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ZEC Core Insights
Grayscale claims that Zcash's cryptocurrency mining profits are higher than Bitcoin mining. In the past three months, Zcash has outperformed Bitcoin in price. Bitcoin's market dominance has cooled significantly, while Zcash's market share has grown rapidly.
The comparison between Zcash and Bitcoin may seem unfair, but it turns out that "privacy" does have certain advantages that make it perform well in comparison with the originator of cryptocurrencies.
First of all, both Zcash and Bitcoin use a Proof-of-Work consensus mechanism. The profitability of Bitcoin mining is a key part of the entire operation. As a result, a recent statement by Grayscale's research director attracted strong interest from observers.
Zach Pandl, research director at Grayscale, recently stated that for individuals, Zcash mining is more profitable than Bitcoin mining. He pointed out that miners 'rewards for Bitcoin mining are as high as US$35 million per day, while the total miner rewards for Zcash mining are US$2 million.
However, Pandl pointed out that Zcash mines twice the reward per miner that earns Bitcoin. In addition, he also revealed that Zcash generates four times as much rewards per megawatt hour as Bitcoin.
Zcash hash rate| Source: CoinWarz
Miners undoubtedly noticed this, which explains why Zcash's hash rate has steadily increased over a few months. In the past three months, it has soared from a low of 17.6 Gsol/s to a high of 28.3 Gsol/s.
Zcash price performance surpasses Bitcoin
In addition to mining profitability, Zcash has also triggered comparisons with Bitcoin in other aspects. During this same three-month period, the privacy-minded token performed even more than the "King of Crypto."
For reference, in the past three months, ZCash's price has increased by 174% from the opening price to the closing price. In comparison, Bitcoin prices only increased by about 31% during the same period.
Zcash Price Trend| Source: TradingView
In other words, Zcash is more profitable for holders than Bitcoin. Mining profitability, as an attraction, enhances the strength of the network and benefits ZEC. In addition, the "privacy narrative" remains strong this year.
Compared to Bitcoin, ZEC, as a relatively new player, also has advantages. In other words, it has more room for growth than its more popular competitors.
Bitcoin and Zcash have an inverse relationship in terms of market share
Cryptocurrency market share roughly reflects the ability of a token or coin to gain liquidity. From June to September 2025, Bitcoin's market share has dropped significantly, hovering between 58% and 60%.
When BTC's market share falls below 60%, the market tends to allocate more funds to altcoins. Not surprisingly, ZEC continues to climb in market share rankings.
For reference, ZEC's market share was as low as 0.14% in March 2025, but has recently reached a high of 0.80%.
ZEC Market Share| Source: TradingView
ZEC's growth in market share reflects its ability to leverage strong demand for privacy coins. More importantly, Zcash has undoubtedly proved itself to be a major force in the industry.
However, despite its glorious rise, Zcash still has a long way to go to compete with Bitcoin on a level playing field. Still, the dawn of the era of crypto regulation seems to be one of the key drivers driving Zcash into the mainstream.
In a world where blockchain technology provides unparalleled transparency, privacy coins have unique appeal. ZEC is currently at the top of the food chain, which explains why giant whales and institutions are lining up to enter.
