According to the latest metrics, Bitcoin mining has officially emerged as the runner-up in terms of proof-of-work (PoW) profits, ranking behind privacy coin zcash.
ZEC mining profits increase network computing power
The digital currency zcash (ZEC) has been making notable moves recently, with the privacy coin registering 18.7% against the US dollar today. Despite falling 14% this week, its current price of $586 is up 125% over the past 30 days. This rise propelled the Zcash network to the top of the PoW heap, with ZEC’s Equihash surpassing Bitcoin’s SHA256 in terms of profits.
The Bitmain-built Antminer Z15 Pro outputs 840 KSol/s and is projected to generate $50.58 in revenue per day at an electricity rate of $0.04 per kilowatt-hour (kWh) on Sunday, November 23rd. The original Antminer Z15, which outputs 420 KSol/s, will generate an estimated return of $25.15 per day using the same electricity rate. The lower model also outperforms the most profitable BTC machine, the Antminer S21e XP Hydro 3U, at least for now.
Zcash hashrate has risen to an all-time high. Image source: 2miners.com.
It’s also likely that some of the older lower-tier Equihash ASICs will be back in the mix, such as Innosilicon’s A9 and A9++ ZMaster.
Basically, the “Sol/s” measurement indicates how many Equihash solutions a miner can create and check every second. Once it reaches 1,000 KSol/s (kilo-solution/second), it officially becomes 1 GSol/s (giga-solution/second). The entire network is currently at an all-time high, hovering between 14 and 15 GSol/s. On November 21st, the Zcash network crossed the 18 GSol/s threshold, setting a new lifetime peak.
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Some of the same mining heavyweights behind BTC are starting to make their way into ZEC as well, with ViaBTC currently at the top of the heap. This pool controls a significant portion of the network’s computational punch, 32.7%, after mining 327 of the last 1,000 blocks. F2pool was in second place, landing 157 of the last 1,000 blocks and pinning 15.7% of the network.
Antpool and 2miners follow with 9.76% and 8.77% respectively. So far, zcash’s rise has completely reshuffled the PoW hierarchy, increasing profits and drawing in some of the industry’s biggest pool powerhouses. As ZEC hits new highs and competition across the sector intensifies, network compute growth shows no signs of slowing down.
Frequently asked questions 🚦
- What is driving Zcash mining profits?
Zcash’s 125% monthly price increase and soaring hashrate have resulted in a significant increase in miners’ revenue. - Why is Bitcoin ranked second in PoW profitability?
ZEC’s Equihash algorithm currently pays out higher than Bitcoin’s SHA256 machine. - How much can Zcash miners earn today?
Top ZEC rigs like the Antminer Z15 Pro can generate more than $50 per day at low electricity rates. - Which mining pool currently controls Zcash?
ViaBTC leads the network, followed by F2pool, Antpool, and 2miners.
