An analysis by Grayscale Research reveals that Zcash mining has become significantly more profitable than Bitcoin mining for individuals. While Bitcoin miners collectively earn approximately $35 million in daily rewards compared to $2 million for Zcash, a typical Zcash mining rig delivers roughly twice the daily revenue of a comparable Bitcoin machine. Zcash mining efficiency is particularly striking, with an advantage of four times in revenue per megawatt-hour. This elevated profitability is largely driven by ZEC’s strong price performance, as the privacy coin crossed $1,000 on September 4 for the first time in nearly a decade and now trades near $1,177, up nearly 15% over the past week. Grayscale converted its Zcash Trust into a spot ETF, ZCSH, which gathered more than $500 million in assets within two weeks of its listing on NYSE Arca on August 25.
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