Zcash Tops $1,000 as ETF Inflows Rise and Miners Increase Exposure

Zcash’s ZEC token traded as high as $1,023 on September 4, 2026, extending its monthly gains to around 94% and pushing its market capitalisation toward $17 billion. The move above $1,000 came as the newly listed Grayscale Zcash ETF accumulated approximately $34.4 million in net inflows and estimated Zcash network computing power moved above 30 GSol/s.

The readings point to activity across both an exchange-traded fund vehicle and the mining network, although they measure different things: ETF net inflows track demand for fund shares, while solrate estimates computing power securing the network.

Data Snapshot

ZCSH draws approximately $34.4 million after NYSE Arca debut

Grayscale’s Zcash ETF, trading under the ticker ZCSH, began trading on NYSE Arca on August 25, 2026, following the conversion of Grayscale’s Zcash Trust, according to The Block.

Since that debut, ZCSH recorded approximately $34.4 million in net inflows. Its strongest day was September 2, 2026, when the fund attracted $12.6 million, The Block reported.

The fund’s launch gave investors a listed route to Zcash exposure just days before ZEC’s September 4 intraday high. The available figures establish the timing of the ETF flows and the token’s advance, but do not by themselves show that the flows caused the price move.

Zcash mining hardware supporting the article’s discussion of rising network computing power and mining economics. — Source: TheEnergyMag

Solrate rises above 30 GSol/s as ZEC advances

According to ZcashInfo, Zcash’s solrate briefly exceeded 30 GSol/s by September 4, up from around 25 GSol/s in late August.

Solrate is estimated network computing power. The higher reading occurred while ZEC was advancing sharply during the month, but the measure does not identify which miners added capacity or directly measure the capital committed to mining equipment.

It is also separate from reported ZCSH inflows: solrate measures mining activity on the network, whereas those inflows measure ETF activity.

Antminer Z15 Pro revenue falls despite the price record

The rise in network computing power created a less favourable outcome for the named mining machine in the available data. Bitmain’s Antminer Z15 Pro generated $708 in gross revenue per MWh of electricity on Friday, compared with $727.30 per MWh on August 24, 2026 — about 3% less — according to TheEnergyMag.

That comparison is gross revenue per MWh rather than an all-in profitability figure, so it does not account for a miner’s individual power price, hardware costs or other operating expenses. Still, it shows that the price record did not translate into higher revenue per unit of electricity for the Antminer Z15 Pro over the stated period.

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