Zcash mining now generates $727 per megawatt-hour of electricity consumed, a figure that exceeds Bitcoin mining’s $162 per MWh by more than fourfold. This performance is primarily explained by the surge in ZEC price, which trades between $800 and $890, a dramatic rebound compared to the years when the cryptocurrency traded well below its 2018 highs. The Bitmain Z15 Pro hardware, designed for the Equihash algorithm, enables miners to capture this value. Cypherpunk Technologies acquired 4.2 gigasols per second of computing power for $33.33 million in August 2026, securing approximately 18% of the Zcash network hashrate. A 50% drop in ZEC price would reduce revenue to around $360 per MWh, though this would still exceed Bitcoin mining’s current rates.
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