Cantor Raises Cypherpunk Price Target to $1.60 Amid Mining Expansion

Cypherpunk Technologies stock () has seen its price target raised by Cantor Fitzgerald to $1.60 from $0.90, while maintaining an Overweight rating.

The firm cited the company's recent announcement of Cypherpunk Mining's launch and the acquisition of what it describes as the world's largest Zcash mining fleet in a $33.33 million all-stock transaction with Winklevoss Capital.

The deal brings approximately 4.2 GSol/s of Equihash hashrate online immediately across U.S.-based facilities, representing about 18% of the entire Zcash network's hashpower.