Bitcoin mining pool giant Foundry officially launches Zcash mining pool, accounting for nearly one-third of new production

According to Fortune, Bitcoin mining pool giant Foundry has officially launched a new mining pool for the privacy coin Zcash.

Foundry CEO Mike Colyer stated that this move aims to respond to the growing demand from large institutions for privacy coins. Currently, the mining pool has attracted several institutional miners, with its output accounting for nearly one-third of the newly added Zcash on the entire network.

Zcash achieves transaction privacy based on zero-knowledge proof technology while supporting selective disclosure to meet compliance requirements, making it more favored by institutions compared to its competitor Monero.

Boosted by this news, the price of Zcash has increased by over 75% in the past 30 days, with a current market capitalization of approximately $6.3 billion. Foundry currently controls about 31% of the global Bitcoin hash rate, making it the largest Bitcoin mining pool operator in the world.

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