As investor enthusiasm for bitcoin has faltered and also the cryptocurrency's value has down considerably since the beginning of the year, there has been less interest in mining BTC. This is coupled with rising prices related to mining based on power and hardware needed, among different issues. The result's that bitcoin mining has become less profitable than it had been earlier in the cryptocurrency boom. Now, a report from cryptocurrency tools supplier anything Crypto suggests that mining for BTC may be only a fraction as profitable as mining for zcash, a preferred altcoin.
Zcash Mining 4 Times more Profitable Than BTC
The data, according on by Crypto briefing, suggests that ZEC is the most profitable digital currency to mine at this time, with expected returns so much outpacing alternative proof-of-work coins like BTC and ethereum. ZEC miners using the Antminer Z9 mini may expect to return $8,000 on their investment in just 2 years, according to the report. This rate of return is considerably higher than those for competitor coins at this stage. Indeed, zcash expected profits over a two-year mining stint are nearly three times the next highest expected return, related to ether mining rigs operating with Antminer E3 setups. These miners might expect to bring in just $2,800 over a similar time frame. For bitcion miners, the outlook was even dimmer; the foremost lucrative rig was the GMO B2, and miners using this setup might expect to bring in simply $1,500 in returns over 2 years.
All told, mining Zcash with the most profitable instrument is over 4 times more profitable than mining bitcoin.
Rate of return may Diminish
As time goes on, anything Crypto expects that an increase in zcash mining problem and changes to the value of the token can bring the rate of return down. assuming a 15% increase in mining difficulty and 10% price increase over a monthly basis, the rate of return can fall to simply below $5,400 for the two year period. However, if bitcoin miners assume similar changes going forward, the most optimistic profit for bitcoin mining efforts with the GMO B2 was just $283.
It's unclear whether profitable Zcash mining can last for the predictable future, as there are a multitude of factors that confirm profitability.
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