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Fairness-based transaction with Winklevoss Capital prompts 4.2 GSol/s of stay, U.S.-based hashrate; roughly 18% of the Zcash community; Business veteran Kevin Zhang joins as Head of Mining
CAMBRIDGE, Mass., Aug. 18, 2026 /PRNewswire/ — Cypherpunk Applied sciences Inc. (Nasdaq: CYPH) (“Cypherpunk”) right this moment introduced the launch of Cypherpunk Mining, which is now the biggest Zcash mining fleet on the earth, by means of a $33.33 million equity-based transaction with Winklevoss Capital. The fleet is on-line right this moment, with roughly 4.2 GSol/s of Equihash hashrate deployed throughout the USA, which presently represents roughly 18% of the full Zcash community.
“Up till now, traders have had restricted choices for Zcash mining publicity. With the acquisition of this mining fleet, Cypherpunk adjustments that,” stated Cameron and Tyler Winklevoss.
With the launch, Cypherpunk now gives public market traders publicity to each Zcash mining and treasury upside and continues Cypherpunk’s evolution right into a diversified privateness know-how firm.
“Following the enlargement of our ZEC treasury and funding in ZODL, Zcash mining is the following piece of the constellation of privateness applied sciences we’re assembling,” stated Will McEvoy, Chief Funding Officer of Cypherpunk. “The Zcash circulation from Cypherpunk Mining supplies monetary and operational flexibility to fund future development, the acquisition of further ZEC, and new privacy-preserving know-how investments.”
By means of this transaction with Winklevoss Capital, Cypherpunk Mining instantly turns into the Zcash community’s largest energetic fleet, presently deployed throughout U.S.-based amenities with industry-leading uptimes and internet hosting charges, accessing an addressable market valued at over $250 million per 12 months at present ZEC costs.
Strengthening Cypherpunk’s Treasury and the Zcash Community
Cypherpunk Mining now stands alongside Cypherpunk’s ZEC treasury and its privateness funding technique anchored by ZODL, essentially the most extensively used Zcash pockets. As roughly 43,800 ZEC are awarded to miners every month, mining meaningfully accelerates the corporate’s path to its goal of holding 5% of ZEC provide, at manufacturing prices which might be considerably decrease than spot worth.
As the biggest company holder of ZEC, presently with 323,394.38 ZEC representing roughly 1.92% of the circulating provide, Cypherpunk’s incentives are aligned with the community’s. The extra mining hashrate and decentralization strengthens Zcash community safety, and a safer Zcash makes Cypherpunk’s treasury extra priceless. Cypherpunk intends to function a bridge between Zcash miners, builders, and the broader ecosystem.
Kevin Zhang Joins as Head of Mining
Kevin Zhang joins Cypherpunk as Head of Mining, bringing greater than a decade of expertise on the entrance strains of Bitcoin and Zcash. Zhang started mining Bitcoin in 2014 and Zcash in 2016, constructed a number of of the biggest Bitcoin mining amenities in North America, and in 2019 led the primary energy plant conversion to Bitcoin mining on the continent. At Foundry, he constructed the biggest Bitcoin mining pool on the earth and deployed one of many largest crypto mining operations.
“Roughly 1,440 ZEC is awarded to miners every day, making Zcash mining extremely worthwhile. Even when the Zcash community hashrate will increase considerably, Zcash mining nonetheless out-earns AI colocation and Bitcoin mining at right this moment’s ZEC costs,” stated Kevin Zhang, Head of Mining at Cypherpunk. “The chance in Zcash mining exhibits a putting similarity to Bitcoin mining in 2016 and supplies thrilling development potential for Cypherpunk.”
Description of the Transaction
Cypherpunk and Cypherpunk Mining LLC (“Cypherpunk Mining”) entered into an Asset Buy Settlement with Moria Mining LLC and Winklevoss Treasury Investments, LLC pursuant to which Cypherpunk Mining acquired the newest era Z15 Professional machines with an combination hashpower of roughly 4.2 GSol/s together with their associated internet hosting agreements. The combination buy worth of $33.33 million was paid for by the issuance of a pre-funded warrant to Winklevoss Treasury Investments, LLC to buy 43,290,042 shares of frequent inventory of Cypherpunk at an train worth of $0.001 per share, reflecting a Cypherpunk frequent inventory buy worth of $0.77 per share.
About Cypherpunk
Cypherpunk Applied sciences is a privateness know-how firm. The Firm’s mission is to advance applied sciences that assure privateness for people on the web. Cypherpunk pursues this mission by means of two major methods: accumulating Zcash (ZEC); and investing in, buying, and constructing applied sciences that push the frontier of privateness ahead. Moreover, by means of its subsidiary Leap Therapeutics, the Firm is growing novel therapies for sufferers with most cancers, persevering with the event of sirexatamab and FL-501. For extra details about the Firm, go to our web sites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC which might be out there through EDGAR at http://www.sec.gov.
FORWARD-LOOKING STATEMENTS
This press launch consists of forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, as amended, Part 21E of the Securities Alternate Act of 1934, as amended. These forward-looking statements usually will be recognized by way of phrases akin to “anticipate,” “count on,” “plan,” “might,” “might,” “will,” “imagine,” “estimate,” “forecast,” “aim,” “challenge,” and different phrases of comparable which means. Ahead-looking statements tackle numerous issues together with statements referring to the Firm’s ZEC mining operations, the hashpower represented by the acquired Z15 Professional machines, the potential Zcash circulation or profitability of the Firm’s mining operations, the comparative economics or profitability of Zcash mining relative to different digital infrastructure or mining actions, the long run hashrate of the Zcash Community, the worth of the Firm’s ZEC holdings, the Firm’s goal proportion possession of the ZEC provide, the anticipated future market, worth, and liquidity of ZEC, the Firm’s anticipated use of Zcash circulation or different capital generated by its mining operations, the potential worth of the Firm’s funding in Zcash Open Growth Labs (“ZODL”), the macro and political situations surrounding Zcash or digital belongings, the Firm’s plan for worth creation and strategic benefits, market dimension and development alternatives, regulatory situations, aggressive place and the curiosity of different companies in related enterprise methods, technological and market tendencies, and future monetary situation and efficiency. Dangers and uncertainties of the Firm’s technique embody, amongst others: (a) dangers referring to the Firm’s operations and enterprise, together with the efficiency of the Firm’s Zcash mining machines and extremely unstable nature of the value of ZEC; (b) the danger that materials adjustments within the worth of ZEC, akin to decreases in worth, will end in vital adjustments to the Firm’s monetary statements, akin to unrealized losses on truthful worth of ZEC holdings, and diminished internet earnings or elevated internet loss; (c) the danger that materials adjustments within the hashrate of the Zcash Community, akin to will increase in hashrate, will end in vital adjustments to the Firm’s monetary statements, akin to diminished income, diminished gross margins, and diminished internet earnings or elevated internet loss; (d) the danger that the value of the Firm’s frequent inventory could also be extremely correlated to the value of ZEC; (e) the danger that the Firm will fail to comprehend the anticipated advantages of the ZEC mining operation or digital asset treasury technique; (f) dangers associated to the custody of our ZEC and our reliance on Gemini Area Station and its associates for buying and selling and custody companies; (g) adjustments in enterprise, market, monetary, political and regulatory situations; (h) dangers associated to elevated competitors within the industries by which the Firm does and can function; (i) dangers referring to vital authorized, industrial, regulatory and technical uncertainty relating to digital belongings usually; (j) dangers referring to the therapy of crypto belongings for U.S. and international tax functions; (ok) dangers associated to the Firm’s dependence on third-party internet hosting amenities and repair suppliers for its mining operations; and (l) the Firm’s skill to adjust to the continued itemizing necessities of the Nasdaq Capital Market.
New dangers and uncertainties might emerge every now and then, and it isn’t potential to foretell all dangers and uncertainties. No representations or warranties (expressed or implied) are made in regards to the accuracy of any such forward-looking statements. The Firm might not really obtain the forecasts disclosed in such forward-looking statements, and you shouldn’t place undue reliance on such forward-looking statements. Such forward-looking statements are topic to various materials dangers and uncertainties together with however not restricted to these set forth beneath the caption “Danger Components” within the Firm’s most up-to-date Annual Report on Type 10-Ok filed with the SEC, or as could also be included in different stories or info we file with the SEC, in addition to discussions of potential dangers, uncertainties, and different necessary elements in its subsequent filings with the SEC. Any forward-looking assertion speaks solely as of the date on which it was made. Neither the Firm, nor any of its associates, advisors or representatives, undertake any obligation to publicly replace or revise any forward-looking assertion, whether or not on account of new info, future occasions or in any other case, besides as required by legislation. These forward-looking statements shouldn’t be relied upon as representing the Firm’s views as of any date subsequent to the date hereof.
CONTACT:
Douglas E. Onsi
President & Chief Government Officer
Cypherpunk Applied sciences Inc.
617-714-0360
For Buyers:
Matthew DeYoung
Investor Relations
Argot Companions
212-600-1902
leap@argotpartners.com
For Media:
Jacqueline Ortiz Ramsay
It Issue Methods
954-294-3249
jacqueline@itfactorstrategies.com
