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Cypherpunk expands Zcash mining after $33.33M Winklevoss deal

Cypherpunk says the new fleet is online in the US and already produces about 4.2 GSol/s, or roughly 18% of the Zcash network hashrate.

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Cypherpunk Technologies has launched what it describes as a major expansion of its Zcash mining operation after acquiring a mining fleet from Winklevoss Capital in an equity-based transaction valued at $33.33 million, according to Cointelegraph. The company said the fleet acquisition is designed to support its ZEC strategy as it targets eventually holding 5% of Zcash’s circulating supply.

Cypherpunk said the mining operation is already running at facilities across the United States, producing roughly 4.2 GSol/s, which it estimates is about 18% of the Zcash network’s current hashrate. If Cypherpunk’s figures are accurate, the expansion would concentrate a significant portion of the network’s mining capacity within a single publicly traded company.

The company also reported that it currently holds 323,394 ZEC, about 1.9% of Zcash’s circulating supply, and said Zcash mining can offer more attractive economics than Bitcoin mining or AI data center workloads under current market conditions. It added that those economics depend on variables including ZEC’s price, network hashrate, mining difficulty and operating costs.

Cointelegraph noted that the push follows a sharp rise in ZEC during the second half of 2025, when renewed interest in privacy-focused cryptocurrencies helped propel the asset higher. It also referenced Zcash’s Ironwood upgrade on July 28, which introduced a new shielded transaction protocol to replace the Orchard pool and improve the network’s security architecture.

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