Nasdaq-listed firm expands into Zcash production, securing 18% of network hashrate via equity-based deal.
Cypherpunk Technologies launched a Zcash mining fleet valued at $33.33 million through an equity deal with Winklevoss Capital. The operation, now live, controls approximately 18% of the Zcash network’s Equihash hashrate, or 4.2 GSol/s.
The company previously held 323,394 ZEC, about 1.92% of the total supply, as part of its privacy-focused treasury strategy. The new fleet was funded via 43.3 million shares issued at $0.77 per share, avoiding cash outlay.
Winklevoss Capital stated the move provides public investors rare exposure to Zcash mining, a sector with limited access. The produced ZEC will fund further growth and additional coin purchases.