Over the last month, daily mining profitability for ETH has more often than not exceeded ZEC. This has been a function of the rise in the price of ETH and a significant increase in ZEC mining difficulty (which far exceeded the relative increase in ETH difficulty). It is now more profitable to mine ETH and buy ZEC, than to mine directly.
Which does beg the question: Why has the ZEC network hashrate remained so high? I would have expected an equilibrium of sorts between ZEC and ETH profitability.
Data below for the equivalent of three GTX 1070 cards: 90 MH Ethash and 1.2 KSol Equihash.
For me, Zec’s been on average more profitable than Eth for many months. But my mini farm consists of Fury and 1080ti cards. So for me Zec is always going to be strong.
For people who bought farms of RX470/480, those cards are weighted towards Eth as Eth performance is very strong and Zex performance is poor.
Your graph shows 1070 which are (or where) Zec cards. If you did the same graph for RX card you’d find Eth would have been on top 99% of the time.
As it turn out, were all winnners as both Eth and Zec have been performing fantastically.
That makes sense. I don’t have much experience with AMD cards. Though I would still expect an equilibrium, all things being equal. i.e. more Nvidia-based mega-farms move to mining ETH vs ZEC until both coins are equally profitable.
a lot of people (including myself) are mining ZEC because we care about the network.
also, (imo) a lot of people believe zcash is historically cheap, whereas ETH’s hitting ATHs
I get the caring about the network part, but the folks bringing massive hashrate to the network don’t care . They’re doing it for immediate profit or long-term speculation. Both of these objectives would be better served mining ETH and selling it for ZEC.
. They’re doing it for immediate profit or long-term speculation. Both of these objectives would be better served mining ETH and selling it for ZEC.