Grayscale Says Zcash Mining Rewards Are Double Bitcoin per Machine, Four Times Higher per MWh
Summary
- Grayscale said the recent daily reward from a single Zcash (ZEC) mining machine is roughly twice that of Bitcoin (BTC) mining hardware.
- It said mining revenue per megawatt-hour on a power-efficiency basis was about four times that of Bitcoin.
- Grayscale said total Zcash mining activity has increased by more than 2.5 times this year and that improved profitability could lead to stronger network security.
Forecast Trend Report by Period
Rising Zcash prices have boosted mining profitability, leading to a sharp increase in activity on the Zcash network.
Grayscale said on September 11, citing crypto media outlet Wu Blockchain, that a single Zcash mining machine now generates roughly twice the daily reward of a Bitcoin mining rig. On a power-efficiency basis, revenue per megawatt-hour is about four times that of Bitcoin.
The asset manager said a direct comparison between the two is difficult because Zcash and Bitcoin use different mining hardware. In other words, the figures were not calculated by running the same machine on both networks.
Grayscale estimated that total Zcash mining activity has increased by more than 2.5 times this year based on standardized hashpower. It added that improved mining profitability could create a virtuous cycle by attracting more miners and strengthening network security.
JH Kim
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