Bitcoin mining pool operator Foundry Digital plans to launch an institutional-grade Zcash mining pool this April.
The operator of the largest Bitcoin mining pool globally announced on Wednesday its intention to extend its compliance and operational framework to the privacy-focused cryptocurrency ecosystem.
Foundry said the new pool will address a lack of purpose-built infrastructure for institutional and public mining operations within the Zcash network.
Foundry CEO Mike Colyer stated the supporting infrastructure for Zcash lags behind the maturation of the asset. “We believe Zcash plays a critical role in advancing financial privacy,” Colyer noted in the announcement.
Founded in February 2021, Foundry’s bitcoin mining pool currently services one third of Bitcoin’s total network hashrate, according to Hashrate Index.
Zcash launched in 2016 as a privacy-focused cryptocurrency built on zero-knowledge proofs. When used correctly, the network allows users to verify transactions while obscuring specific details such as wallet addresses and transaction amounts from public view.
