ChainCatcher report: GrayScale Research Head Zach Pandl noted that Zcash, a privacy-focused cryptocurrency similar to Bitcoin, is currently highly profitable to mine. Although Bitcoin miners receive approximately $35 million in daily rewards—far exceeding Zcash’s $2 million—the daily earnings per mining rig for Zcash are roughly twice those of Bitcoin, and the revenue per megawatt-hour is about four times higher, even surpassing some AI and high-performance computing cloud services. Driven by strong token price performance, total Zcash mining activity has more than tripled this year, creating a positive feedback loop: rising prices lead to increased mining, which enhances network security and further supports price stability. Pandl believes that, at current valuations, Zcash mining remains attractive and continues to strengthen its network security.
Grayscale: Zcash Mining Profitability Exceeds Bitcoin, Hashrate Increases Over 2.5x Year-to-Date
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Summary
Grayscale reports that Zcash mining node profitability now exceeds Bitcoin’s, with daily per-machine earnings roughly doubling. Zcash’s revenue per megawatt-hour is four times higher. The network hashrate has grown more than 2.5x year-to-date. Strong price action is driving mining activity and reinforcing network security. Zcash’s rise underscores the potential of privacy coins with robust mining node infrastructure. Meanwhile, development of layer 2 scaling solutions remains a key focus for broader blockchain adoption.
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