Zcash has surged about 125% over the past month, driving miner revenue higher and pushing the network's hashrate to record levels. The privacy coin added another 18% today, leaving bitcoin mining as the second-most profitable PoW activity behind ZEC.
Bitcoin mining is re-emerging in several energy-rich Chinese provinces as individual and corporate miners tap cheap power and growing data center capacity, according to miners and industry data. The comeback is unfolding quietly despite China’s 2021 ban on domestic crypto mining.