Cypherpunk becomes largest Zcash miner in $33M deal

Cypherpunk Technologies has acquired a 4.2 GSol/s Zcash mining fleet for $33.33 million, giving the Nasdaq-listed company about 18% of the network’s total computing power. Summary The acquired Bitmain Z15 Pro fleet produces roughly 7,800 ZEC per month. Cypherpunk paid through a pre-funded warrant covering 43.29 million common shares. The equipment operates at hosting facilities across the United States. Cypherpunk holds 323,394 ZEC, equal to about 1.92% of the circulating supply. Cypherpunk Technologies said on Aug. 18 that it had launched Cypherpunk Mining after purchasing the equipment and related hosting agreements from entities affiliated with Winklevoss Capital. The fleet consists of Bitmain Z15 Pro machines already operating at facilities across the United States. With an aggregate Equihash computing capacity of about 4.2 GSol/s, the company described the operation as the largest active Zcash mining fleet in the world. About 43,800 ZEC are distributed to miners across the network each month, according to the company. Cypherpunk’s 18% share of the current hashrate puts its estimated production at roughly 7,800 ZEC per month, although the actual amount can change with network d...