Cypherpunk Dominates Zcash Mining with $33M Fleet Acquisition

Cypherpunk Technologies has made a major move in the Zcash mining space by acquiring a 4.2 GSol/s mining fleet for $33.33 million, giving them about 18% of the network's total computing power.

The acquired Bitmain Z15 Pro machines produce roughly 7,800 ZEC per month and are currently operating at hosting facilities across the United States.

Cypherpunk paid through a pre-funded warrant covering 43.29 million common shares, valuing their stock at $0.77 per share.

Will McEvoy, chief investment officer at Cypherpunk, said in an X post that the business was already generating positive cash flow and that they plan to add their own data center and power assets over time.