Zcash Treasuries
Tracking Zcash adoption by Cypherpunk organizations
ZEC Spot $1,265.82
24h +7.5% 3m +195.9% 1y +2,520%
LIVE TERMINAL
18:01:23 UTC
Total ZEC held by public entities 4.62% supply
781,294
Absorbed by balance sheets
Total USD value +7.51% 24h
$989.0M
Spot: $1,265.82 3m +195.9% 1y +2,520%
Number of entities Verified
3
Public & regulated vehicles
YTD change in holdings +16.6%
+111,264 ZEC
Growth since 31.12.2025
Macro supply absorption (21M max cap scarcity)
Circulating: 16,925,400 ZEC
Corporate treasuries: 781,294 ZEC (4.62%)
Shielded supply: 5,038,644 ZEC (29.77%)
Liquid public float: 11,105,462 ZEC (65.61%)
Corporate & institutional treasuries
ZEC holdings
452,800 ZEC
USD value
$573.2M
Avg. purchase price
Avg: —
Unrealized P&L
mNAV
0.99x
Zcash per share
0.080900 ZEC
ZEC holdings
328,494 ZEC
USD value
$415.8M
Avg. purchase price
Avg: $335.89
Unrealized P&L
+276.9%
mNAV
0.68x
Fully diluted mNAV
1.07x
Zcash mined Q2
33,646 ZEC
Realized hashrate
4.0 GSol/s
Mining costs
±$70
Unrealized P&L
ZEC holdings
USD value
Cumulative corporate holdings of Zcash
Full page ↗
Related corporate filings
Full page ↗
HSCS (EXP. TUDE) 2026-09-04
Official SEC Edgar filing accession #0001213900-26-097755. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-09-04
Official SEC Edgar filing accession #0001213900-26-097415. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-09-03
Official SEC Edgar filing accession #0001213900-26-097294. Form type: DEFA14A.
CYPH 2026-09-02
Official SEC Edgar filing accession #0001104659-26-104753. Form type: 8-K.
HSCS (EXP. TUDE) 2026-09-02
Official SEC Edgar filing accession #0001213900-26-096769. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-09-01
Official SEC Edgar filing accession #0001213900-26-096292. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-31
Official SEC Edgar filing accession #0001213900-26-095790. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-31
Official SEC Edgar filing accession #0001213900-26-095376. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-28
Official SEC Edgar filing accession #0001213900-26-095171. Form type: DEFA14A.
CYPH 2026-08-27
Official SEC Edgar filing accession #0001104659-26-102467. Form type: 4.
HSCS (EXP. TUDE) 2026-08-27
Official SEC Edgar filing accession #0001213900-26-094436. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-25
Official SEC Edgar filing accession #0001213900-26-093573. Form type: DEFA14A.
CYPH 2026-08-24
Official SEC Edgar filing accession #0001104659-26-100330. Form type: 4.
HSCS (EXP. TUDE) 2026-08-24
Official SEC Edgar filing accession #0001213900-26-093093. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-21
Official SEC Edgar filing accession #0001213900-26-092687. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-20
Official SEC Edgar filing accession #0001213900-26-091895. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-20
Official SEC Edgar filing accession #0001213900-26-091893. Form type: 8-K.
CYPH 2026-08-19
Official SEC Edgar filing accession #0002092596-26-000002. Form type: 4.
CYPH 2026-08-19
Official SEC Edgar filing accession #0002085726-26-000002. Form type: SCHEDULE 13D/A.
CYPH 2026-08-19
Official SEC Edgar filing accession #0001231919-26-000951. Form type: 4.
HSCS (EXP. TUDE) 2026-08-19
Official SEC Edgar filing accession #0001213900-26-091781. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-19
Official SEC Edgar filing accession #0001213900-26-091764. Form type: 8-K/A.
HSCS (EXP. TUDE) 2026-08-19
Official SEC Edgar filing accession #0001213900-26-091725. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-19
Official SEC Edgar filing accession #0001213900-26-091720. Form type: 8-K.
CYPH 2026-08-19
The Nasdaq-listed privacy firm launched Cypherpunk Mining through a $33.33 million equity deal with Winklevoss Capital, adding roughly 18% of the Zcash network's hashrate to acc...
HSCS (EXP. TUDE) 2026-08-19
Shares issued at $2.43, a 22% premium to the closing price on the purchase date, with Fortitude receiving no additional merger consideration in respect of the investmentFortitud...
CYPH 2026-08-18
Official SEC Edgar filing accession #0001104659-26-098120. Form type: 8-K.
HSCS (EXP. TUDE) 2026-08-18
Official SEC Edgar filing accession #0001213900-26-091303. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-18
Official SEC Edgar filing accession #0001213900-26-091301. Form type: 8-K.
CYPH 2026-08-12
Official SEC Edgar filing accession #0001104659-26-094449. Form type: 10-Q.
CYPH 2026-08-12
Official SEC Edgar filing accession #0001104659-26-094445. Form type: 8-K.
CYPH 2026-08-12
Leap Therapeutics, Inc., the biotechnology subsidiary of Cypherpunk Technologies Inc. (Nasdaq: CYPH), today announced the publication of results from the randomized Phase 2 DeFi...
HSCS (EXP. TUDE) 2026-08-07
Official SEC Edgar filing accession #0001213900-26-086777. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-08-07
Official SEC Edgar filing accession #0001213900-26-086773. Form type: 8-K.
HSCS (EXP. TUDE) 2026-08-06
Official SEC Edgar filing accession #0001213900-26-086221. Form type: DEFA14A.
HSCS (EXP. TUDE) 2026-07-29
Company believes proposed Fortitude Mining Holdings business combination represents a significant value creation opportunity for the Company’s shareholders Fiscal 2026 saw the f...
HSCS (EXP. TUDE) 2026-07-28
FAIRPORT, N.Y., July 28, 2026--Fortitude expands its owned power advantage by energizing its first greenfield build at an attractive power cost.
HSCS (EXP. TUDE) 2026-07-28
The Digital Currency Group-owned Zcash miner brought its first greenfield site online as it looks to lower mining costs and advance plans to become a public company.
HSCS (EXP. TUDE) 2026-07-23
Company believes proposed Fortitude merger represents a significant opportunity for the Company’s shareholders; preliminary proxy statement in connection with the Proposed Trans...
CYPH 2026-07-21
Official SEC Edgar filing accession #0001104659-26-085399. Form type: 8-K.
CYPH 2026-07-02
Official SEC Edgar filing accession #0001104659-26-080497. Form type: 4.
CYPH 2026-07-02
Official SEC Edgar filing accession #0001104659-26-080496. Form type: 4.
CYPH 2026-07-02
Official SEC Edgar filing accession #0001104659-26-080495. Form type: 4.
CYPH 2026-07-02
Official SEC Edgar filing accession #0001104659-26-080494. Form type: 4.
CYPH 2026-07-02
Official SEC Edgar filing accession #0001104659-26-080493. Form type: 4.
CYPH 2026-07-02
Official SEC Edgar filing accession #0001104659-26-080492. Form type: 4.
CYPH 2026-07-02
Official SEC Edgar filing accession #0001104659-26-080491. Form type: 4.
CYPH 2026-07-02
Official SEC Edgar filing accession #0001104659-26-080490. Form type: 4.
HSCS (EXP. TUDE) 2026-06-23
By Karen Roman Fortitude Mining Holdings, Inc., a Zcash mining platform, has agreed to merge with HeartSciences Inc. (Nasdaq: HSCS) in an all-stock transaction that will take th...
HSCS (EXP. TUDE) 2026-06-23
FAIRPORT, N.Y., June 23, 2026--Fortitude Mining Holdings, Inc. ("Fortitude"), a vertically-integrated digital asset mining platform anchored in Zcash, and HeartSciences Inc. (Na...
CYPH 2026-06-22
Official SEC Edgar filing accession #0001104659-26-076364. Form type: 8-K.
HSCS (EXP. TUDE) 2026-06-11
Patent covers machine-learning models that use ECG data to estimate echocardiogram parameters indicative of diastolic functionSouthlake, TX, June 11, 2026 (GLOBE NEWSWIRE) -- He...
CYPH 2026-06-05
Cypherpunk Technologies shares tumbled to their lowest point since March as jitters tied to a Zcash bug knocked the Winklevoss-backed firm.
HSCS (EXP. TUDE) 2026-06-02
Bunkerhill Health’s FDA-cleared ECG-EF algorithm for the detection of reduced ejection fraction becomes the first cleared AI-ECG algorithm available through MyoVista Insights, a...
CYPH 2026-05-26
Official SEC Edgar filing accession #0001104659-26-066019. Form type: 8-K.
HSCS (EXP. TUDE) 2026-05-19
Agreement follows Cibolo Health’s endorsement of MyoVista Insights for its network of 127 independent hospitals and reflects continued commercial momentum for HeartSciences’ ECG...
CYPH 2026-05-14
Official SEC Edgar filing accession #0001104659-26-060686. Form type: 8-K.
CYPH 2026-05-14
Official SEC Edgar filing accession #0001104659-26-060662. Form type: 10-Q.
HSCS (EXP. TUDE) 2026-05-05
Agreement with St. Vincent Health marks HeartSciences’ transition from early adopter installations to commercial SaaS deployments following the full launch of MyoVista Insights ...
HSCS (EXP. TUDE) 2026-04-14
Southlake, TX, April 14, 2026 (GLOBE NEWSWIRE) -- HeartSciences Inc. (Nasdaq: HSCS; HSCSW) (“HeartSciences” or the “Company”) a healthcare information technology (“HIT”) company...
CYPH 2026-03-09
Prominent privacy coin Zcash (ZEC) has jumped 7% over the last day as the Zcash Open Development Lab announced a $25 million fundraise.
CYPH 2025-12-31
The much-anticipated crypto "Santa Rally" has officially missed its flight. With bitcoin and ether closing out the quarter down more than 22%, the market is entering a major "po...
CYPH 2025-12-31
Cypherpunk Technologies boosted its zcash bet with a $28 million token purchase, lifting its holdings to 1.7% of ZEC’s circulating supply.
CYPH 2025-12-30
Cypherpunk Technologies has deepened its bet on Zcash, adding fuel to a growing debate over whether privacy-focused cryptocurrencies can play a role similar to Bitcoin in corpor...
CYPH 2025-12-10
In a wide-ranging interview with CoinDesk's Jennifer Sanasie, Zooko Wilcox, founder of Zcash, explains his new role as Strategic Advisor to Cypherpunk Technologies and why he be...
CYPH 2025-12-10
Cypherpunk is a ZEC treasury company launched by Tyler and Cameron Winklevoss in November, The company has hired Zcash founder Zooko Wilcox as an advisor. ...
CYPH 2025-11-14
Cypherpunk Technologies (CYPH) is making headlines as it pivots from its biotech roots to a digital asset-focused future. The company is rebranding from Leap Therapeutics and in...
CYPH 2025-11-14
Cypherpunk Technologies soars as it transforms from a biotech firm to a Zcash treasury company. But several risks warrant taking profit in CYPH stock at current levels.
Zcash exposure calculator
Adjust quantities or use quick-add chips to calculate direct & institutional Zcash exposure:
Direct Zcash (ZEC) 0 ZEC
The Zcash ETF ZCSH (0.080900 ZEC/sh)
0 shs
Cypherpunk Technologies CYPH (0.002400 ZEC/sh)
0 shs
Total Zcash exposure Spot: $1,265.82
0.00 ZEC
Cypherpunk valuation simulation
Full page ↗
Extrapolating MicroStrategy’s empirical mNAV trajectory (0.7x–4.0x) onto Cypherpunk Technologies. Simulate implied share prices as corporate ZEC treasury accumulation and spot prices scale.
MSTR Median mNAV 1.65x
MSTR Bear Trough 0.96x
MSTR Bull Peak 3.96x
CYPH Current Diluted 1.05x
CYPH Holdings 323,394 ZEC
Zcash Price (USD) $1,265.82
Target mNAV Multiple 1.40x
Implied CYPH Share Price
$3.19 USD
Crypto NAV: $2.28/sh
Implied Market Cap
$544.5M
170.7M diluted shares
Implied Upside / (Downside)
+31.8%
vs $2.42 current price