Golden Finance reported that on May 31, 2024, the Ethereum Classic (ETC) network has successfully completed the production reduction ("Fifthening"), and the block reward has dropped from 2.56ETC to 2.048ETC. The halving occurred at a block height of 20000001, which was packaged by K1Pool; the last block before the halving was packaged by F2Pool. At present, the ETC network's computing power is about 180T, and it has continued to rise steadily by about 50% in the past year.