Zcash Mining Revenue Beats Bitcoin, but Competition Is Rising
Zcash mining revenue is about 2x higher per machine.Revenue per MWh is roughly 4x Bitcoins.Zcash mining activity has increased more than 2.5x in 2026.Rising computing power is already squeezing individual miners. Zcash has become unusually lucrative for miners after ZECs price surge, with Grayscale Research estimating substantially higher revenue per machine and unit of electricity than Bitcoin, although rapidly rising network competition is already testing how long that advantage can last. Zcash beats Bitcoin at the machine level Bitcoin remains the much larger mining economy. Its miners collectively generate roughly $35 million in daily revenue, compared with about $2 million across the Zcash network,according to Grayscale Research. The comparison changes when revenue is measured at the level of an individual machine or its electricity consumption:Revenue per machine:Zcash is roughly 2x higher than Bitcoin.Revenue per MWh:Zcash generates about 4x Bitcoins revenue.Network mining activity:Zcash has increased more than 2.5x since the start of 2026.Daily network revenue:Zcash generates about $2 million versus Bitcoins $35 million. Grayscale Research Director Zach Pandl attributes much of the difference to ZEC‘s strong price performance. A higher token price raises the dollar value of the block rewards miners receive even before anything changes in the network’s underlying reward schedule. The result has been a powerful









