Grayscale Research Head Says Zcash Mining Remains Highly Profitable

Grayscale research head Zach Pandl said Zcash, a privacy-focused Bitcoin-like digital currency, is currently highly profitable to mine. According to ChainCatcher, he noted that Bitcoin miners receive about $35 million in daily rewards, far above Zcash's roughly $2 million, but Zcash mining rigs generate about twice the daily revenue of Bitcoin miners per machine and about four times the revenue per megawatt-hour. Pandl said Zcash mining activity across the network has increased more than 2.5 times this year, driven by the token's strong price performance. He described a cycle in which rising prices boost mining activity, which strengthens network security and in turn supports the price. He added that Zcash mining remains attractive at current valuations and continues to reinforce network security.