Cypherpunk Zcash Mining Fleet Now Controls 18% of Global Hashrate

Cypherpunk Technologies has flipped the script on its Zcash strategy. Instead of simply stockpiling ZEC, the Nasdaq-listed privacy firm has switched on what it calls the world’s largest Cypherpunk Zcash mining operation, a move that turns the company from a passive holder into an active producer of the privacy coin it has bet its treasury on.

Key takeaways

• Cypherpunk Technologies launched the world’s largest Zcash mining fleet through a $33.33 million equity-based deal with Winklevoss Capital.
• The fleet runs on Z15 Pro machines and already produces about 4.2 GSol/s of Equihash hashrate, roughly 18% of the entire Zcash network.
• Cypherpunk remains the largest corporate holder of ZEC, with around 323,394 coins, equal to about 1.92% of circulating supply, and is targeting 5%.
• The deal was funded through pre-funded warrants for about 43.3 million Cypherpunk shares priced at $0.77 each, not cash.
• Operations are based entirely in the United States, part of a stated push to bring more Zcash hash power onshore.

Cypherpunk Launches World’s Largest Zcash Mining Fleet

Cypherpunk Technologies confirmed this week that its new mining arm, Cypherpunk Mining, is already live and producing ZEC. The company describes the buildout as the largest Zcash mining fleet anywhere, a claim built on both the scale of hardware acquired and the speed at which it went from announcement to operation.

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