ZCash (ZEC) Mining Is By Far More Profitable Than Bitcoin Mining

As the price of Bitcoin continues to fluctuate in the crypto-market, traders are increasingly becoming despondent over its poor performance. Truly, this year hasn’t been impressive for Bitcoin investors. Furthermore, Bitcoin mining is becoming more daunting as more miners join the mining party. To put all this into perspective, the computational energy and the hardware requirements of Bitcoin mining is making it less attractive than normal. Though, there’s a new kid on the block worth checking out, ZCash.

ZCash Is The New Bride

According to a Crypto Briefing report, ZEC is the most lucrative digital coin to mine at the moment. In fact, the report says that it is 400% more profitable to mine ZEC than Bitcoin. Explaining further, it says that even though they use the same consensus algorithm of Proof of Work (PoW), ZEC miners are likely to use Antminer Z9 mini to get a return of over $8,000 for their mining effort in a mining space of two years. In regards to Bitcoin miners using a GMO B2 setup, they could return $1,500 in two years, the report says.  

Comparison With Ether Mining

The report also compares ether mining to ZEC mining. Just like a BTC/ZEC mining comparison, ZEC mining is more lucrative. As a matter of fact, ZEC miners are likely going to achieve three times the returns of ether miners using mining rigs coupled with Antiminer E3 setups – pegging the difference in gains of roughly $2,800.

What This Means

This report is a wake-up call for all Bitcoin miners to branch out to ZEC, given that it can offer more profits when compared with the top cryptocurrencies in the crypto-ecosystem. The report also suggests that with these findings made public, there is likely going to be an increase in ZEC mining, which will, in the long run, make it pretty tough.      

Making Some Statistical Assumptions

Looking at ZCash, assuming that there is a 15% rise in difficulty which will ultimately yield 10% price rise in one month, this will lead to a potential drop in returns below $5,400 in a period of two years.  In comparison with Bitcoin, if the same changes apply, then Bitcoin miners will potentially earn $283 for using GMO B2 in the same period of time. This profit differential is a pointer to the fact that ZCash mining could be the future of cryptocurrency mining.