ZEC’s 125% Monthly Jump Fuels Miner Revenue and Pushes Zcash Hashrate to Record Highs

According to the latest metrics, mining bitcoin has officially climbed into the runner-up spot for proof-of-work (PoW) profits, landing just behind the privacy coin zcash.

ZEC Mining Profit Increases Network’s Computational Might

The digital currency zcash (ZEC) has been a standout mover in recent times, and today the privacy coin tacked on 18.7% against the U.S. dollar. Even with a 14% dip this week, its current $586 price tag keeps it 125% higher over the last 30 days. That climb has pushed the Zcash network to the top of the PoW heap, with ZEC’s Equihash stepping ahead of Bitcoin’s SHA256, in terms of profits.

The Bitmain-built Antminer Z15 Pro, cranking out 840 KSol/s, is projected to pull in $50.58 per day at an electricity rate of $0.04 per kilowatt hour (kWh) on Sunday, Nov. 23. The original Antminer Z15, delivering 420 KSol/s, is on track to bring in an estimated $25.15 per day using the same electricity rate. The lower-tier model, at least for now, even outshines the top-earning BTC machine, the Antminer S21e XP Hydro 3U.

Zcash’s hashrate has climbed to all-time highs. Image source: 2miners.com.

It’s also likely that some of the older, lower-tier Equihash ASICs are jumping back into the mix — including Innosilicon’s A9 and A9++ ZMasters.

Essentially, the “Sol/s” measurement shows how many Equihash solutions a miner can crank out and check every second. Once you hit 1,000 KSol/s (kilo solutions per second), you’re officially at 1 GSol/s (giga solutions per second). Right now, the entire network is gliding at all-time highs, hovering between 14 and 15 GSol/s. On Nov. 21, the Zcash network blasted past the 18 GSol/s threshold, setting a new lifetime peak.

Also read: Michael Saylor’s Poll Shows Broad Hesitation to Sell Bitcoin During Sharp Decline

Some of the same mining heavyweights powering BTC are also cranking away at ZEC, and today ViaBTC sits at the top of the pile. The pool controls a hefty 32.7% of the network’s computational punch after mining 327 of the last 1,000 blocks. F2pool trails in second place, landing 157 of the past 1,000 blocks and locking in 15.7% of the network.

Antpool and 2miners trail with 9.76% and 8.77% respectively. For now, zcash’s breakout run has completely reshuffled the PoW pecking order, lifting profits and pulling in some of the industry’s biggest pool bruisers. With ZEC hitting fresh highs, the network’s computational climb shows no hint of slowing as rivalry across the sector heats up.

FAQ 🚦

• What’s driving Zcash mining profits?
  Zcash’s 125% monthly price rise and soaring hashrate have pushed miner revenue sharply higher.
• Why is bitcoin now second in PoW profitability?
  ZEC’s Equihash algorithm currently pays more than Bitcoin’s SHA256 machines.
• How much can Zcash miners earn today?
  Top ZEC rigs like the Antminer Z15 Pro can generate over $50 per day at low electricity rates.
• Which mining pools dominate Zcash right now?
  ViaBTC leads the network, followed by F2pool, Antpool, and 2miners.