One of the World’s Largest Mining Companies Launches Its First Mining Pool for a Surprise Altcoin – “Significant Interest from Institutional Investors”

Foundry, a leading company in the cryptocurrency mining field, has officially launched its new mining pool for the privacy-focused cryptocurrency Zcash (ZEC).

This move by the company is seen as a strong indicator of the growing interest, particularly from institutional investors, in assets known as “privacy coins.”

Foundry CEO Mike Colyer stated that the launch of the Zcash mining pool was driven by increasing demand from large-scale investors. According to Colyer, the new pool quickly attracted a large number of institutional clients, reaching a remarkable size and accounting for approximately one-third of the total hash power on the network. This indicates that a significant portion of new Zcash mining is now taking place through Foundry.

Launched in 2016, Zcash is known for offering transaction privacy thanks to its zero-knowledge proof technology. This structure, which allows users to optionally share data, also provides an advantage in terms of compliance with regulatory bodies. Therefore, Zcash stands out as a more attractive alternative for banks and large financial institutions, especially compared to competitors like Monero.

*This is not investment advice.