As of September 2026, Zcash (ZEC) is among the most profitable coins for ASIC mining, with unusually strong mining economics following its recent price surge. Bitcoin (BTC) remains the most liquid and dependable choice for operators with efficient hardware and sub-8¢/kWh power. Litecoin mined together with Dogecoin (LTC/DOGE merged mining), Kaspa (KAS), and Ethereum Classic (ETC) round out the top five, though the last two now favor newer, more efficient ASICs. Every ranking below is based on current network data, not last year’s numbers, and it will keep changing, which is exactly why we show our math.
Why This List Changes Every Few Weeks
Profitability for ASIC mining hardware isn’t fixed. It moves with four variables that shift independently:
- Coin price: the single biggest swing factor, especially for volatile assets like ZEC or KAS
- Network difficulty / hashrate: as more miners join a network, everyone’s share of the reward shrinks
- Block reward and halving schedule: Bitcoin and Litecoin both step down rewards on a fixed schedule; Dogecoin does not
- Electricity rate: one of the most important variables you can directly control, and the reason hosting at 6–7.5¢/kWh instead of a 15¢/kWh residential rate can flip a coin from unprofitable to genuinely lucrative
Because of that, a most profitable coins list is a snapshot, not a permanent ranking. We’ve dated every figure below and linked to where we pulled it, and we’ll revisit this post as conditions shift. If you want live numbers for your own setup, our mining calculators pull current network data on demand.
1. Zcash (ZEC): The Current Profitability Leader
Algorithm: Equihash · ASIC hardware: Bitmain Antminer Z15 Pro (840 kSol/s, 2,780W)
Zcash has had an extraordinary run. A Grayscale spot ETF listed on NYSE Arca on August 25, 2026 pulled in fresh institutional demand, and ZEC has since traded above $1,200 for the first time since 2016, a move of more than 2,000% over the past year. That price action pushed Zcash’s network hashrate close to its all-time high as miners rushed to capture the upside.
We track this one closely because we host Z15 Pro units ourselves: at current network conditions, our own analysis puts the Z15 Pro at roughly $37–$42 in daily gross ZEC revenue (see our full Z15 Pro profitability breakdown). At ValueHash’s 6–7.5¢/kWh hosting rate, that machine’s daily power draw of about 67 kWh costs roughly $4–$5, leaving somewhere in the neighborhood of $32–$38 in net daily profit per unit, a margin most other ASIC-mineable coins simply cannot match right now.
The caution: These returns are rally-driven and can change quickly. A decline in ZEC’s price or a rise in network hashrate could compress margins significantly, so treat current profitability as a market snapshot rather than a long-term guarantee.
2. Bitcoin (BTC): The Benchmark for a Reason
Algorithm: SHA-256 · ASIC hardware: Antminer S21 XP (13.5 J/TH)
Bitcoin remains the deepest, most liquid, and established ASIC mining market. As of September 7, 2026, with BTC near $79,150 and network difficulty around 127.5T, an Antminer S21 XP hosted at $0.07/kWh can offer competitive mining economics, although actual profitability varies with Bitcoin’s price, network difficulty, pool fees, and hosting costs.
Efficiency is critical. Older S19-class hardware above 20 J/TH faces much tighter margins, while the 13.5 J/TH Antminer S21 XP is better positioned at competitive hosted power rates. At 270 TH/s and approximately 3,645W, the S21 XP combines substantial computing power with significantly better energy efficiency than older-generation ASICs.
The same ASIC can move from profitable to unprofitable simply because of its electricity cost, making power pricing one of the most important factors when evaluating Bitcoin mining operations.
Bitcoin’s key advantage is durability: deep liquidity, mature mining infrastructure, established pool support, and a strong secondary market for mining hardware.
3. Litecoin + Dogecoin (Merged Mining): Two Coins, One Machine
Algorithm: Scrypt · ASIC hardware: Bitmain Antminer L9
Litecoin and Dogecoin share the Scrypt algorithm, allowing a single ASIC to mine both through Dogecoin’s AuxPoW system without requiring additional mining hardware or proportional power consumption.
This dual-reward model keeps Scrypt mining competitive. Dogecoin can account for the majority of revenue generated by the same Scrypt hashrate, although the LTC/DOGE split changes with prices, block rewards, and network conditions.
The tradeoff: LTC and DOGE offer less liquidity or upside than BTC and ZEC, but their merged-mining model can provide a more diversified revenue stream from a single machine.
4. Kaspa (KAS): Still Popular, But Hardware Efficiency Matters More
Algorithm: kHeavyHash · ASIC hardware: Bitmain Antminer KS7 / KS5 Pro
Kaspa uses a blockDAG architecture based on GHOSTDAG, allowing blocks to be produced at a much higher frequency than on traditional proof-of-work networks such as Bitcoin. This has helped make KAS a popular target for specialized ASIC mining.
The catch in 2026: As specialized ASIC hashrate has expanded, mining economics have become increasingly dependent on hardware efficiency. The KS7 and KS5 Pro can offer a stronger cost structure than older-generation machines, but profitability still depends on KAS price, network difficulty, efficiency, pool fees, and electricity costs.
Kaspa remains an important ASIC-mining option, but efficient hardware and low-cost power are increasingly essential to maintaining viable margins.
5. Ethereum Classic (ETC): A Solid Fifth, if Your Power is Cheap
Algorithm: Etchash · ASIC hardware: Bitmain Antminer E9 Pro (~3.68 GH/s, ~2,200W)
Ethereum Classic uses the Etchash proof-of-work algorithm, which is supported by dedicated ASICs such as the Antminer E9 Pro. These machines are better suited to ETC mining than general-purpose GPU hardware when operating at scale.
The main challenge is the E9 Pro’s roughly 2.2 kW power draw. Electricity costs therefore have a major impact on profitability. Lower hosted power rates can make the economics workable, while expensive residential electricity can quickly consume most of the mining revenue.
For ETC, profitability ultimately comes down to the relationship between miner efficiency, network difficulty, ETC revenue, and electricity cost. Competitive power rates and reliable ASIC miner hosting can make a significant difference.
All Coins: Side-by-Side Comparison
| Coin | Algorithm | Representative ASIC | Approx. $/day* | Power Draw | Best Suited For |
| Zcash (ZEC) | Equihash | Antminer Z15 Pro | $37–$42 | 2,780W | Operators comfortable with volatility, chasing current momentum |
| Bitcoin (BTC) | SHA-256 | Antminer S21 XP | ~$10–$12 gross (270 TH/s) | ~3,645W | Long-term, liquidity-focused operations |
| Litecoin + Dogecoin | Scrypt | Antminer L9 | Varies by unit; +20–30% via merged DOGE | ~3,360W–3,570W | Predictable, lower-drama cash flow (Moderate) |
| Kaspa (KAS) | kHeavyHash | Antminer KS7 / KS5 Pro | Positive only on top-tier hardware | ~3,080W | Operators buying current-gen hardware only (Moderate–high) |
| Ethereum Classic (ETC) | Etchash | Antminer E9 Pro | $6–$20 (varies by coin mined) | 2,000–2,200W | Sites with sub-7¢/kWh power specifically |
Figures are illustrative snapshots from early-to-mid September 2026 network conditions and will shift with price and difficulty. Use ValueHash mining calculators for live numbers before committing capital.
What Actually Decides Profitability
Coin choice matters less than most new miners assume. Three factors do the real work:
- Electricity rate. This is the one lever you control completely, and it’s usually the difference between a coin being profitable and not. A machine that loses money at $0.15/kWh residential rates is often solidly profitable at $0.06–$0.075/kWh industrial rates, which is the range ValueHash’s Nebraska, Kansas, and New York facilities are built around.
- Hardware efficiency (J/TH, J/GH, or W/MH depending on algorithm). Newer-generation ASICs consistently out-earn older units on the same coin, even when the older unit has higher raw hashrate, because efficiency is what determines your electricity cost per unit of revenue.
- Uptime. A machine sitting offline for repairs, power fluctuations, or poor ventilation earns nothing regardless of how profitable the coin is on paper. This is the part of the equation most home miners underestimate, and it’s the core reason professionally managed ASIC miner hosting can improve economics by combining lower power rates with industrial cooling, monitoring, maintenance, and higher operational uptime.
This is also why “which coin should I mine” is really a secondary question behind “where is my hardware hosted.” The same Z15 Pro or S21XP will produce meaningfully different real-world returns depending on the power rate, cooling, and uptime of the facility it sits in.
The Ranking Will Change. The Rules Won’t.
Zcash tops this list today; six months ago it wouldn’t have cracked the top five. That’s the one constant in ASIC mining: the ranking moves, but what protects your margin never does: efficient hardware, cheap power, and uptime you can count on. Chase the hottest coin without those three in place, and a rally turns into regret. Get the infrastructure right first, and you’re positioned to capture whichever coin has its moment next.
Figures above reflect conditions as of September 10, 2026, and shift daily. Check live numbers on ValueHash’s Bitcoin, Litecoin, Dogecoin, Zcash, and Kaspa calculators, or schedule a free consultation to build an ASIC miner hosting plan around them.