Cypherpunk launches Zcash mining fleet controlling 18% of hashrate

A single corporate treasury controlling 18% of a proof-of-work network's hashrate is a governance-relevant concentration, not just a mining statistic, and it sits awkwardly against Zcash's privacy-first ethos. The stated ambition to accumulate 5% of circulating supply turns this into a dual claim on both block production and float, which is the part worth tracking. Whether other institutions follow into privacy assets, or whether the concentration itself becomes a point of contention within the Zcash community, is the open question.