The market is falling, but $ZEC is holding in the green. Here’s the number that caught my attention 👇
Today BTC, ETH, and SOL went down, but Zcash is still showing relative strength.
And today there appeared an interesting figure from Zcash mining.
Cypherpunk Technologies bought a ZEC mining farm about 5 weeks ago for $33 million.
At the current ZEC price, its estimated gross annual revenue run-rate is about $125 million.
That’s roughly 3.8 times more than the initial equipment cost.
But there’s an important caveat.
This isn’t profit. The figure doesn’t account for electricity, hosting, hardware, and mining pool fees.
And competition is already increasing: the company’s share of Zcash network computing power has dropped from roughly 18% to 15%.
For me, what’s interesting here isn’t just the ZEC price.
If high profitability attracts more miners, it’s worth keeping an eye on how the network hashrate and the mining difficulty will change.
Those two will show how quickly competition is catching up with the price growth.
#zec #Zcash
Today BTC, ETH, and SOL went down, but Zcash is still showing relative strength.
And today there appeared an interesting figure from Zcash mining.
Cypherpunk Technologies bought a ZEC mining farm about 5 weeks ago for $33 million.
At the current ZEC price, its estimated gross annual revenue run-rate is about $125 million.
That’s roughly 3.8 times more than the initial equipment cost.
But there’s an important caveat.
This isn’t profit. The figure doesn’t account for electricity, hosting, hardware, and mining pool fees.
And competition is already increasing: the company’s share of Zcash network computing power has dropped from roughly 18% to 15%.
For me, what’s interesting here isn’t just the ZEC price.
If high profitability attracts more miners, it’s worth keeping an eye on how the network hashrate and the mining difficulty will change.
Those two will show how quickly competition is catching up with the price growth.
#zec #Zcash