Cypherpunk launches Zcash mining fleet controlling 18% of network hashrate
The $33.3 million Winklevoss Capital deal expands Cypherpunk’s ZEC strategy as it targets 5% ownership of the cryptocurrency’s circulating supply.
Cypherpunk Technologies has acquired a $33.3 million mining fleet from Winklevoss Capital, establishing the world's largest Zcash mining operation. This expansion aims to achieve 5% ownership of the cryptocurrency's circulating supply. The mining operation, now operational across the United States, generates approximately 4.2 GSol/s, accounting for around 18% of Zcash's current network hashrate.
Consequently, this single publicly traded company now controls a substantial portion of Zcash's mining capacity. Cypherpunk's existing Zcash holdings amount to 323,394 ZEC, representing about 1.9% of the cryptocurrency's circulating supply. The company intends to hold 5% of the ZEC supply in the future. Regulatory experts highlight that Zcash mining's economic attractiveness hinges on factors such as ZEC price, network hashrate, mining difficulty, and operating costs.
This strategic move comes after a significant price surge in ZEC during the second half of 2025, driven by increased interest in privacy-focused cryptocurrencies. Despite its recent correction, Zcash has experienced a remarkable 1,300% growth over the past year.
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