Cypherpunk launches Zcash mining fleet controlling 18% of network hashrate

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. The expansion adds mining to Cypherpunk’s existing Zcash holdings, which currently stand at 323,394 ZEC, representing about 1.9% of the cryptocurrency’s circulating supply.

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