Chlorophyte Chainsaw

Both tools chop the same trees, they just get there differently. This one bites faster per tick and gives up reach for it, so you stand closer to what you are cutting and clear a smaller radius per click. On a character carrying no mining speed gear at all, that trade comes out ahead comfortably.

Once you stack a proper digging loadout with the usual speed accessories and potions, the swing-based axes pull back in front. That is the real reason people keep the Greataxe instead, and it is worth knowing before you spend the ore.

The other half of the decision is what happens when something interrupts you. A greataxe swing lands as one heavy hit, which is at least usable if an enemy walks up mid-chop. A chainsaw dribbles out small hits and will not save you. Take this if you want a dedicated tool and already have a weapon you trust.