▼Mining Power Concentrates in Corporate Hands

Score history

Daily conviction score, 0 to 100. Higher means the thesis is more strongly corroborated.

Now 24 · -2 since Aug 27 · ranged 22 to 24

Showing the last few days. Unlock full score history.

Why the conviction moved

• Aug 19
  Strengthened +7

  Cypherpunk Technologies now controls roughly 18% of Zcash hashrate, acquired with a warrant rather than cash, on top of 323,394 ZEC held (close to 2% of circulating supply). A single listed company holding both a large hashrate share and a large supply share on a mid-cap chain is the concentration mechanism the thesis names, and the warrant financing shows how cheaply the position was assembled.

Source trail

• Supporting · August 19, 2026

  One Listed Company Now Controls About 18% of Zcash Mining Power

  Cypherpunk Technologies now controls roughly 18% of Zcash hashrate, acquired with a warrant rather than cash, on top of 323,394 ZEC held (close to 2% of circulating supply). A single listed company holding both a large hashrate share and a large supply share on a mid-cap chain is the concentration mechanism the thesis names, and the warrant financing shows how cheaply the position was assembled.

  CryptoSlate