Cypherpunk Applied sciences launched what it calls the world’s largest Zcash mining fleet through a $33.33 million equity-based cope with Winklevoss Capital.
The transfer extends the agency from accumulating ZEC to producing it: already the biggest company holder with ~323,394 cash (1.92% of provide).
The launch caps a unstable run for the Winklevoss-backed Zcash wager.
Cypherpunk Applied sciences, the Winklevoss-backed privateness agency constructing a treasury across the privateness coin Zcash, has stood up what it calls the world’s largest Zcash mining operation, increasing past merely accumulating the privateness coin to producing it.
The Nasdaq-listed firm mentioned Monday it launched Cypherpunk Mining by way of a $33.33 million equity-based cope with Winklevoss Capital, buying the latest-generation Z15 Professional machines and their internet hosting agreements.
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The U.S.-based fleet is dwell now, working about 4.2 GSol/s of Equihash hashrate, which the corporate estimates at roughly 18% of the complete Zcash community. The acquisition was funded not with money however by way of a pre-funded warrant for about 43.3 million Cypherpunk shares, pegged to a inventory worth of $0.77.
Twins Cameron and Tyler Winklevoss mentioned the acquisition provides public-market traders a uncommon path to Zcash mining publicity, which had been laborious to come back by. Chief Funding Officer Will McEvoy framed mining as the following piece of the corporate’s privacy-focused technique, saying the ZEC it produces would fund additional development, further coin purchases, and new privacy-technology investments.
“Zcash hashrate has been concentrated in a small variety of miners, swimming pools, and ASIC makers—nearly all of it outdoors the USA,” Cameron Winklevoss posted on X following the announcement. “Cypherpunk is altering that. Our fleet is deployed throughout U.S. services, owned outright, and 0 debt and energy prices locked in low.”
Zcash hashrate has been concentrated in a small variety of miners, swimming pools, and ASIC makers — nearly all of it outdoors the USA.@cypherpunk is altering that. Our fleet is deployed throughout US services, owned outright, with zero debt and energy prices locked in low.
Privateness… https://t.co/itVPzmhloD
— Cameron Winklevoss (@cameron) August 18, 2026
The mining push feeds straight into Cypherpunk’s treasury ambitions. The corporate already ranks as the biggest company holder of ZEC, with about 323,394 cash, or roughly 1.92% of circulating provide, and is aiming to manage 5%.
With roughly 43,800 ZEC minted to miners every month, the agency mentioned mining accelerates that aim at manufacturing prices beneath the market worth. Cypherpunk additionally introduced on trade veteran Kevin Zhang, previously of Foundry, as head of mining.
The launch caps a unstable stretch for the corporate’s Zcash wager. Cypherpunk’s treasury automobile launched with Winklevoss backing and rode a pointy ZEC rally that noticed the coin climb whilst Bitcoin slipped in late 2025, with Zcash creator Zooko Wilcox becoming a member of the trouble on the tail finish of final yr.
However the experience hasn’t been clean: the inventory plunged practically 40% at one level amid a Zcash privateness bug, underscoring how tightly the agency’s fortunes are lashed to a single, thinly traded asset. Zcash presently trades for simply above $500, up roughly 7% within the final seven days, however down round 28% from its peak close to $700 final yr.
Cypherpunk famous its share worth is more likely to stay extremely correlated to ZEC, a threat that cuts each methods.
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