Zcash Mining Revenue Surpasses Bitcoin's by Four Times

Zcash mining revenue per megawatt-hour has surpassed Bitcoin's by four times, according to an estimate from Grayscale Research Director Zach Pandl. In a sharp contrast to Bitcoin miners, Zcash operators use equipment designed for the Equihash mining algorithm, making it difficult for them to switch between networks.

Pandl stated that Zcash miners currently generate about $2 million in total revenue each day, compared with approximately $35 million earned across the Bitcoin network. However, when considering individual-machine basis, a Zcash miner earns about twice the daily revenue of a Bitcoin miner.

The significant increase in Zcash mining activity is due to stronger $ZEC prices, which have pushed estimated revenue per megawatt-hour to approximately four times the level generated by Bitcoin miners. This reinforcing cycle has encouraged more machines to join the network, pushing the total Zcash mining activity to over 2.5 times its level at the beginning of the year.