Cypherpunk Mines Its Way to Largest Zcash Fleet with $33.3 Million Deal
Cypherpunk Technologies Inc., listed on Nasdaq under the ticker CYPH, has launched Cypherpunk Mining, now the world's largest Zcash mining fleet. This achievement was made possible through a $33.33 million equity-based transaction with Winklevoss Capital.
The mining fleet is currently deployed across U.S.-based facilities and represents approximately 18% of the total Zcash network, boasting an impressive 4.2 GSol/s of Equihash hashrate.
Kevin Zhang, a seasoned industry veteran, has joined Cypherpunk as Head of Mining, bringing over a decade of experience in Bitcoin and Zcash mining to the table.
Zhang emphasized the profitability of Zcash mining, stating that it currently out-earns AI colocation and Bitcoin mining at today's prices. He also noted the striking similarity between Zcash mining opportunities and those seen during the early days of Bitcoin mining in 2016.