Cypherpunk Expands Zcash Strategy With $33 Million Mining Push
Cypherpunk Technologies has launched a Zcash mining operation, adding production capacity to its treasury strategy. The Nasdaq-listed company has about 4.2 GSol/s across U.S. facilities, representing 18% of Zcashโs network hashrate.
The expansion follows a $33.33 million investment from Winklevoss Capital, which financed the mining equipment. Additionally, Cypherpunk appointed mining veteran Kevin Zhang to lead the operation.
Mining Supports Treasury Growth
The mining is a means to the company to boost their ZEC number and also to obtain operational cash flow. Thus, mining income may pave the way for additional spending and investments in privacy-oriented technologies.
Cypherpunk controls 323,394 ZEC, equal to approximately 1.92% of circulating supply. Moreover, management aims to accumulate 5% of Zcashโs total supply over time.
However, the expansion followsโฆ
Read The Full Article Cypherpunk Expands Zcash Strategy With $33 Million Mining Push On Coin Edition.
