Monero hash rate doubles after mining algorithm change

Monero changed its mining algorithm during one of its regular hard forks to keep the network ASIC resistant. This latest upgrade to the RandomX mining algorithm has also largely pushed GPU miners away from Monero. The RandomX algorithm has significantly boosted the efficiency gains for CPU miners resulting in a substantial increase in Monero hash rate since the upgrade.

Why it matters:

• Before the upgrade, concerns were raised regarding the possibility that the Monero network would be more susceptible to botnet mining after RandomX is implemented. Luxor Mining has noted that a lot more Monero hash rate appears to be controlled by botnets since the upgrade
• CPU Mining has become the hardware of choice when it comes to Monero mining with most GPU miners being forced to transition to other networks.