Zcash (ZEC) mining just got a whole lot juicier, thanks to a sharp spike in the coin’s price. According to Grayscale’s Head of Research, Zachary Pendle, Zcash miners are now raking in about double the rewards per mining rig compared to Bitcoin miners, and roughly four times more per megawatt-hour of electricity.

Grayscale’s Take

Pendle’s analysis looks at two key metrics for miners: earnings per device and per unit of energy consumed. On both counts, ZEC is outpacing Bitcoin right now—think “2x” per machine and “4x” per MWh compared to what Bitcoin miners are pulling in.

What It Means for the Network

When mining gets this profitable, it’s a magnet for new participants. Pendle says the boosted returns are driving more miners to join the Zcash network, ramping up its total hashrate as both new and existing rigs get fired up.

The ZEC Backdrop

This shift comes as ZEC’s price has taken off, pushing mining profitability to new highs. For the market, it’s a green light for more miners to jump into the Zcash ecosystem and scale up operations.