What is Reported Hashrate

Hashrate is an indicator of the computing power of mining equipment. This parameter shows the number of operations per second that the computer hardware performs. The indicator is expressed in H/s and higher measures of calculation. Cryptocurrency miners often track different parameters. One of the characteristics is Reported Hashrate. This phrase is translated from English as “reported hashrate”. The value of the parameter, as a rule, differs from the actual capacity of the equipment used. Beginners rarely understand why this happens.

Differences between the declared hash rate and the actual and average hash rate

There are 3 terms concerning computing power values:

• Current. This is the actual (confirmed) value. It is calculated by the mining pool. The parameter depends on the number of shares calculated by the user. The indicator affects the profitability of mining cryptocurrency assets. Any mining pool pays for the work of participants, taking into account exactly the provided orbs.
• Average. This is the average value. It is calculated for a specific period of time – usually 24 hours. The indicator is used in statistics. It has no other use.
• Reported. This is the reported power. The value is used by software to record the hash rate sent to the pool. The parameter is used only for comparison with the confirmed value. There is usually a small difference between these values. Also, the parameter is only displayed in the software for connected vorkers (devices for cryptomining).

How to stabilize Reported Hashrate

There is always a variation in characteristics. If the differences are not critical, you should not waste time stabilizing the indicators. But sometimes the actual data are much lower than the reported ones. Then stabilization is necessary.

Current Hashrate can be much lower than Reported Hashrate for a number of reasons presented in the table below.

Optimal reported value

Normally, Reported exceeds Average only by 10-20%. This difference is considered optimal in the community of cryptocurrency miners.

1

ByBit

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2

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9.5

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Why you shouldn’t chase high numbers

To increase the confirmed hashrate, miners “overclock” their video cards and other hardware. However, beginners should not do this. Excessive or incorrect overclocking leads to an increase in the heat generated. As a result, the mining equipment overheats and fails without the possibility of repair. Also, overclocking increases the load on electronic chips. This reduces the life of the equipment.

Manufacturers of video cards and other computer components release them to the market already calibrated. Changes in factory specifications often lead to a decrease in the life of mining equipment.

Author: Saifedean Ammous, an expert in cryptocurrency economics.