Cypherpunk launches Zcash mining fleet controlling 18% of network hashrate
Cypherpunk Technologies expanded its Zcash position by acquiring Winklevoss Capital’s mining fleet in an equity deal valued at $33.33 million. The fleet is already operating across U.S. facilities and produces about 4.2 GSol/s, which Cypherpunk says equals roughly 18% of Zcash’s current network hashrate. If accurate, this gives one publicly traded company a sizable share of Zcash mining power. The company also holds 323,394 ZEC, about 1.9% of circulating supply, and aims to eventually own 5% of all ZEC. Cypherpunk argues Zcash mining currently offers better economics than Bitcoin mining or AI data center workloads, though profitability depends on ZEC price, difficulty, hashrate, and costs. The move comes after ZEC surged in 2025 amid renewed interest in privacy coins. Zcash’s recent Ironwood upgrade also strengthened shielded transaction security after a flaw in the Orchard pool raised concerns about possible counterfeit ZEC creation.
