Cypherpunk Technologies has signed a 33.3 million dollar agreement with Winklevoss Capital to acquire an operational Zcash mining operation in the United States. The deal, announced on August 18, makes Cypherpunk the world’s largest Zcash mining operator, controlling approximately 18% of the total hashrate, equivalent to about 4.2 GSol/s. As of August 18, the company’s treasury already held 323,394 ZEC, representing 1.92% of the circulating supply, with a target of 5%. Direct mining allows Cypherpunk to accumulate ZEC at a production cost significantly lower than the market price, rather than buying ZEC on the spot market. This acquisition highlights the growing institutional interest in privacy-focused cryptocurrencies.
Source: Read the original article
