Cypherpunk Technologies Inc. has acquired a large-scale Zcash mining operation from Moria Mining, LLC, an affiliate of Winklevoss Capital, in a transaction valued at $33.33 million. This acquisition establishes Cypherpunk as the world's largest Zcash miner, with an operational hashrate of approximately 4.2 GSol/s, representing about 18% of the total Zcash network.
Key Details
- Transaction Terms: The aggregate purchase price of $33,333,333 was paid via a pre-funded warrant issued to Winklevoss Treasury Investments, LLC to purchase 43,290,042 shares of common stock at an exercise price of $0.001 per share.
- Assets Acquired: The company purchased 4,902 Bitmain Antminer Z15 Pro Zcash mining computers and their associated U.S.-based hosting agreements.
- Operational Impact: The acquired fleet provides approximately 4.2 GSol/s of hashrate, which represents an estimated 18% of the total Zcash network as of the announcement date.
- Management Update: In connection with the launch of its mining operations, the company has appointed industry veteran Kevin Zhang as Head of Mining.