Cypherpunk launches large-scale ZEC mining with Winklevoss Capital backing

Nasdaq-listed Cypherpunk Technology (CYPH), a ZEC-accumulating company, has launched its subsidiary Cypherpunk Mining through a $33.33 million stock deal with Winklevoss Capital, The Block reported. The company has completed the deployment of about 4.2 GSol/s of hash rate across the United States, representing roughly 18% of the ZEC network’s hash rate. Cypherpunk currently holds about 323,394 ZEC, or around 1.92% of total circulating supply, and aims to increase that to 5% of total supply. It plans to expand its ZEC treasury and continue investing in privacy technology using roughly 43,800 ZEC in monthly mining rewards secured through the operation.