Zcash Miners Outperform Bitcoin Counterparts in Revenue and Energy Efficiency
According to Grayscale Research, Zcash miners are now earning twice as much revenue per machine compared to Bitcoin miners. This significant increase in profit is largely due to the higher price of ZEC, which has boosted miner revenue across the network.
The data from Grayscale shows that a typical Zcash mining machine generates around $2 million a day, while Bitcoin miners earn about $35 million daily. However, this discrepancy can be attributed to the much larger mining network of Bitcoin.
Interestingly, when measured by electricity use, Zcash mining produces about four times as much revenue per megawatt-hour compared to Bitcoin mining. This energy advantage gives operators a higher revenue relative to power consumption.
The surge in Zcash mining activity has also been significant, with a rise of over 2.5 times since January. The increasing ZEC price has incentivized miners to add more computing power and expand their operations.