Zcash hits $979 as mining profits surge
- Zcash (CRYPTO:ZEC) reached US$979 on 3 September, gaining 88.1% over 30 days.
- Network hashrate reached 91% of its record as mining activity increased.
- Bitmain’s Z15 Pro was estimated to earn US$59.09 daily at the reported ZEC price.
Zcash (CRYPTO:ZEC) reached an intraday high of US$979 on 3 September as rising prices lifted mining profitability.
ZEC gained 16.9% over 24 hours, 64.7% over two weeks and 88.1% over 30 days, according to the report.
The network’s hashrate reached 27.9 GSol/s on 28 August and was operating at 91% of its record level on 3 September.
Higher ZEC prices have increased mining returns, making Zcash’s Equihash network more attractive to specialised ASIC miners.
Bitmain’s Z15 Pro was estimated to generate US$59.09 per day, while the Z15 and Z15K were estimated at US$29.25 and US$35.14 respectively.
The Z15 Pro produces 840 KSol/s, twice the output of the original Z15, but both machines were unavailable through Bitmain when the report was published.
Zcash mining profitability could fall quickly if ZEC prices decline, potentially reducing the amount of computing power directed towards the network.
At the time of reporting, Zcash price was $945.87.
