Zcash mining activity has increased more than 2.5× since the start of 2026, according to data shared by Grayscale Research.
Network mining power has climbed sharply this year, reaching levels far above the previous cycle highs.
Grayscale also estimates that under current conditions:
• Zcash generates ~2× the mining revenue per rig vs. Bitcoin
• Revenue per MWh is ~4× higher
Important: these figures refer to gross mining revenue — actual profitability depends on electricity costs, hardware, pool fees and network difficulty.
The rapid increase in mining power also means substantially more computational resources are now securing the Zcash network.
Source: Grayscale Research / Coin Metrics
Data: September 2026
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