Cypherpunk Expands Zcash Strategy With $33 Million Mining Push

Cypherpunk Technologies has launched a Zcash mining operation, adding production capacity to its treasury strategy. The Nasdaq-listed company has about 4.2 GSol/s across U.S. facilities, representing 18% of Zcash’s network hashrate. 

The expansion follows a $33.33 million investment from Winklevoss Capital, which financed the mining equipment. Additionally, Cypherpunk appointed mining veteran Kevin Zhang to lead the operation.

Mining Supports Treasury Growth

The mining is a means to the company to boost their ZEC number and also to obtain operational cash flow. Thus, mining income may pave the way for additional spending and investments in privacy-oriented technologies.

Cypherpunk controls 323,394 ZEC, equal to approximately 1.92% of circulating supply. Moreover, management aims to accumulate 5% of Zcash’s total supply over time.

However, the expansion follows…

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