Cypherpunk hires SinoCrypto’s Kevin Zhang as Head of Mining to lead world’s largest Zcash fleet

Cypherpunk Technologies (Nasdaq: CYPH) just made a very loud bet on a very privacy-focused coin. The company announced the launch of Cypherpunk Mining on August 18, claiming to have built the world’s largest Zcash mining fleet, with industry veteran Kevin Zhang stepping in as Head of Mining to run the operation. Zhang, who posts under the handle @SinoCrypto, brings over a decade of experience in cryptocurrency mining. His resume includes stints as SVP of Mining Strategy at Foundry and Head of Asia at Nakamoto Holdings. The numbers behind the fleet Cypherpunk’s mining operation is running a live US-based Equihash hashrate of 4.2 GSol/s. That figure represents approximately 18% of the entire Zcash network. The fleet was funded through a $33.33 million equity-based transaction with Winklevoss Capital, the investment arm of the Gemini-founding twins. Cypherpunk also claims to hold the largest public corporate Zcash treasury, with hundreds of thousands of ZEC acquired at average prices in the $200 to $300-plus range. The company’s thesis is straightforward: Zcash mining today looks a lot like Bitcoin mining did in 2016. Zhang made this comparison directly in his announcement, framing th...