Mentioned:
Cypherpunk Technologies has a new ambition: mining Zcash.
What’s happening:
- Cypherpunk Technologies (NASDAQ: CYPH) has acquired a fleet of Z15 Pro machines for mining Zcash for $33.3M USD in an all stock deal
By the numbers:
- Cypherpunk Technologies will issue roughly 43.3M common shares to acquire the new Zcash mining fleet
Why it matters:
- Cypherpunk Technologies has publicly stated their new acquisition represents the single largest Zcash mining operation in the world
Going deeper:
- The fleet of Z15 Pro machines Cypherpunk Technologies has acquired represents roughly 18% of all the computing power on the Zcash network
- Gemini Space Station (NASDAQ: GEMI) co-founders Cameron and Tyler Winklevoss are the largest shareholders of Cypherpunk Technologies and the sole financiers of the company
- Cypherpunk Technologies currently hold 323,394 Zcash tokens directly as an asset
The intrigue:
- The Zcash mining fleet acquired by Cypherpunk Technologies was owned by Cameron and Tyler Winklevoss’ family office Winklevoss Capital
