Nasdaq-listed Cypherpunk Technologies (CYPH) has switched on what it calls the world’s largest Zcash mining fleet, deploying about 4.2 GSol/s of Equihash hashrate across the US, roughly 18% of the entire network.

The rigs were acquired through a $33.33 million equity-based transaction with Winklevoss Capital, run through a new subsidiary, Cypherpunk Mining. Mining veteran Kevin Zhang, who has mined bitcoin since 2014 and Zcash since 2016 and built some of North America's largest bitcoin facilities, joins as head of mining. Cypherpunk is already the largest corporate holder of ZEC, with 323,394 ZEC (about 1.92% of circulating supply).

The company plans to keep mining and accumulating toward a goal of holding 5% of all ZEC, deepening its influence over both the supply and the security of the privacy coin at a time of renewed interest in Zcash.

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