Cypherpunk Technologies has announced the launch of the Cypherpunk Mining division as part of a deal with Winklevoss Capital worth $33,330,000. The organization has acquired Z15 Pro mining machines with an Equihash hashrate of approximately 4.2 gigahashes per second, which accounts for about 18 percent of the total computing power of the Zcash network. The fleet of machines has already been deployed at facilities in the United States and put into operation. The purchase price was paid by issuing a prepaid warrant in favor of Winklevoss Treasury Investments for the acquisition of forty‑three million two hundred ninety thousand forty‑two common shares of Cypherpunk at a strike price of one‑tenth of a cent per share, which reflects the purchase price of the shares at seventy‑seven cents per security.

Cypherpunk Mining acquired assets from Moria Mining and Winklevoss Treasury Investments under an asset purchase agreement that included mining equipment and the relevant placement agreements. Kevin Zhang joined Cypherpunk as the head of the mining department. Previously, the specialist worked at Foundry and has been mining Bitcoin and Zcash since 2014 and 2016, respectively. Currently, Cypherpunk owns 323,394 ZEC, which is approximately 0.192% of the total number of coins in circulation. The company has stated its strategic goal of holding 5% of the total Zcash volume. According to the press release, miners are paid approximately forty‑three thousand eight hundred ZEC per month.

Cypherpunk Technologies also operates through its subsidiary, Leap Therapeutics, which develops methods for treating oncological diseases, including the drugs sirexatamab and FL‑501. The company positions itself as a technology organization investing in the development and implementation of solutions focused on protecting personal data. The Cypherpunk strategy involves accumulating Zcash and investing in privacy technologies, including ZODL – a specialized wallet for working with the private cryptocurrency Zcash.