Foundry Digital is launching a Zcash mining pool aimed at institutions. CEO Mike Colyer said Zcash has matured into an institutional-grade asset, but the mining infrastructure supporting it hasn’t kept pace, and the coin plays a critical role in advancing financial privacy. The pool will allow large miners to connect to the Zcash network in the same way it connects to its Bitcoin pool, with the aim of becoming the standard for public companies and institutional miners. The Rochester, New York-based firm said the move is designed to broaden institutional participation in Zcash.
Zcash has gained institutional backing from Coinbase, Andreessen Horowitz, and Galaxy Digital over the past year. Tim Sun of HashKey Group told DL News that Foundry’s involvement sends a strong message about Zcash’s long-term viability, noting that privacy technologies can help institutions move on-chain activity while safeguarding sensitive details. He added that large financial firms are increasingly comfortable operating on public blockchains but still require the same protections they expect in traditional markets, including transaction privacy.
Zcash’s price has faced volatility amid broader market swings, along with a history of developer departures at Electric Coin Company. Privacy-focused investors have continued to champion Zcash, with Naval Ravikant describing Bitcoin as insurance against fiat and Zcash as insurance against Bitcoin, while Tyler Winklevoss warned that privacy is a vanishing commodity. Barry Silbert of Digital Currency Group has suggested privacy-focused cryptocurrencies could play a significant role as Bitcoin privacy concerns persist, and Ray Dalio has raised questions about Bitcoin’s privacy in recent months.
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