Winklevoss-Backed Cypherpunk Launches 'World's Largest' Zcash Mining Fleet
Cypherpunk Technologies, backed by Winklevoss Capital, has launched what it says is the largest Zcash mining operation, moving from simply buying ZEC to producing it. The Nasdaq-listed firm created Cypherpunk Mining through a $33.33 million equity deal that funded latest-generation Z15 Pro miners and hosting agreements. The U.S.-based fleet is live with about 4.2 GSol/s of Equihash hashrate, estimated at roughly 18% of the Zcash network. The company says mining supports its treasury strategy: it already holds about 323,394 ZEC, or 1.92% of circulating supply, and wants to reach 5%. Leadership says mined coins will fund further ZEC purchases and privacy-tech investments. Cypherpunk also hired mining veteran Kevin Zhang. The move comes during a volatile Zcash rally and highlights the firm’s strong dependence on ZEC, with its stock likely to remain highly correlated to the coin’s price.
