Foundry Expands Crypto Mining Footprint with Entry into Zcash

Foundry, a dominant player in the Bitcoin mining sector with over 35% of global BTC hash rate, has officially launched dedicated Zcash (ZEC) mining operations. The company began deploying specialized mining hardware at its U.S.-based facilities in early 2026, targeting a sustained hashrate of 120 terahashes per second (TH/s) by Q2 2026. This marks Foundry’s first major foray beyond Bitcoin, reflecting a strategic pivot toward diversified cryptocurrency asset exposure. The decision follows increasing demand for decentralized privacy-focused coins and growing confidence in Zcash’s underlying zk-SNARKs technology. Foundry’s entry is expected to bolster ZEC’s network resilience, with current hashrate rising from 85 TH/s to over 205 TH/s since the announcement—representing a 135% increase. This surge in mining activity may reduce mining centralization risks and improve transaction verification speed. Market reactions have been notable: ZEC-USD surged by 22% in the week following the announcement, while BTC-USD and ETH-USD showed modest 3% and 1.8% gains, respectively, indicating spillover effects in the broader crypto market. Analysts suggest that institutional participation in niche coins like ZEC could attract further capital, especially among investors seeking privacy-enhanced digital assets. The expansion underscores a shift in mining strategy among top-tier operators, who are increasingly diversifying portfolios beyond Bitcoin. Foundry’s move may also prompt other large mining firms to evaluate similar opportunities in privacy-centric or layer-2 solutions, reshaping the competitive landscape across the digital asset ecosystem.