Skip to main content
Grafa
Cryptocurrency
Cypherpunk adds $33.3M Zcash mining fleet
Image for illustrative purposes only. Not a real photo.

Cypherpunk adds $33.3M Zcash mining fleet

Share
  • Cypherpunk acquired a Zcash mining fleet from Winklevoss Capital for $33.33 million.
  • The fleet produces about 4.2 GSol/s, equal to roughly 18% of Zcash network hashrate.
  • Cypherpunk now holds 323,394 ZEC and aims to reach 5% of circulating supply.

Cypherpunk Technologies acquired a Zcash mining fleet for $33.33 million.

The fleet is already operating across US facilities and produces about 4.2 GSol/s, or 18% of Zcash’s hashrate.

The deal expands Cypherpunk’s Zcash strategy after its treasury reached 323,394 ZEC, equal to about 1.9% of supply.

Cypherpunk said it wants to increase its ZEC holdings to 5% of the cryptocurrency’s circulating supply.

The company has argued that Zcash mining offers better economics than Bitcoin mining and AI data centres under current conditions.

Those economics depend on ZEC’s price, network hashrate, mining difficulty and operating costs, according to the report.

Zcash (CRYPTO:ZEC) has risen more than 1,300% over the past 12 months despite a recent correction, according to CoinMarketCap data cited by Cointelegraph.

At the time of reporting, Zcash price was $508.94.

Frequently asked questions