Zcash mining is still compelling at current valuations, according to Grayscale Head of Research Zach Pandl, who compared the privacy-focused Bitcoin-like network with Bitcoin on miner economics. While Bitcoin miners collectively earn about $35 million in daily rewards, far more than Zcash’s roughly $2 million, Pandl said Zcash delivers stronger returns at the machine and power-usage level. He wrote that daily revenue per Zcash mining rig is about 2x that of a Bitcoin rig, and revenue per megawatt-hour is about 4x higher than Bitcoin’s. He added that the figure is even above some AI and high-performance computing cloud services. Pandl also said Zcash network mining activity has risen by more than 2.5x this year, driven by strong token price performance. In his view, that has created a loop of rising prices, increased mining, stronger network security, and price support.
According to ChainCatcher, Grayscale Head of Research Zach Pandl said in a post that Zcash, a Bitcoin-like digital currency with privacy features, currently offers strong mining profitability.
Pandl wrote that Bitcoin network miners receive about $35 million in daily rewards, well above Zcash’s roughly $2 million. Even so, he said daily revenue per Zcash mining machine is about 2x that of Bitcoin, while revenue per megawatt-hour is about 4x higher. He added that the figure is even higher than some AI and high-performance computing cloud services.
He also said Zcash network mining activity has increased by more than 2.5x this year, driven by strong token price performance, creating a cycle of rising prices, more mining, stronger network security, and support for prices.
Pandl said Zcash mining remains attractive at current valuations and continues to strengthen the network’s security.
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