Zcash Mining Surpasses Bitcoin in Profitability
Grayscale Research recently revealed that Zcash mining has surpassed Bitcoin mining in terms of profitability per rig and megawatt-hour. According to the report, while Bitcoin miners earn approximately $35 million daily, Zcash miners bring in around $2 million. However, the key finding is that Zcash mining rigs generate roughly twice the daily revenue of Bitcoin rigs.
Moreover, Zcash mining has been found to be four times more efficient in revenue per megawatt-hour compared to Bitcoin mining. This increased profitability can be attributed to Zcash's strong price performance, which recently surged above $1,000. The volatile nature of mining rewards means that these dynamics could change quickly.
Despite the surge in Zcash prices, differences in mining hardware and operational costs mean that profitability varies among miners. However, for those with the right equipment and resources, Zcash mining appears to be a more lucrative option than Bitcoin mining at present.