XCH Miner

11, Dec

ZEC's monthly jump of 125% boosted miner revenue and pushed Zcash hashrate to new highs.

ZEC's 125% monthly jump has boosted miner revenue and pushed Zcash hashrate to new highs.

ZEC mining profits increase network computing power. The cryptocurrency Zcash (ZEC) has performed exceptionally well in recent years, with the privacy coin rising 18.7% against the US dollar today. Even after a 14% drop this week, its current price of $586 is still 125% higher than the previous 30 days. This surge puts the Zcash network ahead in the PoW rankings, with ZEC's Equihash algorithm surpassing Bitcoin's SHA256 in terms of profitability.

The Antminer Z15 Pro, manufactured by Bitmain, at a speed of 840 KSol/s, is projected to generate $50.58 in revenue per day on Sunday, November 23, 2023, at an electricity cost of $0.04 per kilowatt-hour (kWh). The original Antminer Z15, offering 420 KSol/s, is projected to generate $25.15 in revenue per day with the same electricity cost. At least for now, this low-end model even surpasses the highest-yielding Bitcoin mining machine, the Antminer S21e XP Hydro 3U.

ZEC's 125% monthly jump has boosted miner revenue and pushed Zcash hashrate to an all-time high.

Zcash's hashrate has climbed to an all-time high. Image source: 2miners.com. Older, low-end Equihash ASICs, such as Innosilicon's A9 and A9++ ZMasters, are likely to return to the market.

Basically, "Sol/s" measures how many Equihash solutions a miner can output and check per second. When you reach 1000 KSol/s (thousands of solutions per second), you officially reach 1 GSol/s (giga-sols per second). Currently, the entire network is at an all-time high, hovering between 14 and 15 GSol/s. On November 21st, the Zcash network broke the 18 GSol/s threshold, setting a new all-time peak.

Also read: Michael Saylor's poll shows widespread hesitation to sell Bitcoin during sharp declines.

Some of the mining giants powering BTC are also mining ZEC, with ViaBTC currently leading the pack. This pool mined 327 of the last 1000 blocks, representing 32.7% of the network's hashrate. F2pool follows closely behind, mining 157 of the last 1000 blocks, or 15.7%.

Antpool and 2miners rank behind with 9.76% and 8.77% respectively. The current Zcash surge has completely reshaped the PoW rankings, boosting profitability and attracting some of the industry's largest mining pools. As ZEC hits new highs, the network's hashrate climb shows no signs of slowing, intensifying competition in the space.

Frequently Asked Questions 🚦 What's driving Zcash mining profitability? A 125% monthly increase in Zcash's price and a surge in hashrate have driven a significant rise in miner revenue.

Why is Bitcoin now second in PoW profitability? ZEC's Equihash algorithm currently pays out more rewards than Bitcoin's SHA256 machines.

How much can Zcash miners earn today? Top-tier ZEC equipment like the Antminer Z15 Pro can generate over $50 in revenue per day with low electricity costs.

Which mining pools currently dominate Zcash? ViaBTC leads the network, followed by F2pool, Antpool, and 2miners.