Cypherpunk launches Zcash mining fleet controlling 18% of network hashrate
The $33.3 million Winklevoss Capital deal expands Cypherpunk’s ZEC strategy as it targets 5% ownership of the cryptocurrency’s circulating supply.
Cypherpunk Technologies is expanding its footprint in the Zcash ecosystem, launching what it says is the world’s largest Zcash mining operation after acquiring a mining fleet from Winklevoss Capital, signaling growing institutional interest in the privacy-focused network.
Cypherpunk said Tuesday that it acquired the fleet through an equity-based transaction valued at $33.33 million. The mining operation is already online at facilities across the United States, producing roughly 4.2 GSol/s, or about 18% of the Zcash network’s current hashrate.
If the company’s figures are accurate, the transaction gives a single publicly traded company a significant share of Zcash’s mining capacity.