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ZEC Grayscale Research Director: Zcash mining revenue is significantly higher than Bitcoin, and network computing power has increased by 2.5 times.
Zach Pandl, director of Grayscale Research, pointed out that under current market conditions, Zcash (ZEC) mining profitability is significantly better than Bitcoin. Since the beginning of the year, mining activity on the Zcash network has increased by more than 2.5 times.
Privacy features coexist with high returns
An analysis published by Pandl pointed out that Zcash uses a proof-of-stake (PoW) consensus mechanism similar to Bitcoin, while providing additional privacy protection features. The article also emphasized that the strong performance of ZEC prices has greatly improved the mining economic model.
Although the Bitcoin network is much larger than Zcash in terms of size-according to Grayscale, Bitcoin miners receive a total daily reward of about US$35 million, compared with Zcash miners only about US$2 million-Zcash is expected to provide a higher return on investment considering the capital and energy investment required for mining.
The energy efficiency ratio advantage is obvious
According to Grayscale estimates, compared with Bitcoin miners, Zcash miners 'daily income per unit of equipment is about twice that of the former. In terms of energy consumption, Zcash mining generates approximately four times more revenue per megawatt hour (MWh) than Bitcoin. However, the article also pointed out that due to the different algorithms used by the two, the devices used for Bitcoin and Zcash mining are not compatible.
Some industry data shows that the yield per megawatt hour of Zcash mining is even higher than that of some artificial intelligence (AI) and high-performance computing (HPC) cloud services.
Form a forward cycle
The increase in mining profitability has also accelerated the flow of new processing capabilities into the Zcash network. According to standard hash rate measurements, mining activity on the Zcash network has increased by more than 2.5 times by 2026.
Grayscale believes this development could create a virtuous cycle for Zcash: rising ZEC prices drive increased mining activity, while increased hash rates enhance network security; safer networks are in turn seen as boosting investor confidence, further supporting ZEC prices.
* This document does not constitute investment advice.
