Zcash Surges Past Bitcoin in Revenue Generation for Miners

The economics of cryptocurrency mining has shifted dramatically in favor of Zcash, with top mining rigs for the privacy-focused token now generating nearly four times more gross revenue per megawatt-hour than the best available Bitcoin machines.

The disparity is pulling industrial miners away from Bitcoin at a time when the world's largest cryptocurrency is struggling with margin compression and stagnant hashrate growth. According to data cited by multiple industry sources, an Antminer Z15 Pro mining Zcash produced approximately $708 in gross revenue per MWh in early September.

This compares to just $179 for a Bitmain S23 Pro mining Bitcoin over the same measure, while the older S21 Pro managed only $113.45. The ratio of roughly 3.96 to 1 underpins the 'four times more' figure now circulating among mining operators.