Cypherpunk agrees to buy Zcash mining fleet for $33.3 million in pre-funded warrant
On August 17, 2026, Cypherpunk agreed to buy mining equipment and hosting agreements from Moria Mining, LLC for $33,333,333, paid by issuing a pre-funded warrant to Winklevoss Treasury Investments, LLC (WTI) for 43,290,042 common shares. The deal adds Zcash mining capacity but also commits a large block of new shares to an affiliate of the seller, which shareholders should weigh against the expanded operations.
Key points
- Purchase price is $33,333,333 for Z15 Pro mining machines with about 4.2 GSol/s of hashpower and related hosting agreements.
- Payment is a pre-funded warrant for 43,290,042 shares at an exercise price of $0.001 per share; the company says this reflects a $0.77 per share common stock price.
- Warrant exercise is capped at 19.99% beneficial ownership; the company will seek stockholder approval at its next annual meeting for issuance above 5,377,442 shares.
- WTI, an affiliate of the seller, owns 19.9% of the company's stock and has appointed William McEvoy and Khing Oei to the board.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 18, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.