all types of mining.
In June 2021, China banned mining cryptocurrency. China's sweeping ban on cryptocurrency mining has paralysed an industry that accounts for over half of global bitcoin production, as miners dump machines in despair or seek refuge in places such as Texas or Kazakhstan.
In January 2022, when started protests in Kazakhstan, the government shut down the Internet. This caused a drop in Bitcoin mining since the country is home to 18% of the world's Bitcoin production capacity.